WTO - China's US$1.2 trillion trade surplus is WRONG?

MUNICH: The head of the World Trade Organisation on Friday (Feb 13) urged China to change its growth model, arguing that its soaring trade surplus was ultimately unsustainable and risked sparking new trade barriers.

Beijing says it wants to support the multilateral trading system, "because it has benefited quite a bit from it", WTO chief Ngozi Okonjo-Iweala told the Munich Security Conference.

However, "the export-led growth model that drove China's growth for the past 40 years cannot drive China's growth for the next 40," said Okonjo-Iweala.

"And the US$1.2 trillion trade surplus is not sustainable. Because the rest of the world cannot absorb it," she added.

"And if China does not act, we will see more barriers."  CNA

China's trade surplus is wrong, unacceptable, unsustainable? Who said so? WTO. Who is WTO or who is behind this accusation? Why is this unacceptable? What is your problem, WTO? What amount is acceptable? I am not even asking about sustainable. That is a completely different issue. 

China is trading with the whole world under WTO rules. China did not point a gun at anyone to buy Chinese goods. China's trade with the world is on a willing buyer and willing seller basis. Why is this a problem? Because the Americans and the Europeans are unhappy? They have been chalking billions and trillions of trade surpluses over the centuries, nobody said it is unacceptable or that it is a problem. China cannot make trade surpluses fairly?

As for sustainability, the buyers of Chinese goods will buy whatever they need and whatever they can afford. They will not buy just because China is having a trade surplus. When China is producing goods that are needed, in demand, at very fair and affordable prices, these are not crimes. The trade surpluses will adjust accordingly in a free trade system, in a free capitalist economic system of demand and supply. Buying Chinese goods and services is value for money. Why pay an arm or leg of AI when you can get it for practically free?

Countries that think they are being cheated for buying Chinese products can go and buy American or European products. No one is stopping them from doing so. Or they can follow the Americans, imposed high tariffs on Chinese products, to make Chinese products more expensive for their people, don't buy, don't use Chinese products. It is as simple as that.

When China is still making profits from the world, the US$1.2 trillion is an aggregate, not from exploiting any particular country, by selling very good quality products at very low prices, at very low profit margin, China is as good as doing charity, doing public service, by offering the best products to the world at prices they can afford, improving the quality of life of the people of the world. What is the alternative, don't make and don't sell, or sell at American and European prices with exorbitant profits, like a $50,000 Birkin Bag instead of paying $3,000?

Are the people from developing countries complaining? Or are they very grateful that China is offering good products within their limited budget, to enjoy some of the finest things in life eg, mobile phones, clothings, that they would otherwise missed? Why pay for a $100k car when one can get a Chinese car of same quality or better for $10k? China can sell its good and affordable products to whoever that wants them, no need to sell to those that do not want them. Period. The majority of the people of world are benefiting and very grateful for China's goods and services. All manufacturers should compete with China to make better products and sell at competitive prices, not fleecing their consumers and users. 

Trump is right. Useless organisations like the UN, WTO, WHO etc that are doing silly things should all be closed down. They are led by mischievous leaders with vested agenda or by unthinking leaders led by mischievous people to do their bidding.

Western narratives are based on White superiority, rule the world, right to kill coloured people

Throughout history, do the Whites have conscience regarding genocides, robbing resources and stealing land at will? Those behaviors are in their DNA, passed down from generation to generation. And no one had the capacity to change the status quo, when the Anglo-Saxon Whites continue to gang up together to protect the US$ hegemony and continue with their dirty business.

When the Soviet Union started posing a threat to the behavior of the USA, it was all hands to the deck by the Anglo-Saxon Whites to destroy the Soviet Union with propaganda and demonization. The USA was then at the peak of its economic power and with the White satellites helping it, taking down the Soviet Union was a piece of cake.

Then came the Germans being too progressive and innovative, which made the USA nervous and that ends the German threat. The rise of the Japanese was the next threat facing the USA and all measures were put in place to make sure the Japanese remain docile and obedient, also helped by the Anglo-Saxon Whites to formulate economic policies that was to stifle the Japanese economic miracle in order to help the USA compete. Imagine making the Yen expensive so that Japan cannot export more to compete with the USA and the Europeans. It was to kill the Japanese dream with one fatal stroke.

