Post by account_disabled on Jan 2, 2024 6:05:50 GMT
China responds to America at "level 11", the world is set to have a "recession" in the next 9 months. There was once little hope that President Donald Trump would not escalate the trade war any further. After increasing tariffs on more than 200 billion dollars worth of Chinese imports from 10 to 25%, it seems that all sides have finally given up and accepted that China and America will probably not be able to reach an agreement to end the war. After Trump announced on August 1 that he would slap 10% tariffs on the remaining $300 billion in imports from China, effective September 1, claiming that this was because China was delaying making an agreement with United States This means that the United States levies tariffs on the full value of the goods that the United States imports from China, which is approximately 500 billion dollars. As a result, China immediately responded with two weapons: 1. allowing the yuan to depreciate to its lowest level in 11 years. The yuan on Monday, August 5, dropped below 7.0304 yuan per 1 US dollar in the onshore market and 7.0807 for Offshore Market.
The fact that the weak Yuan reached level 7 was considered an important psychological level. As a result, the United States declared China a country. Officially "manipulating the value of the currency" This is the first time since 1994 or in 25 years that the US government has made such an announcement. This will make trade between the two countries even more difficult. China's second weapon in this response is Suspend WhatsApp Number List all purchases of agricultural products from the United States. China is the fourth-largest buyer of the United States. Last year China bought $5.9 billion worth of soybeans, or 60% of all U.S. soybean exports. It is considered a countermeasure that has attracted quite a bit of attention from Trump. Because farmland in many states is Trump's voting base. According to analysts such as Chris Krueger of Cowen, a financial services and investment banking company, China's response was "rated on a scale of 1-10" on a scale of 1-10. 11” because China has signaled that it is not interested in seeking an agreement with the United States in the near term. while agricultural products such as US soybeans.
It will continue to rot. Morgan Stanley economist Chetan Ahya said the global economy could enter a recession in the next nine months if the US escalates the trade war for another four to six months by organizing a trade war. Tariff 25% on all Chinese goods because it significantly increases downside risks. Because 2 out of 3 products that are taxed are consumer products, this will have a greater impact on the US economy than before. Ahya stated that This situation will cause central banks around the world, especially the Fed and the European Central Bank, to Financial measures will be issued to support the economy. But this will only limit the negative impacts. But it is not enough to push the economy to recovery. If asked who will be more durable in this Great War? Enduring the pain longer Eric Robertsen, chief macro strategist at Standard Chartered, responded that China is likely to endure the pain longer. And it looks like China is ready to wait until the results of next year's US presidential election come out. Then decide what to do about the trade problem. Because after the election there may be someone else as president. Therefore, no matter how Trump forces There is no way China will respond the way it wants. which while waiting for the results of the US election China is likely to use fiscal measures to stimulate the domestic economy rather than monetary measures. Many other analysts.
The fact that the weak Yuan reached level 7 was considered an important psychological level. As a result, the United States declared China a country. Officially "manipulating the value of the currency" This is the first time since 1994 or in 25 years that the US government has made such an announcement. This will make trade between the two countries even more difficult. China's second weapon in this response is Suspend WhatsApp Number List all purchases of agricultural products from the United States. China is the fourth-largest buyer of the United States. Last year China bought $5.9 billion worth of soybeans, or 60% of all U.S. soybean exports. It is considered a countermeasure that has attracted quite a bit of attention from Trump. Because farmland in many states is Trump's voting base. According to analysts such as Chris Krueger of Cowen, a financial services and investment banking company, China's response was "rated on a scale of 1-10" on a scale of 1-10. 11” because China has signaled that it is not interested in seeking an agreement with the United States in the near term. while agricultural products such as US soybeans.
It will continue to rot. Morgan Stanley economist Chetan Ahya said the global economy could enter a recession in the next nine months if the US escalates the trade war for another four to six months by organizing a trade war. Tariff 25% on all Chinese goods because it significantly increases downside risks. Because 2 out of 3 products that are taxed are consumer products, this will have a greater impact on the US economy than before. Ahya stated that This situation will cause central banks around the world, especially the Fed and the European Central Bank, to Financial measures will be issued to support the economy. But this will only limit the negative impacts. But it is not enough to push the economy to recovery. If asked who will be more durable in this Great War? Enduring the pain longer Eric Robertsen, chief macro strategist at Standard Chartered, responded that China is likely to endure the pain longer. And it looks like China is ready to wait until the results of next year's US presidential election come out. Then decide what to do about the trade problem. Because after the election there may be someone else as president. Therefore, no matter how Trump forces There is no way China will respond the way it wants. which while waiting for the results of the US election China is likely to use fiscal measures to stimulate the domestic economy rather than monetary measures. Many other analysts.