Chinese economy weakening due to trade tension


SLOWING DOWN HERE HERE. SPEAKING OF SLOWING DOWN, NEW DATA OUT FROM CHINA, NOT GOOD FOR THE CHINESE ECONOMY AT ALL. THE CHINESE ECONOMY CERTAINLY WEAKENING. THAT IS WHAT THE FACTORY DATA SHOWED. CURRENCY FOLLOWING 2 1/2%, COMING UP ON END OF THE MONTH. FACTORY EMPLOYMENT GAUGE, LOWEST LEVEL SINCE 2009, IMPORTS FROM CHINA, DOWN 14% THIS YEAR, WHICH UNDOUBTEDLY SPEAKS TO THE TRADE TENSIONS. A NUMBER OF COMPANIES LOOKING TO SHIFT OPERATIONS OUT OF CHINA. IT HAS BEEN A LIST WE’VE BEEN KIND OF PUTTING TOGETHER PIECE BY PIECE. IT’S A LIST CONTINUING TO GROW. WHETHER, VIETNAM, CAMBODIA, WHAT HAVE YOU. FORMER U.S. AMBASSADOR TO CHINA, GARY LOCKE, JOINS US NOW, ON KIND OF WHAT’S NEXT. THERE IS NEW WARNING OUT, AMBASSADOR, CHINA WANTS TO BLACKLIST A NUMBER OF AMERICAN COMPANIES. WHAT DID YOU MAKE OF THAT?>>OBVIOUSLY THESE TRADE TENSIONS CAN GET OUT OF HAND, AS THE PREVIOUS GUEST WAS TALKING ABOUT THE POSSIBLE MEXICO TARIFFS SAID, IT WILL BE CONSUMER ULTIMATELY PAYS. IT WILL HURT AMERICAN COMPANIES AND ULTIMATELY PASSED ON TO AMERICAN CONSUMERS, WHETHER THE STUFF YOU BUY AT COSTCO, WALMART, CHINA, THE LIST GOES ON AND ON, EVEN AUTOMOBILES. SOME OF THESE TARIFFS ON CHINA WILL BE ON SMALL PARTS THAT COME IN FROM CHINA, PUT INTO AMERICAN-MADE AUTOMOBILES, THAT WILL RAISE SIGNIFICANTLY COST OF AMERICAN-MADE AUTOMOBILES. SO IT WILL HURT THE AVERAGE HOUSEHOLD ANYWHERE FROM FIVE TO $800. IF YOU’RE PLANNING MAKING A MAJOR PURCHASE, WHETHER LAWN FURNITURE OR BARBECUE SET OR AN AUTOMOBILE, IT WILL COST YOU EVEN MORE. CONNELL: SO THE QUESTION THROUGHOUT THIS WHOLE NEAR TERM QUESTION, WHETHER OR NOT THEY, THE CHINESE HURT MORE THAN US, THE AMERICANS. WE’RE PAST THE IDEA CHINA PAYING TARIFFS. WE KNOW AMERICAN COMPANIES ARE, TO YOUR POINT, PASSING ALONG TO CONSUMERS. THERE IS CERTAINLY PAIN HERE. WE’VE SEEN THAT. CHINA’S ECONOMY, THE MANUFACTURING NUMBER IS ROUGH. IN CONTRACTION TERRITORY OVERNIGHT. IMPORT FIGURES IS INTERESTING. IMPORT FIGURES FROM THE UNITED STATES INTO CHINA IS DOWN 14%. OTHER COUNTRIES ARE BENEFITING. VIETNAM UP 40%. CAMBODIA, 24. TAIWAN UP 21%. SOUTH KOREA UP 18%. THERE IS SHIFTING OF THE SUPPLY CHAIN. HOW WILL THAT PLAY OUT? YOU KNOW WILL WE STILL GET LOW COST PRODUCTS FROM ASIA, NOT JUST FROM CHINA?>>I THINK YOU WILL STILL CONTINUE TO GET LOW-COST PRODUCTS FROM ASIA BUT ALSO STILL GETTING THE BULK OF IT COMING FROM CHINA. SOME COMPANIES WILL BE ABLE TO MOVE THEIR SUPPLY CHAIN TO OTHER COMPANIES. IN FACT OTHER COUNTRIES. IN FACT THAT IS A GOOD IDEA. YOU DON’T WANT TO BE OVERLY RELIANT ON ANY ONE COUNTRY FOR THE SOURCE OF YOUR MATERIALS. AT THE SAME TIME CHINA IS DOING THE SAME THING WITH THE PENALTIES AND BAN ON AMERICAN COMPANIES SELLING ANYTHING TO HUAWEI. HUAWEI MAKES MORE THAN JUST 5G EQUIPMENT OR, YOU KNOW, SWITCHING EQUIPMENT FOR OUR CELLULAR NETWORK. THEY MAKE INEXPENSIVE, CHEAP, CELL PHONES, NOT IN ANY WAY COMPETITOR TO iPHONES. THESE ARE LOW COST, CHEAP, CELL PHONES AFFORDABLE TO PEOPLE IN DEVELOPING COUNTRIES. WHEN THE UNITED STATES SAYS THAT NO U.S. COMPANY CAN SUPPLY ANY EQUIPMENT TO HUAWEI, NOT EVEN THE GLASS THAT IS USED ON A CELL PHONE, THAT IS FORCING HUAWEI AND CHINA TO SAY, OKAY, WELL, WE DON’T WANT TO BE DEPENDENT ON AMERICAN SUPPLIERS AND TECHNOLOGY. WE’RE GOING TO HAVE TO REALLY FOCUS ON DEVELOPING OUR OWN HOMEGROWN COMPANIES AND SEMICONDUCTORS AND GLASS AND EVERYTHING ELSE. CONNELL: MUCH MORE, AMBASSADOR LOCK, THAN JUST A TRADE DISPUTE? IS IT SOME SUGGESTED A COLD WAR A NEW TECH COLD WAR? WHAT IS THIS?>>I’M VERY CONCERNED THAT IT IS GOING TO ESCALATE AND IT WILL GET OUT OF CONTROL. WHETHER IT SPILLS OVER INTO RARE EARTHS. CHINA ONLY MINES ABOUT 30% OF THE RARE EARTHS IN THE WORLD, BUT THEY PROCESS ALL OF THE FINAL PRODUCTS THAT ARE USED, EVEN BY OUR AMERICAN MILITARY, MADE BY, USED BY U.S. COMPANIES, THAT THEN ARE PUT INTO COMPONENTS FOR THE U.S. MILITARY, VERY SOPHISTICATED EQUIPMENT. AMERICAN COMPANIES CAN’T READILY SUBSTITUTE THOSE SUPPLY CHAIN PRODUCTS. CONNELL: RIGHT.>>SO THIS IS GOING TO HAVE DEEP REPERCUSSIONS IN TERMS OF GLOBAL TRADE AND ECONOMIC AND SUPPLY CHAIN RELATIONSHIPS BETWEEN THE UNITED STATES, CHINA, REST OF THE WORLD. CONNELL: WE COULD BE MAKING CHANGES FOR BET OR WORSE THAT

