US-China trade war
| US-China trade war link (Civil unrest/Preparation, War/Preparation) | |
|---|---|
| Since 2018 the United States and China have been engaged in a trade war involving the mutual placement of tariffs. |
Since 22 January 2018, the United States and China have been engaged in a trade war involving the mutual placement of tariffs. US President Donald Trump had declared in his campaign to fix China's "longtime abuse of the broken international system and unfair practices".
On 14 May 2019, at the opening ceremony of the Conference on Dialogue of Asian Civilisations in Beijing, President Xi Jinping denounced as "foolish" foreign efforts to reshape other nations as he pushed back against US trade demands:
- "To think that one's own race and civilisation are superior to others, and to insist on transforming or even replacing other civilisations, is foolish in understanding and disastrous in practice."[1]
Background
The economic disputes occurred before China's entry to the World Trade Organization but former Presidents George H. W. Bush, Bill Clinton, George W. Bush, and Barack Obama all failed to solve the problems. In April 2018, the United States filed a request for consultation to the World Trade Organization in regard to concerns that China was violating intellectual property rights.[2]
In adding various tariffs, the US administration is relying partly on Section 301 of the Trade Act of 1974 to prevent what it calls unfair trade practices and theft of intellectual property.[3] This gives the president the authority to unilaterally impose fines or other penalties on a trading partner if it is deemed to be unfairly harming US business interests, especially if it violated international trade agreements.[4]
The result is that the US claims Chinese laws undermine intellectual property rights by forcing foreign companies to engage in joint ventures with Chinese companies, which then gives the Chinese companies access and permission to use, improve, copy or steal their technologies.[5][6][7]
Made in China 2025
Trump also sees the technical industrial plan of Made in China 2025 as a threat to US economy and national security, therefore imposed tariff on goods that are included in the plan,[8] and also urged China to stop the whole program.[9] However, China argues it has strengthened intellectual property right (IPR) protections and that the US has ignored the effort; that the US has ignored WTO rules and ignored the calls of its own industries to reduce tariffs. China firmly opposes these US trade practices, believing they represent unilateralism and protectionism.
Technology
During Covid-19, China emerged as a focus of the US Deep State. Controlled media focused on China's rapidly[10] structural influence in technology, even being responsible with their state companies such as Huawei[11][12] for securing European governments their vital ministerial departments.
As a result of the shutdown of many parts of the global supply chain, Taiwan came under scrutiny[13][14] for being the de facto sole supplier of computer chips (or semiconductors specifically) for a wide variety of products.
Shortages for every product requiring computer chips, tariffs by the US & EU and increased tensions surrounding Taiwan and Hong Kong, caused prices for computer chips and similar components to skyrocket, making the world extremely[15] dependent on a rapid recovery of the Chinese (or Asian) economy[16].
Cryptocurrencies
- Full article: Cryptocurrencies
- Full article: Cryptocurrencies
El Salvador explicity legalised Bitcoin. As bitcoin was blamed[17] for the supply chain shortages - with millions of people in lockdown and computer data centres emerging "mining crypto" - China banned the mining or using computers their power to get cryptocurrencies. During the rise of computer mining farms with thousands of computers combined together (growing Bitcoin to a $60k US Dollar exchange rate), analysts such as Peter A. Thiel argued cryptocurrencies to be a Chinese WMD aimed at destabilizing the US, by making the cost of living too high for the average American, getting quoted in a large number of US corporate media, following previous patterns from the Cold War and the War on Terror where the US used the consolidation of the media to make China an enemy image and gear up for war.[18]
