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China Businesses

China's Xi Jinping Warns Against Protectionism in Apparent Swipe at US (theguardian.com) 146

Posted by msmash from the how-about-that dept.
President Xi Jinping has pegged China as the pivot point for global free trade, vowing to keep his "super-sized" economy open and warning against protectionism in a global economy eviscerated by the Covid-19 pandemic. From a report: Buoyed by the signing of the world's largest trade pact over the weekend, Xi said the Asia-Pacific is the âoeforerunner driving global growth" in a world hit by "multiple challenges," including coronavirus. He vowed "openness" to trade and rejected any possibility of the "decoupling" of China's economy -- in his only comments nodding to the hostile trade policy of Donald Trump's US administration, which has battered China with tariffs and tech restrictions. The Asia-Pacific Economic Cooperation (Apec) forum, at which Xi delivered his comments, was held online this year because of the coronavirus pandemic. It brings together 21 Pacific rim countries including the world's two biggest economies of China and the US, accounting for about 60% of global GDP.
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China's Xi Jinping Warns Against Protectionism in Apparent Swipe at US More

China's Xi Jinping Warns Against Protectionism in Apparent Swipe at US

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  • No surprise coming from Xi (Score:4, Insightful)

    by LynnwoodRooster ( 966895 ) on Thursday November 19, 2020 @12:14PM (#60742932) Journal
    The biggest threat to him staying in power is a faltering economy. That happens, and the rest of the CCP will figure out a way to "make him retire". Taking our economic boot off his throat will give him the chance to stay in control and further the march of China back towards the days of Mao, instead of the path towards more open economies AND political power started by Deng.

    • Tell it like it is. Except the boot is actually a baby booty and the throat is actually a big toe.

    • the rest of the CCP will figure out a way to "make him retire".

      Maybe not. After the Gang of Four, Deng Xiaoping added many checks-and-balances to the system to ensure that another Mao-like dictatorship and personality cult would not recur. Xi Jinping has spent the last 8 years dismantling those checks.

      His people are in charge of every power center, including the military. Even popular rebellion in the streets is unlikely to topple him since the example of 1989 has shown that Chinese soldiers will fire on their own people.

  • Xi Jinping's Message (Score:1)

    by Anonymous Coward

    You better not try to stop China exploiting your consumerism which provides capital for our military because you know what happens to people who do things I don't like.
    *eyeroll*

    • As far as the china threat to the west. Been absolutely a joke. If you have to build an island to extend your will in the south china sea the hermit kingdom has lost. Keep trying by buying foreign ports, sure make concreate investments that can be nationalized in seconds. Even the absolute low cost producers of electronic trash are fleeing to Vietnam and Africa.

  • Doesn't China impose huge tariffs on good imported into China?

    • What would be the most revealing metric to answer that question with? (Without just resorting to anecdotes about individual tariffs?)

    • Tariffs, not so much. Complete bans, absolutely.

    • Re:Wait... (Score:4, Interesting)

      by Cassini2 ( 956052 ) on Thursday November 19, 2020 @12:29PM (#60742992)

      I have heard stories that while I can FedEx something half-way around the world in 3 days, if I try to send something to China, it will get held in a warehouse for 2 to 4 weeks. This was the entire justification for setting up a plant in China for one multi-national that I worked for.

      There is regulatory risk in China too. If the local communist bosses want you in, then you are in. If they want you out, then you are out. ARM lost control of its China division to its local [hexus.net] CEO for a while. [yahoo.com]

      • if I try to send something to China, it will get held in a warehouse for 2 to 4 weeks.

        If you think that's bad, try mailing something to Brazil. A couple of MONTHS is typical.

    • I have a question for knowledgeable readers.

      Removing all the political vitriol, and without commenting on who won the election or who should or shouldn't be president...

      I was under the impression that
      a) China imposed protectionist measures in every way possible
      b) China basically cheated their trade agreements in every way possible
      c) The US largely ignored this until 2016
      d) In 2016 the US started responding, which was not "starting a trade war", but "responding to numerous trade attacks"

      So effectively, the c

      • ...and before anyone asks, this is a legitimate request about a question I don't know the answer to.

        I'd like to bone-up on the economic policies of the incoming administration, so I can get a better handle on why people make the choices they do.

        (Because Slashdot has become so completely woke that every post is viewed in terms of it's partisan merit. Sheesh!)

      • Re: (Score:2)

        by Whibla ( 210729 )

        It's possible you've already read this paper [fas.org] but, if not, it's a fairly concise account of how China's economy looks right now, and traces the major reforms that got it to this point.

