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Asia Unhedged — China represents ‘unprecedented’ threat to world trading system, says US trade czar

Summary:
US declares economic war on China. “The sheer scale of their coordinated efforts to develop their economy, to subsidize, to create national champions, to force technology transfer, and to distort markets in China and throughout the world is a threat to the world trading system that is unprecedented,” Lighthizer said. “We must find other ways to defend our companies, workers, farmers, and indeed our economic system,” he implored. “We must find new ways to ensure that a market-based economy prevails.” Asia TimesChina represents ‘unprecedented’ threat to world trading system, says US trade czar Asia Unhedged

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US declares economic war on China.
“The sheer scale of their coordinated efforts to develop their economy, to subsidize, to create national champions, to force technology transfer, and to distort markets in China and throughout the world is a threat to the world trading system that is unprecedented,” Lighthizer said.
“We must find other ways to defend our companies, workers, farmers, and indeed our economic system,” he implored. “We must find new ways to ensure that a market-based economy prevails.”
Asia Times
China represents ‘unprecedented’ threat to world trading system, says US trade czar
Asia Unhedged

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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