The US Has “Tremendous Power”over China
Donald Trump says the United States has “tremendous power” over China because the world’s 2nd-largest economy depends on American prosperity and because of Beijing’s ownership of a staggering amount of US debt.
“They suck the blood out of us and we owe them money,” Donald Trump said Monday. “We have a lot of power,” he said.
“I call them great magicians,” he said. “But we have tremendous power over Beijing because they take so much,” he said.
Donald Trump said also he sees the US having leverage over China because its economy derives strength from manufacturing and exporting many of the goods that Americans buy everyday.
“We should get China to fix that problem. We should use our economic power. Because without us, China would be in serious trouble,” he said.
“They take tremendous amounts of dollars out of the United States. Without us, China would be in tremendous problems and we should be able to do that. But we don’t have leadership, we don’t have the people that can get them to do that,” he said.
China remained the largest foreign holder of US government debt, with $1.241-T in June, down from $1.2440-T the prior month.
Donald Trump, unlike Hillary Clinton, would keep jobs in the country and “make America rich again” by moving away from “bad trade deals,” he said this Summer in at the GOP Convention Cleveland.
“She supported NAFTA, and she supported Beijing’s entrance into the World Trade Organization (WTO) another one of her husband’s colossal mistakes and disasters,” he said.
He also promised to crack down on trade violations. Trump said he would stop China’s “outrageous theft of intellectual property,” “illegal dumping” and “devastating currency manipulation.”
Donald Trump claimed Chinese officials “are the greatest currency manipulators ever!”
He vowed to renegotiate trade deals, including with Beijing. “Our country is going to start building and making things again,” he said.
Latest posts by Paul Ebeling (see all)
- The Street’s Key Stock Analysts Research Reports - November 21, 2019
- Gold Price Outlook: Gold Set Up for a Holiday Rally - November 21, 2019
- Men Maintaining Muscle Mass in Middle-age May Lower Risk of Heart Disease - November 21, 2019