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Asia Unhedged — Freed from White House role, Bannon takes aim at China

Summary:
Bannon-backed Ray Moore defeated the  Trump-backed establishment candidate in the Alabama GOP rimary for senator. Fresh from victory, Bannon now smells blood in the water. Trump is now isolated between the GOP establishment he needs to get things done in Washington and his anti-establishment base that wants the "swamp" drained, which means the establishment of both parties. US business is bound at the hip to China as a result of Chinamerica policy. Since the GOP establishment is funded by US business, this portends to be quite a battle.  And China holds a pretty strong hand in the game, too. While both parties would be bruised, it is not clear who would emerge from a trade war stronger. And there are strategic considerations, too. Better make some more popcorn.Asia TimesFreed

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Bannon-backed Ray Moore defeated the  Trump-backed establishment candidate in the Alabama GOP rimary for senator. Fresh from victory, Bannon now smells blood in the water. Trump is now isolated between the GOP establishment he needs to get things done in Washington and his anti-establishment base that wants the "swamp" drained, which means the establishment of both parties.

US business is bound at the hip to China as a result of Chinamerica policy. Since the GOP establishment is funded by US business, this portends to be quite a battle. 

And China holds a pretty strong hand in the game, too. While both parties would be bruised, it is not clear who would emerge from a trade war stronger. And there are strategic considerations, too.

Better make some more popcorn.

Asia Times
Freed from White House role, Bannon takes aim at China

Asia Unhedged

See also

The US attack will be aimed state subsidies.

“Overcapacity is a big problem already and given the 2025 plan and the subsidies that it contemplates for a number of new industries, one of the worries that one has to have is that that may result in future overcapacity,” [US Commerce Secretary Wilbur Ross] was quoted by the FT as saying.
“For example in robotics, there apparently are something like 400 robotics companies in China right now and people in the industry tell me their estimate is that maybe 360 of those are in it to get the subsidies and tax breaks and are not really that serious about products.”
China’s robot revolution a threat to US, says Ross



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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