(National Sentinel) Winning: As the usual suspects pick apart the high-profile meeting between POTUS Donald Trump and Chinese President Xi Jinping at the G-20 summit in Buenos Aries on Saturday, there were definitely some positive things — for both countries — that came out of it.
Already Western pundits and commentators are downplaying what was discussed and, more importantly, what was agreed upon as little more than a reprieve: In exchange for POTUS holding off imposing 25-percent tariffs on $200 billion worth of Chinese goods come January 1, Beijing agreed to immediately begin “not yet agreed upon, but very substantial” amount of agricultural, energy, industrial, and other product from the U.S., Breitbart News reported, quoting White House spokeswoman Sarah Huckabee Sanders.
That will keep U.S.-imposed tariffs at 10 percent for 90 days.
There’s more. Both leaders agreed to begin immediate negotiations regarding structural changes involving forced technology transfers, the protection of intellectual property, non-tariff barriers, cyber theft and hacking, services, and agriculture, Sanders continued.
“Both parties agree that they will endeavor to have this transaction completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10% tariffs will be raised to 25%,” she said.
In addition, Xi has also agreed to name Fentanyl as a “Controlled Substance,” which means those selling Fentanyl to the U.S. will now be subject to China’s maximum penalty under the law, which Sanders described as a “wonderful humanitarian gesture.”
As to the critics, Zero Hedge noted, most said the agreement(s) amounted to little more than a reprieve for both leaders as markets in the U.S. and China have both taken hits in recent weeks.
Bloomberg reported, “Negotiations have long been stuck over U.S. demands for deep structural reforms such as stopping forced technology transfers, enforcing intellectual property rights and ending state subsidies for strategic industries- all of which China sees as an American strategy to thwart its rise as a global power.”
Zero Hedge also quoted Michael Every, head of Asia financial markets at Rabobank, who said overnight, “I will eat my hat if this means anything substantive” as “neither side is fully ready for the war, but neither side will budge.”
That said, all Xi got was a reprieve, because as South China Morning Post editor Chungyan Chow noted, “Xi Jinping hasn’t really defused the Trump bomb. He just bought 3 month breathing space. Interesting to see what will happen next before the Chinese national congress sessions in March.”
Xi Jinping hasn’t really defused the Trump bomb. He just bought 3 month breathing space. Interesting to see what will happen next before the Chinese national congress sessions in March. https://t.co/CN85Kp8X6K
— Chungyan Chow (@ChungyanChow) December 2, 2018
Everyone seems to forget that there are two global powers involved here, not just one and that the U.S. today cannot simply dictate terms to a rising nuclear power (China) any more than it could an established nuclear power (the Soviet Union) back in the day.
Diplomacy takes time. Xi has to keep his country’s best interests in mind the same as POTUS Trump does for the United States.
What is maddening to see, however, is the number of people willing to criticize POTUS Trump despite the fact that he is doing something no other president in the modern era has done: Directly challenge the Chinese in ways Beijing should have been challenged all along.
China steals our technology. China hacks our corporations. China requires technology transfers in order to ‘do business’ with us. China allows tons of opioids to be exported to our streets. China is attempting to wall us off from the South China Sea. And China, unlike Japan in the 1970s and 1980s, is using the income from its massive trade imbalance to challenge the United States because China is a revisionist power.
POTUS Trump didn’t get everything he wanted on Saturday, of that we can be certain. But neither did Xi.
And frankly, it’s the U.S. market Xi needs to keep his economy growing and to keep his people placated.
Our president should be praised for even challenging the Chinese, not nitpicked because diplomacy is hard.
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