Did Chinese President Xi Jinping just blink in trade war stand-off with US?
That exact headline comes from The South China Morning Post, a leading news organization in Hong Kong.
I guess the U.S. media mavens who screamed about the dumb move Trump made against China had already turned their attention to the next round of bashing the president.
Why analyze some important information when you can focus on the salacious statements of a hooker and an FBI hack?
As The South China Morning Post reports:
In his keynote speech at the [economic meeting of the] Boao Forum for Asia—his first to a foreign audience since starting a second term as leader—Xi pledged to open China’s doors ‘wider and wider’ to the world.
The most notable pledges were the easing of foreign ownership limits in the financial and automotive industries, lower tariffs on imported cars, and improved protection for intellectual property rights.
The next day, China’s central bank unveiled a slew of measures to open up its financial sector to foreign investment, including the removal of foreign ownership caps for banks, as Beijing tried to paint itself as an open economy and a key backer of free trade and globalization.
At the beginning of a two-month stay in China, I visited Chengdu, which most people know as the home base for many of the cuddly pandas. But the city is also the home of one of the largest plants that produces Apple products. It is a massive site, where an estimated 100,000 people work.
The plant is owned and operated by Foxconn, which is the largest, private employer in mainland China with about 1.4 million workers. Ironically, the company is actually based in Taiwan, but it is so good at what it does that the mainland government tends to look the other way.
But consider this: What if President Trump decided to hit the Apple and FoxConn operations—as well as others like them that ship electronic goods the United States—with significant tariffs? At least, President Xi may not rule out that possibility.
Even though American consumers may complain about price increases on myriad products, the Chinese president knows a trade war would hurt his country a lot more than the United States.
A final note: My complaints about Facebook have nothing to do with privacy. My bone to pick is how the company has ruined any recognition of proper punctuation.
FB puts a period outside of every quotation mark, such as “I like you”.
That’s all right if you’re in the United Kingdom but not in the United States.
I spend countless hours correcting students’ misuse of punctuation in my classes, which is a product of a poor educational system that fails to recognize rules of a grammar and Facebook. Just sayin’.