Americans More Upbeat on China Ahead of Trump-Xi Meeting
- Author: Zachary Reyes Apr 09, 2017,
Apr 09, 2017, 8:55
Observers expect the meeting - the first between Mr Trump and Mr Xi - to set the tone for US-China ties for the next four years.
Also on the agenda for the Trump-Xi meeting is how the US and China will respond to the growing nuclear threat in North Korea.
Trump has said he wants US companies to stop investing in China and instead create jobs at home. "Similarly, the US also can't live without China", he said, citing USA exports of Boeing Co. airplanes, soybeans and automobiles to China.
"The U.S has its work cut out for it if it is going to try to alter the pattern of trade that has developed between China and US companies over the last 10 to 20 years", said Chris Rupkey, chief economist at MUFG Union Bank in NY. And by a 52 per cent-39 per cent margin, Democrats also favor using force to defend an Asian ally.
China's mercantilist policies have harmed America and the liberal global trading order generally. "More and more we are hearing: 'Why should we let Chinese come in and invest in certain industries when we can't do it in China?'" They include tech companies like Apple, which makes much of its iPhone in China, automakers such as General Motors and Ford, heavy machinery firms like Caterpillar, retailers like Starbucks and makers of shaving foam and detergent, like Procter & Gamble.
While Trump has been in office little more than 10 weeks, Xi has honed his USA strategy since assuming the Chinese leadership in 2013. Nations such as Japan, Taiwan, and others depend on exports and natural resources to power their economies, and China could essentially cut these nations out of the global economic order in mere days if Beijing was angered over Japanese actions in the East China Sea or over fears of Taipei's possible pursuit of independence.
President Trump is meeting China's president on April 6, after months of criticizing China and promising big trade changes.
But as President Trump meets with Chinese President Xi Jinping in Mar-a-Lago this week, he may take a markedly different approach: threatening that the United States will soon act more like China.
India's trade deficit with China was recorded at Dollars 46.7 billion during the April-February period of the last fiscal, Parliament was informed today. Both countries have also been the target of criticism in the past from members of the White House team.
Chinese Vice Foreign Minister Zheng Zeguang said on Friday the U.S. A failure of USA leadership on these issues is not a good message for the United States to send to China, its allies in the region, and the world, they said.
China remained the country with by far the biggest trade surplus with the USA, accounting for $31.7bn of the imbalance.
Some in the US business community worry about tit-for-tat retaliation in trade disputes with China.
The danger here is obvious: Eventual outright control of the South China Sea would give Beijing tremendous leverage throughout the region, and by 2020, some very senior us officials think, that is a very real possibility.
The list of commercial issues between the two countries was so long, it would be impossible to make a major dent in them with one meeting, he said.
Exports of goods and services increased 0.2 percent to $192.9 billion, the highest level since December 2014 as shipments of automobiles and parts hit their highest level since July 2014. Fifty-two percent of Americans said they were more concerned about China's economy, compared to 36 percent who said they were more concerned about the country's military strength.
But several corporate lobbyists, representing a range of companies expressed concern Trump's lack of attention to detail could prove counterproductive when it comes to the intricacies of the massive trade and investment relationship.
"It's not just a manufacturing [jobs] issue", says Edward Alden, a trade expert at the Council on Foreign Relations in Washington.