Surprised no reaction from BYD owners on this forum

[webfact]

Xi says world needs China, U.S. to have stable relationship

REUTERS

 

Chinese President Xi Jinping attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 17, 2017. REUTERS/Ruben Sprich

 

BEIJING (Reuters) - The world needs China and the United States to have a stable and cooperative relationship, Chinese President Xi Jinping told U.S. Vice President Joe Biden, just days before new uncertainty looms with Donald Trump taking office as president.

 

Meeting on the sidelines of the World Economic Forum in Davos, Xi told Biden that he "positively appraised" his efforts to increase friendship and mutual understanding between the two countries, China's Foreign Ministry said late on Tuesday.

 

"In the 38 years since the establishment of diplomatic relations, relations between the two countries have weathered wind and rain, but generally have continued to forge ahead," the statement paraphrased Xi as saying.

 

Under President Barack Obama, there has been a "correct" development in relations, and important and positive results achieved, with trade and people-to-people exchanges reaching new highs, Xi added.

 

"The basic interests of the people of both countries and the world need China and the United States to work hard, to form a long-term, stable cooperative relationship," Xi said.

 

The statement cited Biden as saying that the United States hopes the two countries can continue to deepen mutual trust and expand cooperation.

 

It made no mention of Trump, though China's top diplomat, State Councillor Yang Jiechi, who last month met a senior advisor to Trump, also attended the Xi-Biden meeting, the foreign ministry said.

 

Trump, who takes office on Friday, has rattled Beijing with threats to impose tariffs on Chinese imports and by questioning the United States' commitment to the "one China" policy, under which Washington acknowledges China's position that Taiwan is part of its territory.

 

(Reporting by Ben Blanchard; Editing by Simon Cameron-Moore)

 

-- © Copyright Reuters 2017-01-18

[lovelomsak]

Everything he said may be right. So when will China start doing their part to bring this to reality? So far it has been America only trying to make it happen and China a greedy little kid taking advantage.

[overherebc]

The world needs China so it can continue to dump it's underpriced steel and other underpriced crap on other countries, destroy the others countries manufacturing base then allow Chinese compnies to move in and rescue them with more of their low quality products used to rebuild or take over the industry concerned.

Anyone been to Karratha lately?

[overherebc]

Worked in a few test lab's in my time and one had a box with a label that read 'Chinese steel specimens, handle carefully, do not drop'

[elgordo38]

6 hours ago, webfact said:

 

BEIJING (Reuters) - The world needs China and the United States to have a stable and cooperative relationship, Chinese President Xi Jinping told U.S. Vice President Joe Biden, just days before new uncertainty looms with Donald Trump taking office as president.

Yes but only on our terms. 

[spidermike007]

This new relationship is going to be a fascinating one. Someone does need to stand up to China. Obama barely resisted their show of force in the SCS. I think their ambitions are heinous. As far as trade goes, China has the advantage. Many do not know that you cannot export anything over $100 in value to China, unless it is going to a state controlled company, or a company that has jumped over incredible hoops. An individual has no right to purchase anything online, and have it sent to them. Which means the average small business person cannot do business with Chinese customers. The very definition of a closed economy. The economy there is so tightly controlled, it is nowhere near a level playing field. So, I am ok with someone getting tough with the Chicoms. But, where will it lead? One thing I do not think Trump understands, is that this is a very different economy, and the US is a very different country than it was 30 years ago. The US has alot less influence, and trade is more evenly distributed. China used to export something like 55% of it's good to the US. That number is down to about 22% these days. China needs to be careful. The US represents a half trillion dollars of exported goods. But, Trump needs to be careful too. We export $161 billion, as of 2015 to China. And if those imported goods were jeopardized alot of American companies would be hurting, and alot of jobs would be lost. This is not a simply problem, and it requires a rather complex strategy. 

 

U.S.-China Trade Facts

U.S. goods and services trade with China totaled an estimated $659.4 billion in 2015. Exports were $161.6 billion; imports were $497.8 billion. The U.S. goods and services trade deficit with China was $336.2 billion in 2015.

China is currently our largest goods trading partner with $598 billion in total (two way) goods trade during 2015. Goods exports totaled $116 billion; goods imports totaled $482 billion. The U.S. goods trade deficit with China was $366 billion in 2015.

