{"id":37946,"date":"2018-09-18T18:45:44","date_gmt":"2018-09-18T23:45:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37946"},"modified":"2018-09-18T18:45:44","modified_gmt":"2018-09-18T23:45:44","slug":"british-govt-report-suggests-us-is-currently-winning-trade-war-with-china","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37946","title":{"rendered":"British govt report suggests US is currently winning trade war with\u00a0China"},"content":{"rendered":"
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British govt report suggests US is currently winning trade war with\u00a0China<\/a><\/h3>\n<\/div>\n
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Source: Graphic by Mohamed\u00a0Hassan<\/a><\/figcaption><\/figure>\n<\/div>\n
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Published by <\/em>INSURGE intelligence<\/em><\/a>, a <\/em>crowdfunded<\/em><\/a>investigative journalism platform for people and planet. <\/em>Support us<\/em><\/a> to report where others fear to\u00a0tread.<\/em><\/p><\/blockquote>\n

China has already declared its intent to retaliate against US President Donald Trump\u2019s new tariffs on $200 billion in Chinese imports, a move set to raise prices on consumer goods for both countries.<\/p>\n

Several analysts have demonstrated how Trump\u2019s tariffs will blowback<\/a> on the US economy. Moody\u2019s Investment Service previously warned that the tariffs would reduce US GDP by 0.25 percent in 2019, to about 2.3 percent. The American economy could take an even bigger hit if Trump proceeds with tariffs on $200 bn worth of Chinese products, Moody\u2019s warned.<\/p>\n

But whatever the impact on the American economy, an assessment by the British government\u2019s Foreign Office (FCO) confirms that China\u2019s stock market has indeed taken a direct hit from Trump\u2019s tariffs, that so far is much worse than anything the US has experienced.<\/p>\n

The newsletter report, China Financial Policy Focus<\/em>, published<\/a> in July by the Foreign Office\u2019s China Economics Network based out of the British Embassy in Beijing, says that:<\/p>\n

\u201cRising trade tensions between the US and China have only added further fuel to the fire, causing the stock market to fall more than 20% against its peak in January and leading the currency to depreciate substantially against the\u00a0dollar.\u201d<\/p><\/blockquote>\n

The biggest impact is visible in the Shanghai Composite Index, which has \u201cdeclined more than 20% since its January 2018 peak. By 28 June the index was below 2800 points.\u201d<\/p>\n

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Source: FCO, China Financial Policy Focus (Q2\u00a02018)<\/figcaption><\/figure>\n

And it\u2019s not just the Chinese stock market that has been hit\u200a\u2014\u200aso has the Chinese currency, the Renminbi (RMB).<\/p>\n

\u201cThe Chinese currency has been depreciating against the dollar, hitting a one-year low in early\u00a0July.\u201d<\/p><\/blockquote>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

British govt report suggests US is currently winning trade war with\u00a0China Source: Graphic by Mohamed\u00a0Hassan Published by INSURGE intelligence, a crowdfundedinvestigative journalism platform for people and planet. Support us to report where others fear to\u00a0tread. China has already declared its intent to retaliate against US President Donald Trump\u2019s new tariffs on $200 billion in Chinese […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[130,6113,14273,14695,805,3222,2080,827],"class_list":["post-37946","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-china","tag-insurge-intelligence","tag-medium","tag-naffed-ahmed","tag-trade","tag-trade-war","tag-united-kingdom","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37946"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37946\/revisions"}],"predecessor-version":[{"id":37947,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37946\/revisions\/37947"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}