        It is written from a US standpoint (not surprising being as it was written to 'inform' congress), so I'm sure there are caveats (e.g. concerning political bias) with regard to reading too much into it, but it seems to cover some of what you're asking about.

        Hope it helps.

      • Re: (Score:2)

        by Whibla ( 210729 )

        Hmm, sorry. I've just reread the end of your post. Seems my previous reply missed the mark.

        I'm afraid I do not know what the incoming administration are likely to do, certainly not specifically, regarding trade and trading relations with China. Honestly I suspect they don't know exactly what they going to do either, not yet at least, and there are probably multiple factions within the Democrats offering differing opinions.

        I'm also not clear on how much of the current 'policy' is based on executive order and

  • "warning against protectionism in a global economy " Uhh... you mean protectionism like artificial manipulation of one's currency to keep one's labor costs cheap?

  • LOL (Score:1)

    by Anonymous Coward

    "Open" --- right.

    China's economy is not open. Not anywhere close.
    So ridiculous.

  • How can this be taken seriously? (Score:5, Insightful)

    by TomGreenhaw ( 929233 ) on Thursday November 19, 2020 @12:25PM (#60742974)
    China protects its domestic business very aggressively every way imaginable. Free trade requires a two way street. The world has been open to China - it's time for them to reciprocate or face the consequences.

    • Dictator Derangement Syndrome?

      The generalized form of Trump Derangement Syndrome.

      He probably thinks he in all-righteous and God right now. They all do.

      It will be funny, once a Brutus emerges.

    • By the way, regarding your signature: What is the root of all greed then?
      (I presume, stupidity and impatience?)

    • Re: (Score:2)

      by nagora ( 177841 )

      "How can this be taken seriously?"

      It's SOP for leaders: say what you want people to believe and assume, correctly, that most of them won't look at what you actually do.

      Words speak much more loudly than actions; always have.

    • China protects its domestic business very aggressively every way imaginable. Free trade requires a two way street.

      No, free trades in this world are never two way streets. Developing countries are entitled to special treatment and developed countries signed up to those agreement under WTO (*). China was and still arguable is a developing country (**). However, under WTO, China and the developed world has reached agreement to give up or reduce most benefits enjoyed by a developing country [theconversation.com].

      (*) The questions are why such arrangement was agreed to? Well, simply put, it is a kind of "affirmative actions" to help the disadvan

  • Rapist talk (Score:4, Insightful)

    by Shotgun ( 30919 ) on Thursday November 19, 2020 @12:35PM (#60743022)

    This is like the rapist telling the victim not to struggle so that the anal sex won't hurt so much.

    • Well this is a pretty horrible analogy, but: it's more like the rape victim decided that he liked it, and the rapist decided that was no good and got up to leave. Then the victim said, "Hey! Where are you going?"
      • the rape victim didn't like it. But the one watching did. The 1% benefited heavily from opening up the China labor market (India's too). The victim's still screwed though.

        It doesn't much matter for manufacturing jobs though. There are 4 people on the PlayStation 5 assembly line, I kid you not. 2 to feed parts into the machine and two to take the finished PS5 out and put it in a box. And it's done in Japan because who cares if labor costs a bit more when it's 4 people. Not sure how many folks are involve

      • You have a way with words.

    • Weeell, as the current world leader in mass economic rape, I'd not talk so loudly, dear America.
      China is, at best, a contender. Or are you saying they surpassed you already?

    • The tiktok thing where the US (president) held a gun and told "sell to us or we will stop you" is mafia tactic, and the huawei thing where they pretend to hold evidence to stop their 5G and computer being sold but never present any ? All of that reeks of protectionism against China rising tech economy.

      That the rapist complain somebody is trying to kill them does not mean we suddenly have to turn the eye away and ignore it : even rapist are protected against murder by law.

  • Pot, meet Kettle ... (Score:5, Informative)

    by Freischutz ( 4776131 ) on Thursday November 19, 2020 @12:38PM (#60743036)
    That is rich coming from the leader of China, one of the industrialised world’s leading exporters of unemployment through dumping and state subsidies for domestic Chinese industry.

  • https://it.slashdot.org/story/... [slashdot.org]

    China is quite open to trade.

  • In this post... communists demand free trade

    • Re: (Score:2, Flamebait)

      by BAReFO0t ( 6240524 )

      What communism?
      I think you need to look up the definition of communism, and what China's form of government actually is.
      This is like saying the USA is a democracy. lol.

