Republican casino magnate Adelson cautioned Trump on trade war with China: WSJ

[webfact]

Republican casino magnate Adelson cautioned Trump on trade war with China: WSJ

 

FILE PHOTO: Casino magnate Sheldon Adelson and his wife Miriam listen to U.S. President Donald Trump address the Republican Jewish Coalition 2019 Annual Leadership Meeting in Las Vegas, Nevada, U.S., April 6, 2019. REUTERS/Kevin Lamarque/File Photo

 

WASHINGTON (Reuters) - A top Republican donor warned President Donald Trump in a phone call last month that his escalating trade war with China could hurt his re-election prospects, the Wall Street Journal reported on Sunday, citing people familiar with the call.

 

Casino magnate Sheldon Adelson discussed with Trump the broader implications of the U.S.-China trade war rather than the impact on Adelson's business interests, one of the people familiar with the call said, according to the newspaper report.

 

Adelson, a major donor for Republican election campaigns, is the founder and chief executive officer of Las Vegas Sands Corp <LVS.N>, a casino company that does business in the Chinese territory of Macao.

 

The White House did not have an immediate comment on the report. A representative of Las Vegas Sands Corp did not immediately respond to a request for comment.

 

U.S.-China trade tensions have led to tariffs on much of the commerce between the world's two biggest economies, hitting U.S. factories and farms.

 

While the U.S. economy has looked otherwise strong in recent months, a downturn might weigh on Trump's hopes of winning the November 2020 election.

 

Washington and Beijing are in talks to restructure their trade relations, although a deal has appeared elusive. On Friday, Chinese officials unexpectedly canceled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington.

 

(Reporting by Jason Lange in Washington; Editing by Peter Cooney)

 

-- © Copyright Reuters 2019-09-23

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[Chomper Higgot]

“Adelson, a major donor for Republican election campaigns”

 

Casino boss places bad bet and doesn’t like having to pay the loss his bet brought him.

[Puchaiyank]

There has not been a President in modern history willing to take on the subject of US jobs and technology being taken over by the Chinese...causing tremendous US indebtedness...

 

Thank you Trump!

 

Ok, you mush head marsh mellows...take your best shot!

[zydeco]

The Kochs and Adelson, two of the most corrupt forces in American politics. One Koch bit the dust last month, wasn't it? Here's to hoping Adelson is soon toes up in the dirt, too.

[pegman]

3 hours ago, Puchaiyank said:

There has not been a President in modern history willing to take on the subject of US jobs and technology being taken over by the Chinese...causing tremendous US indebtedness...

 

Thank you Trump!

 

Ok, you mush head marsh mellows...take your best shot!

So who was it that put a gun to the head of Apple and force them to take their technology and manufacture their phones in China!

[spidermike007]

26 minutes ago, pegman said:

So who was it that put a gun to the head of Apple and force them to take their technology and manufacture their phones in China!

The global market. Globalization is here to stay, no matter how hard antiquarians fight it. It is just a part of life at this stage and moving forward. You go where it is most beneficial to manufacture. It is about profitability and the shareholders, not American jobs. The US is on the decline, and will be for the remainder of our lifetimes, and into the future. It had it's day in the sun. It is an empire on the wane. It is becoming less influential, and less important by the day. And that is probably a good thing. Not saying China is a beacon of any sort. But, the US has not done a particularly great job with it's influence recently. 

[spidermike007]

There are some very basic market realities that Trump and his people just do not understand. Globalization is here to stay. They are never going to be able to make America great again. That was a brilliant campaign slogan, but that is all it is. Of course trade wars destroy the economy. Of course the US is feeling the effects of this prolonged trade war. Xi has outplayed Trump at every corner, and every opportunity. Trump is playing right into his hands. Trump will be soundly defeated in 2020, largely due to the trade war, and his complete and utter inability to negotiate his way out of a paper bag. 

[Puchaiyank]

39 minutes ago, pegman said:

So who was it that put a gun to the head of Apple and force them to take their technology and manufacture their phones in China!

That one they got for free...millions of potential new customers...other technologies they extorted information as a pre-requisite to doing business...or they just outright stole the technology... 

[Dumbastheycome]

7 minutes ago, Puchaiyank said:

That one they got for free...millions of potential new customers...other technologies they extorted information as a pre-requisite to doing business...or they just outright stole the technology... 

