Essay: Donald Trump, who is favored to win the 2024 presidential election, wants to hammer China with high tariffs

From Conservapedia
Jump to navigation Jump to search

Question: Can imposing tariffs be good public policy for a country?

Consider:

The excitement is raging for tariff-loving Americans! See: Trump tariffs could leave the US as the relative winner among global economies, Ivy League professor says, Fortune Magazine, December 29, 2024

"Tariff is the most beautiful word in the dictionary." - Donald Trump[1]

See:

*Why Trump tariffs pose a bigger threat to China’s economy this time, Reuters, 2024

*China Has Limited Firepower to Counter U.S. Tariffs, Wall Street Journal, 2025



Articles:

Flag of China

Please watch: Goldman Sachs : Trump’s proposed 60% tariffs could knock 2% off China GDP, 2024

China's economy is too dependent on exports and countries around the world are raising tariffs against Chinese goods. Specifically, due to China having a significantly higher percentage of world exports than it did 25 years ago, China cannot export its way out of its economic problems because the world is not as able to absorb China's exports.

Tariffs against China by various countries:

Donald Trump who is favored to win the 2024 presidential election wants to hammer China with high tariffs

Donald Trump

According to the political betting markets, Donald Trump is favored to win the 2024 Presidential election: Election Betting Odds website.

Chinese economy if Trump is elected in 2024 and raises tariffs on Chinese imports up to as much as 60%

In 2023, China's exports made up around 18.9% of its gross domestic product (GDP).

According to World's Top Exports, the United States is one of China's top trading partners, accounting for 14.8% of China's total exports in 2023.

If USA starts decoupling from China, it could spur other countries to as well (Like a contagion). Plus, it would give other countries more bargaining power.

China's economy is already showing "economic cracks".

Video: Chinese economy if Trump is elected in 2024 and raises tariffs on Chinese imports up to as much as 60% ?

Trump floats replacing income tax with tariffs

Donald Trump tells Davos elites tariffs will make US a ‘manufacturing superpower’

Decline of China

See: Skepticism about China remaining a global power

Key parallels between China's decline and the Roman Empire's decline

See: China's decline and some Roman Empire decline parallels

China's economy is a house of cards heading for more and more economic decline. It's time to be very bearish about China's long-term economy


In the coming years and decades, the slowing Chinese economy will show that it is a fragile house of cards.

For more information, please see: Skepticism about China remaining a global power

Please see: It's time to be very bearish about China's long-term economy

The fragility of an economy run by communists that has the cult of personality surrounding Xi Jinping

See also: Is there anything more fragile than an economy run by communists - especially one that has the cult of personality surrounding Xi Jinping?

"The underpinnings of China’s growth seem fragile from historical and analytical perspectives. Even if no crises materialize, unfavorable demographics, high debt levels, and an inefficient financial system will constrain China’s growth."[2]

Is there anything more fragile than an economy run by communists - especially one that has the cult of personality surrounding Xi Jinping?

Question: Are Chinese vases less fragile than Xi Jinping's inept leadership?



Authoritarian regimes, like China, are strong (Various means to repress population and/or to limit other political options), but at the same time they are brittle. The former Soviet Union is an example of this principle.

In modern history, corrupt, one-party regimes are not known for their great longevity such as lasting over 100 years and China has one-party rule - namely the Chinese Communist Party.[3] Mint News reported that "Chinese President Xi Jinping is expressing concerns about the potential collapse of the Communist Party of China (CCP) as millions worldwide are renouncing their affiliation with the party."[4]

The Chinese Communist Party could lose power if China continues its downward path in terms of economic strength (See: Scenario of a collapse of the CCP, Taipei Times, 2023).

Why Do They Call It "Free Trade"?

Phyllis Schlafly with Ronald Reagan.

Phyllis Schlafly wrote:

“ Why do some people persist in mouthing the mantra "free trade" when foreign countries can and do engage in all sorts of dishonest tactics that interfere with trade, such as devaluation or other manipulation of the value of their money, confiscation (or nationalization) of U.S. property, refusing to live up to the contracts and agreements they sign, stealing our patents and copyrights, and counterfeiting our money? The Chinese government is engaging in massive piracy of American patented, copyrighted and trademarked materials. The U.S. intellectual property stolen by the Chinese includes a wide array of products including computer programs, pharmaceuticals, agricultural chemicals, musical recordings, videos, and automotive designs.

Collectively, these products are one of the greatest strengths of the U.S. economy and are the envy of the world. The United States exports many billions of dollars worth of these products each year. China simply finds it easier to illegally copy these products than to buy them from us or build competitive products, so China steals them on a gigantic scale. Some 30 Chinese factories daily turn out thousands of illegal compact discs and sell them all over the world, and illegally copied recordings, films and computer programs are widely available all over China.

Experts estimate that China's piracy in intellectual property amounts to $1 billion per year in lost U.S. exports. According to the Commerce Department�s rule-of-thumb, this means that 20,000 American jobs have been displaced by the $1 billion in lost U.S. exports."[5]

”

China's major economic crisis are signs of major deflationary pressures

According to Investopedia, "Deflation is not normally bad for an economy, except when it occurs in reaction to previous over-inflation."[6] Unfortunately for China, it has economic bubbles that are bursting in relation to its real estate and stock markets which is causing much economic hardship to many Chinese. Both of these markets had values that were highly inflated relative to their actual economic value. The Empower website notes that deflation "can lead consumers to spend less now, in part because they expect prices to continue to fall; it can push businesses to lower wages or lay off employees to maintain profit levels; and it makes existing debt more expensive for many borrowers.[7]

Presently, communist China is facing multiple crisis with the three major crisis below being signs of growing deflationary pressures on their economy:

Essays about China

Map of China

United States


The United States will likely be the strongest country for the foreseeable future and this is due to the strengths of the USA and partly due to the weaknesses of China and Russia.

Please see: The United States will be the leading power in the world for the foreseeable future

User:Conservative's essays

External links

References

  1. ↑ ‘The most beautiful word in the dictionary’: Donald Trump’s tariff plan – podcast
  2. ↑ China Stumbles, but it is Unlikely to Fall by Eswar S. Prasad, December 2023
  3. ↑ China's Communist Party is at a fatal age for one-party regimes. How much longer can it survive?, Australian Broadcasting Corporation, 2020
  4. ↑ Xi Jinping raises concerns over potential collapse of Chinese Communist Party: Report, Mint News, 2023
  5. ↑ Why Do They Call It "Free Trade"?, Phyllis Schlafly , 1996
  6. ↑ Why Is Deflation Bad for the Economy?, Investopedia
  7. ↑ What is deflation?, Empower website
  8. ↑ What’s going on with China’s stock market?, MarketPlace.org
Retrieved from "https://www.conservapedia.com/index.php?title=Essay:_Donald_Trump,_who_is_favored_to_win_the_2024_presidential_election,_wants_to_hammer_China_with_high_tariffs&oldid=2183465"