Xi, in being mindful of the long standing relationship between the US and China, recounted the era of “ping-pong diplomacy” that helped jump-start U.S.-China relations two generations ago. Since then, he said, “one basic fact remains unchanged: China and the United States both benefit from cooperation and lose in confrontation.”
“Cooperation and dialogue are better than friction and confrontation,” he added.
Mr. Trump said Saturday he would allow U.S. companies to sell their products to Huawei, but he was not yet willing to remove the company from a trade blacklist. The move could draw criticism from Democrats and congressional leadership though it should not. The motive of the US should be to bring Huawei into line to build a secure product that hackers working for China or the US or for themselves cannot penetrate. The goal should not be to destroy Huawei.
China and the U.S. have differences over the accusation that Beijing steals technology and coerces foreign companies into handing over trade secrets. China denies it engages in such practices. There is little doubt those practices are real and are a problem. That said, there should be a better way to fairly license the use of patents, technology, to not just Chinese companies but to small US companies that are being shut out of business by the monopoly powers. And while the US government and media like to focus their propaganda on technology, part of the battle is over low tech such as handbags that are being sold as knockoffs in US flea markets. In my opinion the attack on knockoffs, which most people know are knockoffs, is stupid. Maybe if the monopoly powers would provide greater access to ma & pa to sell their real products there would be less of a demand and less of a distribution channel for knockoffs.
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Anyway, let us hope the future talks are fruitful and the current tariffs will be brought down on both sides. There is no doubt that our trade deficit with China needs to be brought down a LARGE amount to both the benefit of China and the US. But at the same time we can not ignore the degree the US and Chinese economies have become interdependent. You might not like that fact. I definitely do not like that fact. But that is our reality.
Most US retailers can not exist without access to Chinese production. Those who try to make money online through ebay and amazon or their own websites definitely need access to Chinese products. At the same time US farmers and small manufacturers need access to try to sell their goods to China. Us manufacturers need to be able to sell to Chinese companies like Huawei.
That said, Trump has NOT been wrong to try to deal with our trade deficit. It is a problem. But the focus needs to be as much in trying to build up more small manufacturers in the US to compete and create an environment for them to compete as blaming China. And Trump has been doing that and that is a good thing. I think over all Trump is doing the best he can given the hand he was given to play.
Reference Article:
https://www.cbsnews.com/news/us-china-trade-talks-restarted-trump-suspends-new-tariffs-today-2019-06-29/