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The CEO of a U.S.-based global investment firm said Tuesday that POTUS Donald Trump’s tariff regime against China is having the desired effect of both slowing Beijing’s economy while “holding a gun to the head” of a county that is used to enormous economic growth.
On Monday, the Chinese government announced in response to its slowest economic growth since 1990 that it was willing to spend as much as $1 trillion to close the yawning trade deficit with the United States, something that provides the Trump administration with a huge amount of new leverage with which to win concessions with Beijing over the imbalance, Fox Business reported.
Thing - Man - President-for-Life - Xi - Jinping
“You gotta remember one thing, a strong man like [Chinese] President-for-Life Xi Jinping would not even be negotiating with President Trump, they wouldn’t even come to the table if we weren’t holding a knife to their throat, a gun to their head, if they weren’t in danger because of what we’re doing,” said Donald Luskin, head of TrendMacro.
“The United States is a huge customer of China, and we threatened to disengage with them,” he noted further. “We threatened to throw them into something they’ve never experience before…China simply does not know what a recession looks like.”
Luskin - Pressures - China - Economy - Layoffs
Luskin said that recessionary pressures on China’s economy could force large layoffs followed by massive protests and unrest, something the communist government cannot afford if it hopes to stay in power.
“In a command-and-control economy like that where social cohesion is so important,...
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