    • Seems like you are calling them hypocrites for not adhering to standards that you (not they) put forth.
    • only 1 way. Even now, China maintains some of the highest tariffs going. It is long past time for us to say NO to that. Trump's tariffs on imported solar, should just be done against, panels from china, or that come ultimately from Chinese company.
      Likewise, need to put a high tariffs on vehicles and car parts coming here from China (including Buick). China has had massive tariffs on all of that to stop western imports. Time to match up to what CHina had at their peaks.

      As much as I dislike Trump, hope

  • Tough Love warns against authoritarianism in an apparent swipe at China.

    • Tough Love warns against authoritarianism in an apparent swipe at China.

      So what's up with that... chinese spin squad on here with mod ponts? (of course they are)

  • In a world of overpopulation that is so extreme that we're destroying the planet, extincting species by the hour, and are literally running out of sand, I don't think acting as if even further growth is a good thing.

    Let alone the little fact that with "growth", they always mean corporate profit. Aka the part of the existing money and hence power, that is taken from the hands of the average person like you and me *without* giving something of value in return.

    How about some "growth" of wealth for you and me?

    • One could look at this pandemic as natures' way of addressing overpopulation of a species; the only reason it hasn't caused a serious die-back of the human species is we have this pesky tendency to adapt our environment to suit us, rather than the other way around. So we're fighting against it.

  • The only people left in America that give a crap about China are the CEOs that still have their d1ck in it ... I'm looking at you Apple.

    • You should give a crap about China and not give a crap about the pro-China propaganda that their influencers keep spreading around, or you might wake up one day to find you'll be required to learn Mandarin.

      • Yeah, China is all glossy on the surface but they are a rotting hulk on the inside. The difference between China and the US is that the US has all the food and fuel it can use and China has to import 80% of their fuel and lets just say that their agriculture is abysmal. On top of that they also have a demographic collapse on their hands. In the future, the US is more than likely to have to rescue China because their economy finally collapsed and they are starving to death.

        I don't think the CCP will survi

  • We're the world center of free business! (Score:5, Insightful)

    by kaatochacha ( 651922 ) on Thursday November 19, 2020 @01:49PM (#60743360)

    "Now excuse me while I cancel this ANT IPO because the owner annoyed me"
    -Pooh

  • Biden will take a knee (Score:3)

    by groobly ( 6155920 ) on Thursday November 19, 2020 @02:12PM (#60743484)

    Rest assured that Biden will genuflect before Xi. Then again, it would take 30 years to fix the last 30 years of failed industrial policy that hollowed out the US manufacturing sector. Trump's pop-up tariffs may have had the right sentiment, but are and were naive to the max.

    • It remains to be seen what Biden will do. Obama and W certainly bowed before China, and Trump started off that way. Hopefully, Biden will step up and say NO to China, but with our allies, and not like Trump did.

    • it would take 30 years to fix the last 30 years of failed industrial policy that hollowed out the US manufacturing sector.

      The US manufacturing industry and production grew by 300% in the past 30 years. What are you talking about?

    • That's some bullshit you just posted.

  • Massive "open" market underpinned by incredible systemic racism....

  • Comment removed (Score:3, Insightful)

    by account_deleted ( 4530225 ) on Thursday November 19, 2020 @02:52PM (#60743694)
    Comment removed based on user account deletion
  • China is 103 nation with 3.83%, while EU is at 132 with with 1.79, and America is at 161 with 1.66 [wikipedia.org]
    And Chinese average tariffs are actually MUCH higher against western nation, since they target the west.
  • Yet companies involved in joint ventures with state-owned Chinese firms have been asked in recent months to give internal Communist Party cells an explicit role in decision-making. If that isn't protectionism, I don't know what that is.
  • China promotes protectionism at home with plenty of tariffs and restrictions, but that is part of the Chinese communist culture. Other countries shouldn't adopt this aspect of Chinese culture and should behave like they normally do with countries that practice free trade.
  • This book has provided insights into a multitude of topics. After reading the book Stealth War, I can’t interpret “Don’t be Protectionist” as nothing other than a piece in the 100 year long puzzle /game - in which China ends what it sees recent history as Cultural Chinese Humiliation. 2049 is the year, and who intends to be the authoritarian at the top of the world heap is being spelled out with incredible details - AI Supremacy (2030) [This one not so much] ... Do with think the

  • "If it moves tax it. If it keeps moving regulate it. And if it stops moving subsidize it" --Ronald Reagan (b. 1911)

    I think difference between Imports and Exports should not be more than 20%

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