100 thoughts on “Chinese economy weakening due to trade tension

  1. This is over blown and Ambassador Locke sounds more like he supports China's ability to penalize, tariff, etc American companies…… but we shouldn't do the same thing they are doing! That's never been how it worked in Trade. Trade should benefit both sides and not be used to to over balance Trade only on the Chinese Side! ……..that's what these Pro Globalists….. like 'Locke' believe!

    Which tells us he's not only on our payroll and probably works more for Corporations than for Consumers best interest. That's easy to see every time they claim it'll hurt consumers. That's because….. he doesn't seem to realize that the competition is out there. All we need to do is allow Trade to seek it's own level. By using tariffs near equal to those they charge us, we see Trade pick up elsewhere and if Corporations are really smart, like Samsung say…. they simply move production to the markets where they sell the most!

    THAT's WHAT TARIFFS DO…. when left to do their job in these particular cases! Where they are more worried about Foreign Economies than our own and thus continue to have products made in China!!! …….in the END….. Trade is all about the Customer and how Business has always been most successful…… by putting customers FIRST!

  2. What exactly is the problem here?
    Factory will move to other countries
    Besides almost every product they produce is low quality crap

  3. The USA has plenty of resources for purchasing a manufactured product. China has precious few big customers. The fact of the matter is the "buyer" is always in control.

  4. I don’t mind… as long as someone put the thugs in their place, they build China with American money and now they think they can continue to rip us off??? Just remember that there is India who is ready for American investment 🇺🇸

  5. goPro was founded by a guy in Australia, now you have 10 other copy cat companies doing the same thing. China does not care about anyone but china. Let them Blacklist us. Other countries will follow us and raise there status. We are strong the world is strong.

  6. Man these fools just say the same thing over and over. If these companies shift production the prices don't go up. Why do democrats only complain about taxes when we are taxing our foreign competetors?

  7. If trade war is hurting the Americans, why is China so pissed? They should be happy right? Bloody commies

  8. Thailand is making Honda EU-2000i generators that really suck and give Honda power equipment a bad name. My original EU-2000i made in Japan is 16 years old working fine. My new one needs a new inverter board in 2 years 3 months. Honda down the drain.