China's rise was no exception and was also being targeted by the USA and the Anglo-Saxon Whites to prevent its influence from rising. But China was different and China played long games with unlimited patience. China had learnt lessons from the Soviets, German and Japanese, and quietly make sure it is prepared to be capable of withstanding any threat to its vulnerability especially in energy and food most of all. China also understands the need to upgrade its military just in case and not ended up like the Japanese.

All that preparation that China has made did not go to waste and has now repaid its thinking far ahead and has borne fruit and able to keep the USA at bay. The icing on the cake must be the Russians being pushed by the West into the orbit of China, a real geopolitical tsunami that was to cripple the West.

The result of pushing Russia towards China is not the only foot shooting that the USA has done to itself. The trade war, the technology war and tariff war were instrumental in pushing China to make serious efforts to counter and improve China's overall resilience that it would otherwise still be highly vulnerable.


Anonymous

Because we are the American terrorists. We set the rules

 As the world's number one undisputed and unchallenged terrorists, we will set the rules, decide who can live or die, who can be rich, who should be poor. We will kill whoever we want. We will take whatever land we want. The rest of the world obey or else. This is as good as what the Washington rogues are telling the whole world. Anyone dares to object? Anyone dares to condemn? 

This is the best behaviour of the world's number one terrorist state. This is the most admirable behaviour of the American terrorists, and all Americans and Europeans are proud of it. Sorry coloured folks, you have to be ruled and bullied by the American terrorists, because you cannot do anything about it. If you dare to oppose, we will call you aggressive, a threat to our Empire, we will demonise you for your bad behaviour against the Empire, we will sanction you. Our behaviour is the best, most exemplary, even when we will invade countries, abduct their leaders, no one would dare say it is unacceptable behaviour. 

Our behaviour is always the best behaviour. Others are always bad behaviour. And we have the support of all Anglophiles and pro white men countries. They want to be ruled by us, white men. We stand proudly in all occasions to condemn the bad behaviours of China and our enemies, for being weak and meek, and unable to do what we do, afraid to do what we do...because we are the American terrorists.

We are telling the Iranians to stop their nuclear programme, give us their enriched uranium, all of them, to stop supporting the Houthis, Hezbollah and Hamas, they can only have missiles with 300km range maximum or else we will bomb Iran to the Stone Age and kill all Iranians....because we are the American terrorists. 

We support Israel to bomb and flatten Gaza and genocide the Palestinians. We support Israel to take over all Palestinian land. We will build Gaza and sell it for profit....because we are the American terrorists.

We invaded Venezuela and abducted their President and First Lady to be charged in our kangaroo courts on fabricated crimes, we took over control of the Venezuelan govt and their oil....because we are the American terrorists.

We are going to annex Canada, Greenland, Mexico, Panama, Cuba, Bolivia, in fact the whole of Latin America....because we are the American terrorists.

We will not allow anyone to buy Russian oil. We will not allow China to be a bigger economic and technological power than us, we will sanction any country that disobey our orders....because we are the American terrorists.

We will keep the Cubans poor, cannot trade with the world, to starve their people....because we are the American terrorists.

Because we are the American terrorists, we will rule the world.

China losing control over Taiwan and Japan

 China keeps talking about returning to the right path to Taiwan and Japan. This has been the standard script of the Chinese Foreign Ministry and is sounding very stale and meaningless. Taiwan's anti China and pro independence stance is gaining strength. Lai Ching Te is behaving more dictatorial, more arrogant and more lawless, harassing pro unification Taiwanese, threatening them and putting them behind bars more frequently. The fear of being harassed and arrested is sending chills down pro unification Taiwanese. This is expected as China is appearing to be a lame duck, unable to do a thing to change the situation, unable to protect the pro unification Taiwanese. They are hapless against a reckless dictator in Lai, and have no one to turn to.

