{"id":38098,"date":"2018-09-21T18:29:25","date_gmt":"2018-09-21T23:29:25","guid":{"rendered":"http:\/\/olduvai.ca\/?p=38098"},"modified":"2018-09-21T18:29:25","modified_gmt":"2018-09-21T23:29:25","slug":"trump-wont-back-down-bannon-warns-trade-war-will-be-unbearably-painful-for-china","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=38098","title":{"rendered":"“Trump Won’t Back Down”: Bannon Warns Trade-War Will Be “Unbearably Painful” For China"},"content":{"rendered":"
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“Trump Won’t Back Down”: Bannon Warns Trade-War Will Be “Unbearably Painful” For China<\/a><\/span><\/h3>\n<\/div>\n
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Steve Bannon – who claims to have helped President Trump draft the battle plan for the ongoing trade war, says that\u00a0Trump’s strategy is to make the conflict\u00a0“unprecedentedly large” and “unbearably painful” for Beijing, according to an exclusive interview\u00a0with the South China Morning Post<\/em><\/a>.<\/p>\n

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The\u00a0ultimate goal<\/strong>, says Bannon – is not just to force China to give up its “unfair trade practices,” but to “re-industrialize America<\/strong>” since manufacturing used to be the core of the nation’s power. Bannon also criticized the “Made in China 2025” plan for Beijing to catch up with the West in 10 key tech sectors – saying that Chinese firms were relying in generous government support to reduce future technological reliance on the West.<\/p>\n

Bannon, who claimed to have helped Trump draw up the trade war plan, said that in the past, tariffs had been limited to imports of between roughly US$10 billion and US$30 billion but the sheer magnitude of the more than US$500 billion in question this time had \u201ccaught Beijing off guard\u201d.<\/p>\n

\u201cIt\u2019s not just any tariff. It\u2019s tariffs on a scale and depth that is previously inconceivable in US history,\u201d Bannon said.<\/p>\n

He said Beijing had relied on \u201cround after round of talks\u201d to take the momentum out of the US punitive measures, but the delaying tactics would not work.<\/p>\n

\u201cThey always want to have a strategic dialogue to tap things along. They never envisioned that somebody would actually do this.\u201d –SCMP<\/a><\/p><\/blockquote>\n

Bannon says he and Trump were convinced that the US would win a trade war, and that Chinese elites were worried about the same, with “so many senior Chinese officials exhausting all channels” in order to move their money out of China and snap up West Coast and New York real estate.<\/p>\n

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

“Trump Won’t Back Down”: Bannon Warns Trade-War Will Be “Unbearably Painful” For China Steve Bannon – who claims to have helped President Trump draft the battle plan for the ongoing trade war, says that\u00a0Trump’s strategy is to make the conflict\u00a0“unprecedentedly large” and “unbearably painful” for Beijing, according to an exclusive interview\u00a0with the South China Morning […]<\/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":[2045,7844,1784,2520,21797,15730,15706,805,19372,3222,4318],"class_list":["post-38098","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-beijing","tag-donald-trump","tag-exports","tag-imports","tag-made-in-china-2025","tag-south-china-morning-post","tag-steve-bannon","tag-trade","tag-trade-practices","tag-trade-war","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38098","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=38098"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38098\/revisions"}],"predecessor-version":[{"id":38099,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38098\/revisions\/38099"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}