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China US Trade War: The world's two largest economies in Tussle over Trade Disparities - Alldamoney

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China US Trade War: The world's two largest economies in Tussle over Trade Disparities

Trade War
US-China Trade War 
The Trump administration appears bent on blindly stumbling into trade warfare with China even though America seems inadequately prepared, unclear objectives and without clear exit strategy. Mr. Trump recently escalated  the situation on ground by threatening to impose more tariffs on Chinese imports a show that his authorities isn't willing to compromise anytime soon.
President Trump has stated that China’s technique to trade is based on unfair practices, and on stolen American knowledge.

Though it’s true that over the years, Chinese leaders have used unfair trade rules to develop their country which include keeping its money undervalued to help push exports and force American corporations to give up coveted technology, while blocking off out a whole sector of its economic system, which includes monetary services, from foreign competition. Some of the largest American tech corporations, like Facebook and Google, are banned from operating in china.

The situation, has escalated right into a trade war among the US and China pushing each nations to impose tariffs on items from their respective countries.

And With US President Donald Trump threatening more levies on Thursday thinking about a USD 100 billion additional tariffs against China, when he announced a fresh price lists on 106 Chinese made products.



 Meanwhile, although Chinese leaders earlier stated they don’t need a trade war, a latest press release from a Ministry of Commerce representative signify otherwise it says “If the U.S. goes through with an additional $100 billion in tariffs, China will not hesitate to fight back and its prepared to do so”.
"We will immediately fight back with a major response," the representative said during a Chinese-language briefing with reporters Friday in Beijing. "We have no other choice."
"We feel America is very arrogant. They have taken a wrong action. The result is that they will hurt themselves. If they release the list of $100 billion tariffs, China is prepared. And will not hesitate," he added.

US Treasury Secretary Steven Mnuchin said there's a "potential for a trade war" with China, but expressed hope that the world's two largest economies can work out their differences.

China has recently launched a competitive and luxurious plan to retool its economy because it aims to dominate in robotics, aerospace, artificial intelligence for the future. The Chinese authorities set apart about Three hundred billion USD in order for government to assist  to develop technology industries through supplying of  low interest loans from state-controlled banks, ensuring huge market shares in China and offering substantial research.

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