As the single biggest consumer market those that fell over themselves in the production move to China in the haste for single minded  greed basically  gave it  all away in the pay to play game . It is  not unrecognized that the Chinese have historically been very adept in business and so the belated accusations of total  extortion and theft are more than a little lame. In accommodating the Chinese with the obvious necessary details re' technologies for production and not having any realistic mechanisms in the deal to effectively block the transfer of those IP technologies the  game was lost at the start. Industrial  espionage is  not  an exclusive  to the Chinese either. In some areas China is now industrially strong enough and has started independent r&d in some important areas. I doubt they will be so careless as to so willingly give it away.

Meanwhile the "trade war" is negatively impacting globally and little of meaningful if any advantage to the majority of the US citizens. Perhaps the increased tax tariffs might be good to pay for the illustrious wall to  deny cheap labour?

[thaiguzzi]

5 hours ago, zydeco said:

Here's to hoping Adelson is soon toes up in the dirt, too

By the look of that photo in the OP, he already is, or damn close!

[scorecard]

1 hour ago, spidermike007 said:

There are some very basic market realities that Trump and his people just do not understand. Globalization is here to stay. They are never going to be able to make America great again. That was a brilliant campaign slogan, but that is all it is. Of course trade wars destroy the economy. Of course the US is feeling the effects of this prolonged trade war. Xi has outplayed Trump at every corner, and every opportunity. Trump is playing right into his hands. Trump will be soundly defeated in 2020, largely due to the trade war, and his complete and utter inability to negotiate his way out of a paper bag. 

 

Agree and IMHO there is a case to say Mr Xi and his team just focused on what's best for China as their strategy. 

 

 

[Morch]

5 hours ago, zydeco said:

The Kochs and Adelson, two of the most corrupt forces in American politics. One Koch bit the dust last month, wasn't it? Here's to hoping Adelson is soon toes up in the dirt, too.

 

I think the Kochs aren't/weren't Trump supporters, though. No donations to campaign and at least a couple of public/media campaigns sponsored against Trump policies (if for their own agenda) - the Muslim travel ban thing, and the tariffs.

[Srikcir]

6 hours ago, Puchaiyank said:

causing tremendous US indebtedness

If you're referring to the huge negative trade balance the U.S. has had for decades with China and growing under the Trump administration - that's not debt.

But China has been a willing partner to lend its U.S. billions through its purchase of U.S. Treasury bonds - that is debt. Under Trump U.S. national debt has surged jumping by $1.36 trillion. The fastest pace since 2012! https://www.bloomberg.com/news/articles/2018-12-12/u-s-debt-under-trump-has-swelled-by-size-of-brazil-s-economy

President Donald Trump said as a candidate in 2016 that he would completely eliminate the national debt within eight years. https://markets.businessinsider.com/news/stocks/us-deficit-tops-trillion-first-time-since-2012-trump-promise-2019-9-1028524507

Hopefully, he won't get the extra 4 years of fiscal failure.

[Lacessit]

Many Americans do not understand the pace of development in China. It has thousands of kilometres of new tarmac and rail infrastructure. It has invested heavily in high-speed rail. Chinese steel was absolute <deleted> 40 years ago. It now has some of the most advanced steel mills in the world.

The American obsession with short-term gain is coming back to bite them. One can travel from Beijing to Kunming in the south, or Turpan in the west, Harbin in the north, all on high speed trains. What has America got? About 100 km of Amtrak high speed in the whole of the USA. Decaying bridges everywhere.

The Chinese have always thought long-term. In a trade war, I'm predicting they will win.

Make America Great Again? A BS slogan from a flim-flam man.

 

[Nyezhov]

1 minute ago, Lacessit said:

Many Americans do not understand the pace of development in China. It has thousands of kilometres of new tarmac and rail infrastructure. It has invested heavily in high-speed rail. Chinese steel was absolute <deleted> 40 years ago. It now has some of the most advanced steel mills in the world.

The American obsession with short-term gain is coming back to bite them. One can travel from Beijing to Kunming in the south, or Turpan in the west, Harbin in the north, all on high speed trains. What has America got? About 100 km of Amtrak high speed in the whole of the USA. Decaying bridges everywhere.

The Chinese have always thought long-term. In a trade war, I'm predicting they will win.

Make America Great Again? A BS slogan from a flim-flam man.

 

Have you seen the block after block of brand new empty buildings in China? I have. To a certain extent, its a house of cards.

 

Besides, if the commies want to put a rail line in, they just punch it through a wetland or displace people and dont say a word comrade. Try that in California or down the East Coast.