Global Energy Crisis
A significant global shortage of energy started in 2021, affecting Europe[19][20], China and the UK.[21] Many industrial metals soared to record high prices, surpassing the Global financial crisis.[22] European governments didn't seem keen on bending to Russian gas, halting Nord Stream 2-pipelines at one point causing energy prices for citizens to skyrocket, with traffic jams at patrol stations.[23][24]
Although several other simplistic reasons - such as the banning of nuclear energy in several countries following the Fukushima Daiichi nuclear disaster - could've been given, most answers how to tackle the surging prices aligned with the goals of the The Great Reset and the Fourth Industrial Revolution.[25][26]
References
- ↑ "'Foolish and disastrous': China's Xi calls out US' belief that it's superior and can transform other nations"
- ↑ https://cen.acs.org/policy/intellectual-property/US-files-complaint-over-Chinas/96/i14
- ↑ http://fortune.com/2018/04/02/china-tariffs-128-us-products/
- ↑ "Intellectual property theft, not metal, is the real trade war in US sights and it's a much bigger worry", ABC, March 9, 2018
- ↑ https://www.bloomberg.com/news/articles/2018-11-01/u-s-says-china-state-owned-co-stole-micron-trade-secrets
- ↑ https://www.foxnews.com/tech/china-is-using-economic-espionage-and-theft-to-grab-us-technology
- ↑ http://www.foreignaffairs.com/articles/66753/adam-segal/chinas-innovation-wall
- ↑ https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-confronting-chinas-unfair-trade-policies/
- ↑ https://www.nytimes.com/2018/05/04/business/china-us-trade-talks.html
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiW3pHR6Yz1AhU9i_0HHeu_DjwQFnoECB0QAQ&url=https%3A%2F%2Fcarnegieendowment.org%2F2021%2F12%2F23%2Fhow-u.s.-businesses-view-china-s-growing-influence-in-tech-standards-pub-86084&usg=AOvVaw32BN7pprBKWzaLJtsIe1r9
- ↑ https://www.oxfordeconomics.com/recent-releases/The-economic-impact-of-Huawei-in-Europe
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjapcuh6Yz1AhXvwQIHHfcfDFMQFnoECAcQAQ&url=https%3A%2F%2Fwww.politico.eu%2Farticle%2Fus-europe-5g-strategy-huawei%2F&usg=AOvVaw1rHTF7KyC4gtBvRWaARw8_
- ↑ https://carnewschina.com/2021/10/12/cpca-the-shortage-of-chips-is-due-to-monopoly-tsmc-agrees/
- ↑ https://www.wsj.com/articles/the-world-relies-on-one-chip-maker-in-taiwan-leaving-everyone-vulnerable-11624075400
- ↑ https://www.cnbc.com/2021/03/16/2-charts-show-how-much-the-world-depends-on-taiwan-for-semiconductors.html
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiq2LTr5Yz1AhU0h_0HHb11BpIQFnoECBsQAQ&url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Ffeatures%2F2021-01-25%2Fthe-world-is-dangerously-dependent-on-taiwan-for-semiconductors&usg=AOvVaw27yNvkHF0IamdKV-IqvkAJ
- ↑ https://www.economist.com/graphic-detail/2021/06/19/crypto-miners-are-probably-to-blame-for-the-graphics-chip-shortage
- ↑ https://www.marketwatch.com/story/china-may-be-using-bitcoin-as-financial-weapon-against-u-s-says-peter-thiel-11617837743
- ↑ https://www.naturalgasintel.com/european-natural-gas-prices-surge-on-nord-stream-2-delay-lng-recap
- ↑ https://www.bloomberg.com/news/articles/2021-09-15/france-may-try-to-ease-cost-of-energy-bills-with-more-vouchers
- ↑ https://www.bloomberg.com/news/articles/2021-10-05/global-energy-crisis-is-the-first-of-many-in-the-clean-power-era
- ↑ https://en.wikipedia.org/wiki/2021_global_energy_crisis#Effects_by_location
- ↑ https://www.voanews.com/a/spain-s-shock-plan-to-curb-soaring-energy-prices-a-sign-of-growing-state-intervention/6235626.html
- ↑ https://news.sky.com/story/fuel-crisis-business-secretary-kwasi-kwarteng-not-guaranteeing-anything-over-impact-on-christmas-12421137
- ↑ https://www.euronews.com/2021/10/20/europe-s-energy-crisis-continent-too-reliant-on-gas-says-von-der-leyen
- ↑ https://www.politico.eu/article/eu-countries-look-to-brussels-for-help-with-unprecedented-energy-crisis/
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