  9. "There's certainty some pain here" he says? He right: the pain of low employment, high consumer confidence, and an economy growing at 3%. Oh ya, and those jobs Obama said "won't come back"…they're baaaaaaaaack!

  10. The patriots know very well the trade war will have a negative effect on China. The MSM outlets would keep on with their propaganda to deceive ppl, and create false narratives. The Libel laws have to be changed so they can be accountable, hmm 🤔. Enemies of America society, like how Pres. Trump been pointing out. Don’t listen to them oo, they’re bent on destroying America. Let the “awakened” fight back, reject their narratives and stop watching them all together to drive their ratings down. 👎🏾…they’re losers. 👎🏾👎🏾

  11. There are a lot of comments is very funny ,Tariff on goods from China and Mexico will make American pay more money forever not just for a moment ,because there will be no cheap goods any more

  12. It is insane for the U.S. military to depend on China for anything. That moron Locke should have pointed that out as his concern instead of worrying about corpororatists' bonuses and stock options.

  13. To make a fair trade, I am willing to pay more at Wal-Mart. Trump administration is trying to do the job for our country.

  14. We rely on generic drugs, cancer drugs antibiotics, vitamins made in china. China could restrict these into USA, or use them as chemical warfare by poisoning the drugs. USA, has had to pull some drugs off the market in past due to toxic ingredients in the drug. Also look at the baby powder fiasco in china, corruption causes this.

  15. I am ok with paying a bit more for my goods as long as this means we are taking care of the issue with China ripping off every business and product we create. If that means more businesses and more jobs for the US I’m for it

  16. the president is very skilled at obtaining necessary guarantees without the party being leveraged domestically (and definitely if he can honestly advertise success). chinas domestic circumstances of expectation greatly favor our systems options and in that language the president has lots of latitude. this tension evolves the subtraction of unwarranted obligation regardless.

  17. China overstepped their boundaries with the United States. The economy of China is dependant upon United States consumers. They are the ones that provide jobs for the Chinese so that they can have a better quality of living. China needs the United States more than the United States needs China.

  18. Good ! Happy to pay more. Screw China !!! those companies will eventually move out of the communist government of China.

  19. Chinese are nothing but thieves with their fake smiles. Our American companies spend an enormous amount of time bringing new products to market and those thieves steal it. It's truly an outrage. One Can imagine the hours our fellow Americans have spent away from their family at the office or design center trying to create something of value and to have communist steal it really angers me. American needs all our companies and government computers locked down with the best security systems we can create. It's lacking right now and that has to change

  20. BOYCOTT CHINA !!!!WE DON'T NEED THEM !!!!EVERY DEM RUNNING FOR OFFICE FROM CALI ARE CORRUPTED!!!!!

  21. Ok guys and gals, what's the logic to this, when all business move out of china, but most of it still not coming back to america how can america be great again?

  22. Lol. Great to c the commons from the people from American. However. If u may find the opposite options on the other videos common. For me the Captain American is no the one who wanna save the world but only the USA.

  23. Don’t be jealous if Chinese Hackers are better than Americans! Huawei phones are the best backdoor devices.

  24. Stupid storey the Chinese devalue their currency to entice the world to buy !!! American middle class will loose

  25. 1:33 LAWN FURNITURE?!?! This ex-ambassador is clearly a never-Trumper with that kind of moronic comment. Lawn furniture is a DURABLE GOOD, people are not going out to buy new sets every year. Besides, if you expected to get lawn furniture made in China you'd expect to be replacing it every year when it falls apart, doesn't survive the summer let alone the winter outdoors. Virtually all good quality lawn furniture: metal/wrought iron tables, chairs, sun loungers, etc are not being made in China. Unless you plan on buying plastic from China you won't need to worry much about a tariff… the stuff was already cheap to begin with (in price and in quality).

    But getting back to the ex-ambassdador, he's not an economist or someone particularly skilled in international trade agreements/relations… tariffs are a suitable means to an end to entice/coerce the opposing nation to either decrease their trade deficit with you by increasing imports or else decreasing the trade barriers in place that prevent exports from the other side from entering the new market and at a price point that is not prohibitively expensive to render the importation quantities virtually nil (if no one can afford to buy). With China, unless you're talking about the upper middle classes and above, the average low-wage employee/household in China cannot dream of purchasing American goods because the costs to manufacture are simply to high and purchasing power is fractions of that in the United States. If both countries had similar household income levels then perhaps it would be a level playing field but at the moment, the U.S. is playing from a handicapped position without a way to offet reduced purchasing power in Chinese households.