 

 

[metisdead]

An off topic trolling post and the replies have been removed. 

[bristolboy]

42 minutes ago, Lacessit said:

Many Americans do not understand the pace of development in China. It has thousands of kilometres of new tarmac and rail infrastructure. It has invested heavily in high-speed rail. Chinese steel was absolute <deleted> 40 years ago. It now has some of the most advanced steel mills in the world.

The American obsession with short-term gain is coming back to bite them. One can travel from Beijing to Kunming in the south, or Turpan in the west, Harbin in the north, all on high speed trains. What has America got? About 100 km of Amtrak high speed in the whole of the USA. Decaying bridges everywhere.

The Chinese have always thought long-term. In a trade war, I'm predicting they will win.

Make America Great Again? A BS slogan from a flim-flam man.

 

China's position is not nearly so secure as you might think. China's economy was a lot more dynamic before Xi gained control. Under XI, state enterprises are being favored over private ones. The private sector is now being forced by the government to help fund failing government enterprises. Local government are given growth targets not based on need but no keeping GDP up. A very foolish way to do things. But if you basically don't understand market economies and are a party hack, as Xi is, this is what a one trick pony does. While Chinese government debt is low, private debt is huge and lots of it consists of loans to zombie enterprises.

https://www.bloomberg.com/quicktake/chinas-debt-bomb

[Lacessit]

2 hours ago, Nyezhov said:

Have you seen the block after block of brand new empty buildings in China? I have. To a certain extent, its a house of cards.

 

Besides, if the commies want to put a rail line in, they just punch it through a wetland or displace people and dont say a word comrade. Try that in California or down the East Coast.

 

 

I never said China was subject to the same level of regulation as America. The guy in power makes the rules. Trump is hobbled in comparison, which is not such a bad thing.

IMHO the Chinese are operating on the same principle as Kevin Costner in "Field of Dreams".

[billd766]

11 hours ago, Puchaiyank said:

There has not been a President in modern history willing to take on the subject of US jobs and technology being taken over by the Chinese...causing tremendous US indebtedness...

 

Thank you Trump!

 

Ok, you mush head marsh mellows...take your best shot!

You just couldn't resist the insult in the last line, could you?

[bristolboy]

2 hours ago, Lacessit said:

Many Americans do not understand the pace of development in China. It has thousands of kilometres of new tarmac and rail infrastructure. It has invested heavily in high-speed rail. Chinese steel was absolute <deleted> 40 years ago. It now has some of the most advanced steel mills in the world.

The American obsession with short-term gain is coming back to bite them. One can travel from Beijing to Kunming in the south, or Turpan in the west, Harbin in the north, all on high speed trains. What has America got? About 100 km of Amtrak high speed in the whole of the USA. Decaying bridges everywhere.

The Chinese have always thought long-term. In a trade war, I'm predicting they will win.

Make America Great Again? A BS slogan from a flim-flam man.

 

It's really not about the American obsession with short term gain. It's about the Republican obsession with transferring wealth to the rich. The tax cuts that Republicans gave to the wealthy could have financed a huge amount of much needed infrastructure renewal and upgrades. 

[bendejo]

12 hours ago, zydeco said:

The Kochs and Adelson, two of the most corrupt forces in American politics. One Koch bit the dust last month, wasn't it?

Fret not, plenty of vermin to take the places of the ones that die off.

Adelson is the force behind DT's strong pro-Israel stance, that was made pretty clear in the 2015-16 campaign; if he were to pass on I would expect DT to not be so interested in that country.  When the money dries up the interest waivers.  I doubt if ol' Shelly here could foresee that betting on orange would affect his Macau business.

 

 

[Lacessit]

11 hours ago, bristolboy said:

It's really not about the American obsession with short term gain. It's about the Republican obsession with transferring wealth to the rich. The tax cuts that Republicans gave to the wealthy could have financed a huge amount of much needed infrastructure renewal and upgrades. 

I have yet to observe a conservative government anywhere that does not do what you are describing, in varying degrees.

OK, I'm a leftie pinko commie.

[bristolboy]

42 minutes ago, Lacessit said:

I have yet to observe a conservative government anywhere that does not do what you are describing, in varying degrees.

OK, I'm a leftie pinko commie.

I agree with you. But you called it an "American obsession."

[metisdead]

Some off topic posts and replies have been removed. 

 

A post containing an off topic video using profanity has been removed.