FYI Western technology and markets does not mean only USA. Since your President has managed to upset your other trading partners, don’t expect that they will blindly follow your lead in trying to stop China from becoming the next world leader.
I think you will find that China is more resilient and able to handle adverse conditions than USA.
The Chinese population has not had many generation of good living and prosperity for large parts of the population. Today they are getting there, but they are able to tighten their belts if need be.
Chinese export to USA is only a relatively small % of their total export and even less of GDP.
Their import from USA is mostly agricultural products and commodities, like oil and gas, which they can find from other sources.
I think the US consumers will be more pissed off when they realise that they are the one’s paying the tariffs on the stuff they buy that originate in China, like IPhones etc., not the Chinese.
For IPhones it is a double whammy, since China adds tariffs on the parts that is imported from USA to produce it and the US add tariffs on the finished product when it arrives at US ports.
Apple will just increase the price to consumers to ensure that their share holders don’t suffer.
This trade war soon (5-10 years) will transform to confrontation of civilizations (such as Cold War).
And I have no doubts that Western world will unite again ( I agree, that US now making regression in affairs with our strategic partners, but it will change ) to face the threat.
Western civilization - most powerfull force in the world, History confirms this thesis
Okay - I really hesitate to comment here, but one problem with this video is it’s facts are largely incorrect, and thus can lead people to come to incorrect conclusions.
I realize this will no doubt be refuted and/or at the least annoy people since Jon Oliver has that effect on some people, but his points against the China video are valid: https://www.youtube.com/watch?v=etkd57lPfPU
USA doesnt want a trade war its just the tool get your trading partner to either follow WTO rules or agree to lower them or same both ways.
How come Trump is the first person to say the USA has been the looser in trade due to USA with zero and everybody else with tarrifs…
Makes you wonder why those overseas countries are so scared to let USA products in?
How will China cope with the lack of US oil and LNG?
They will secure supplies from other sources:
The same applies to soybeans and other grains that form the biggest US export to China:
If and when this madness stops it will be hard for the US to regain market shares, both in the Chinese markets and everywhere else. Who wants to trade with a country that can suddenly turn around and change the rules at a whim of one man??