  26. The U.S news says China's economy is weakening.
    Amazon, Sears, Walmart and Ebay aren't complaining!!!
    Made in China is unstoppable!😅😅😅😅😅😅😅

  27. Hey Locke, stop being such a pansy. This all means more manufacturing comes back home! Sure it will take time and it may hurt for a bit, but the outcome is far better than what we have now and China stealing the worlds tech.

  28. It's time for fair trade and Donald Trump can make that happen. Screw Mexico ! Buy American and you don't have to cry about the tariffs.

  29. You folks are forgetting that it's American companies that moved to China to make more profit in the first place.

  30. The rare-earth card haven't been played by China and Murican already feeling good about themselves. Too much Fox news do make people dumb 😌

  31. The interviewer explains that the Chinese economy is in trouble and then says that we know the US consumer is paying for the tariffs – what a moron! If the US consumer was the only one paying for the tariffs, the Chinese economy wouldn't be effected. Either the Chinese pay for the tariffs with reduce pricing or the Americans buy from somewhere else. In some cases we buy from other Americans and then we win twice. We never should have been doing business with Chinese Communists in the first place.

  32. Easier to say! China has a huge consuming market that american companies sells products to. Setting up high tariffs would hurt US companies, not just Chinese companies.

  33. Dear China. Please start sending more Polytech legend, Ak47’s. Hell, send more Norinco Ak47’s as well. After that, send Americans all of your beautiful, Chinese women. You don’t need them anymore, because you’ve all been neutered by the average American male. Thank you…

  34. Oh yes we can and will….I've been buying products made in Mexico and Canada! Let's be clear…WE NO LONGER WANT YOUR LEAD AND CHEMICAL based products…China! My kid is 28 years old. Back in the 90s….the crayons were found to have lead in them.. Soooo f*** China and the monopoly making our kids suffer from Autism and other ailments…just saying.. Lord we have to come together or our job's shipped out mean nothing

  35. No problem. We’ll pay more. Just bring our jobs back.
    Besides. Under what president did this guy servias ambassador?
    Hmmmm, I wonder.

  36. Anti-American liberals squealing like pigs. They hate when Americans gain jobs manufacturing goods in America.

  37. As a consumer companies never passes the saving to us so screw them bring these jobs back to America, I will pay more for American Made products keep America workers employ please.

  38. The Chinese Communist Party is the enemy of their own people and the USA. Wake up American consumers. Buy from anywhere but China when possible! US , Mexico, Canada , other Asian countries, they are out there and online!

  39. Better to pay an extra $2 for a bag of avocados, a few $100 for a car, than lose our jobs, and allow China to steal our tech secrets, et all, to use against us.

  40. It's because China is communist. If you want to, watch this if you want to know what leads to it. https://www.youtube.com/watch?v=Lp4gZ3Gt_Ak

  41. Gary, you are wrong, Chinese exporters are putting the tariffs pressures on their Chinese suppliers, not to the US buyers, why you don’t get this after years working in China? Communist is the biggest treat to USA.

  42. wall street were are the American jobs the banker are responsible for global warming and the destruction of America by using slave labor and forcing our industries to move to a communist country were they disregard all humanity by dumping poisons into our atmosphere and into our oceans not caring about the consequences at all let's take A look at the mining of rear earth EPA shut american mines down because of the high levels of poisons in the refining process that destroying the earths ozone layer this is irresponsible on our part to allow china to continue the poisoning of our atmosphere and the other by products pumped into our oceans making a toxic mess and they do not care !!!!!!! and they will never change the same thing is happening in mexico !!!!!!!!!!!!!!!!!!!! this banker is saying it all ok what do you think???????????

  43. Just look at the U.S economy. Big debt, crooked goverment, crooked big investors, crime rates, gang illegal drug problems. suggish economic growth rate. Donald Trump, republicans, big investors, Wall street bankers are dirty cause serious problem to the U.S dconomy, and society.

  44. BOYCOTT, BLOCKADE, EMBARGO, BAN THE COMMIES! FREEEEEEEEDOM 🇺🇸🇹🇼🇺🇸🇹🇼🇺🇸🇹🇼🇺🇸🇹🇼🇺🇸🇹🇼🇺🇸🇹🇼🇺🇸🇹🇼🇺🇸🇹🇼I don't feel it. Hit em HARDER TRUMP👱

  45. Because Red China is communist, no country should depend heavily on them. They will exploit, it's in their nature. The USA, as one of many in the world, needs to use multiple sources of supplies to prevent blackmail. I do NOT trust China anymore since they are trying to control the South China Sea. The Tariffs by Trump are probably preventing a world war. As China goes down, a lot of the trouble they are causing will also go away. The USA needs to back the four democratic Chinese possessions.

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