On the other hand, Lai is acting more aggressively and brazenly as if he is the law, he is above the law, making moves that make China look ridiculous. Everyday Lai is crowing after his American father and Japanese mother supporting him in his actions. He is acting as if Taiwan is now owned by the Americans, taking orders from the Americans and transferring Taiwan's reserves, assets and technology, TSMC, happily to America. He and his pro independence gang are making trips to Japan openly to make plans in defiance of China. And yes, China can only watch and repeat its stale comments about returning to the right path. 

The pro unification Taiwanese are starting to lose faith in China protecting them. When China cannot protect its citizens in Taiwan, officially Taiwan is part of China, it means Taiwan is not part of China. Period. It is gone, now a colony of America. And America has been emboldened by selling more arms to Taiwan, even planning to place ATACMs in islands a few kilometers from Chinese coast, and with a range of 300km, meaning it can hit many Chinese coastal cities. What can China do, nothing, yes nothing. Taiwan is as good as gone.

As for Japan, the Japanese are solidly behind the mamasan, giving her an astounding victory for her strong stand against China and remilitarisation of Japan. The biggest nuclear plant has been reactivated to harvest more uranium for more nuclear weapons. Yes, what can China do about it? What is China doing about it? As usual, nothing. More Japanese weapons and units would be deployed in islands nearer Taiwan to protect and defend Taiwan. Soon, more Chinese fishing boats would be arrested and tow to Japan and China will again have to beg for their return, like the former China begging the Imperial Japan. Oops, it already started. Japan arrested a Chinese fishing boat on 12 Feb. Japan acts and do. China talks and talks and talks, but do nothing. This is like showing a middle finger to China, the first thing she did after her election. Japan does not have to think or hesitate when arresting Chinese fishing boast. They want war with China, and drag the Americans in. And they know China is afraid of war with the Americans. Would the Pinoys also start to arrest Chinese fishing boats?

Japanese militarism is on the rise. The Japanese morale is high and unwavering, knowing that China is afraid to offend Japan and America. Trump will keep on selling more weapons to Taiwan, sending more American troops into Taiwan to defend their colony, Taiwan. And China can only watch and do nothing about it. Japanese despise Chinese and will kick Chinese ass knowing that China is afraid to hit back.

Despite the aggressive and anti China behaviours of Trump, China is laying out red carpets meekly to receive him in Beijing like receiving the Emperor of the world. When Trump said he wants to visit China, China cannot say no, just like the past, when Americans and Europeans insisted on talking about fabricated human rights issues, about China's father and mother, China did not know how to say no, afraid to say no. What do you think Trump and the mamasan are thinking about China?

India's fatal connection for America blossoming

The Indians are unhappy that Trump seems afraid of China and is bullying India instead. How so, when Trump started trade wars, technology wars and tariff wars all declared against China per se, but not against India, the long-time friend for hugging until lately.

Of course, bullying India is on the cards as India is still buying Russian oil. India is a good friend of USA, so it can just wait for the fatality of that friendship to blossom. Even the Europeans are now not taking the friendship with the USA lightly, knowing the fatal connection is unravelling. That is why they are betting on China, for the moment as a pressure releasing valve.

Trump took over Venezuelan oil hoping to cripple China, with China buying Venezuelan oil on the cheap. China already knew what Trump's agenda during his first term in office was, when he openly gloated that he wants to steal Venezuela's oil reserves. China had been importing Venezuela's oil with steep discounts over the years.

When Trump was making plans with posturing and attacking boats using the drug issue, China saw the writing on the wall and had already made deals to import more oil from other countries and had built up a massive stockpile in underground bunkers. When the USA offered Venezuelan oil to China, albeit at higher prices, China just cut off all imports of those stolen Venezuelan oil, which put paid to Trump's plan. Now Trump has lost the biggest market for his stolen Venezuelan oil eternally.

To remedy that, Trump is honestly bullying India, to force it to buy stolen oil from Venezuela. There is now a purported deal between Trump and Modi, gloating about a US$500 billion deal from India to buy more from the USA, presumably talking about Venezuelan oil, while putting pressure on India by saying that Modi has agreed in conjunction to ditch Russian oil. That has not been the Indian agreement, so let us wait to see who is lying.


Anonymous