Trade in services with China (exports and imports) totaled an estimated $61.3 billion in 2015. Services exports were $45.4 billion; services imports were $15.9 billion. The U.S. services trade surplus with China was $29.5 billion in 2015.

According to the Department of Commerce, U.S. exports of goods and services to China supported an estimated 251 thousand jobs in 2014 (latest data available) (678 thousand supported by goods exports and 273 thousand supported by services exports).

• China was the United States' 3rd largest goods export market in 2015.
   
• U.S. goods exports to China in 2015 were $116 billion, down 6.1% ($7.5 billion) from 2014 but up 182% from 2005. U.S. exports to China are up 506% from 2001 (pre-WTO accession). U.S. exports to China account for 7.7% of overall U.S. exports in 2015.
   
• China was the United States' largest supplier of goods imports in 2015.
   
• U.S. goods imports from China totaled $482 billion in 2015, up 3.2% ($15 billion) from 2014, and up 98% from 2005. U.S. imports from are up 382% from 2000 (pre-WTO accession).

https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china

 

http://www.worldsrichestcountries.com/top_us_imports.html

 

[Grubster]

26 minutes ago, spidermike007 said:

This new relationship is going to be a fascinating one. Someone does need to stand up to China. Obama barely resisted their show of force in the SCS. I think their ambitions are heinous. As far as trade goes, China has the advantage. Many do not know that you cannot export anything over $100 in value to China, unless it is going to a state controlled company, or a company that has jumped over incredible hoops. An individual has no right to purchase anything online, and have it sent to them. Which means the average small business person cannot do business with Chinese customers. The very definition of a closed economy. The economy there is so tightly controlled, it is nowhere near a level playing field. So, I am ok with someone getting tough with the Chicoms. But, where will it lead? One thing I do not think Trump understands, is that this is a very different economy, and the US is a very different country than it was 30 years ago. The US has alot less influence, and trade is more evenly distributed. China used to export something like 55% of it's good to the US. That number is down to about 22% these days. China needs to be careful. The US represents a half trillion dollars of exported goods. But, Trump needs to be careful too. We export $161 billion, as of 2015 to China. And if those imported goods were jeopardized alot of American companies would be hurting, and alot of jobs would be lost. This is not a simply problem, and it requires a rather complex strategy. 

 

U.S.-China Trade Facts

U.S. goods and services trade with China totaled an estimated $659.4 billion in 2015. Exports were $161.6 billion; imports were $497.8 billion. The U.S. goods and services trade deficit with China was $336.2 billion in 2015.

China is currently our largest goods trading partner with $598 billion in total (two way) goods trade during 2015. Goods exports totaled $116 billion; goods imports totaled $482 billion. The U.S. goods trade deficit with China was $366 billion in 2015.

Trade in services with China (exports and imports) totaled an estimated $61.3 billion in 2015. Services exports were $45.4 billion; services imports were $15.9 billion. The U.S. services trade surplus with China was $29.5 billion in 2015.

According to the Department of Commerce, U.S. exports of goods and services to China supported an estimated 251 thousand jobs in 2014 (latest data available) (678 thousand supported by goods exports and 273 thousand supported by services exports).

• China was the United States' 3rd largest goods export market in 2015.
   
• U.S. goods exports to China in 2015 were $116 billion, down 6.1% ($7.5 billion) from 2014 but up 182% from 2005. U.S. exports to China are up 506% from 2001 (pre-WTO accession). U.S. exports to China account for 7.7% of overall U.S. exports in 2015.
   
• China was the United States' largest supplier of goods imports in 2015.
   
• U.S. goods imports from China totaled $482 billion in 2015, up 3.2% ($15 billion) from 2014, and up 98% from 2005. U.S. imports from are up 382% from 2000 (pre-WTO accession).

https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china

 

http://www.worldsrichestcountries.com/top_us_imports.html

 

One fact you may have missed here is that most US exports to China are raw materials with few US jobs attached to them. I also suspect that US services to China is primarily shipping, also providing very few US jobs.

[IAMHERE]

Xi is fighting for his political life within the Chinese communist party. If their  economy is disrupted any further than it is already his end time is near.

Edited January 19, 2017 by IAMHERE