#WTO #Globalization #TradeWar
The
Second Shot ?
Or , is it a “ beginning of the end “ of #WTO , #Globalization ?
It was only yesterday , that I blogged :
Then read the following in
today’s media :
Bloomberg :
CNBC :
Trump
slaps China with tariffs on up to $60 billion in imports: 'This is the first of
many'
And here is what Washington Post reported :
“We’re doing things for this
country that should have been done for many, many years,” the president said
before signing a memorandum setting in motion the trade actions.
The president blamed China for the loss of 60,000 factories and 6
million jobs, a number that most economists say blends the impact on U.S.
employment of both Chinese competition and automation.
Trump said that unfair Chinese trade practices are responsible
for the yawning U.S. trade deficit with China, which has reached a record $375
billion on his watch.
The White House expects the new
taxes, which could reach up to 1,300 specific imports, will have a “minimal
impact” upon consumers.
“The era of economic
surrender is over,” added Vice
President Michael Pence.
Zhang Xiangchen, Beijing’s
ambassador to the WTO said :
“ China is preparing for a range of responses to the US tariffs and will stand up to protectionism but still hopes for a dialogue .
This is a legitimate
right for China to do that. But I would not exclude other options because if the flood approaches, you have
to bank up to keep it out “
And the American Eagle has included India
among the top five countries to be targeted for “ Getting Even “ !
I do hope Indian Government and Indian Companies
introspect and ask :
“ How
fast can we turn India into a , LOW
COST ECONOMY ? “
When fighting a #TradeWar , even WTO cannot
mandate a ,
Level Playing Field ? [ 11 June 2016
]
23
March 2018
www.hemenparekh.in
/ blogs
No comments:
Post a Comment