A complement to the macroeconomic leadership called for here is the microeconomic leadership that a president can bring to his base.
An easy way to avoid a trade war is for Trump to PERSUADE his “base” that U.S. regional education, infrastructure advancement, workforce development, and incentivizing regional business investment is profoundly better than tariffs for addressing the needs of his base.
Many business leaders would agree that being an educator is the essence of leadership. Likewise in politics, ENABLING one's constituency is leadership, not being an addict of voter misunderstanding.
The economics are clearly on the side of no trade war. And I bet that brilliant Paul Krugman would gladly distill his fabulous "wonkish" arguments against trade wars into something that even a non-reader like Trump might understand.
Meanwhile, Trump merely "plays to his base," a politics of the vanity fair. He's a sycophant of ill-informed opinion by the hard-to-employ. That's passive simulation of leadership. Real leadership does the work of understanding how to teach one's constituents what the best interests, the better angels think.
Trump is about 'winning'. Whether it's about tariffs or immigration, the bottom line is feeding his base and controlling the news cycle. So instead of a comprehensive policy to protect against IP cyber theft, we get a 'Space Force'. Instead of a forward looking strategy, we get cuts in R&D and barriers for highly qualified foreign students and experts; and undermining competitiveness of US tech companies by disruption their supply chains. And so it goes... until?
1
The question we must ask again and again is how the Republican Party leadership can allow the incompetent completely, ignorant Trump create so much economic and diplomatic chaos around the world. The United States will pay an enormous price for the cowardice and traitorous behavior of these Republicans who have no respect for the American people whatsoever.
They must all be forced from office. Get out the vote in 2018 to save our nation from further disgrace.
2
Here is a transcript of a Trump's cabinet meeting;take the time to read it :https://www.buzzfeed.com/passantino/trump-immigration-cabinet-transcript...
"Firms are supported, but if it’s not working, they cut it out,” she said. “That’s really different from Trump’s industrial policy"
It is not the government's job to pick winner and loser company's like the communists do
China's industrial policy is to use government-led funds what comes from money earned by Chinese people, which is exactly what American economy system is automatically doing: utilizing the dominant status of US dollar and the advanced capital market America attracts money earned by people globally to US and invest them to US innovations. Chinese businessmen earned money by exporting to US, and then invest these money back to US ultimately on innovations in US. The American way is even more efficient and larger in scale. It is immensly stupid for Trump trying to cripple this perfect mechanism and roll America back to pre-WWI style trading competitions on steels, coals, and other industrial goods. He is really a person with early-20 century understanding on economy.
This is an entirely predictable situation. Republicans have proven themselves unable to govern for the last 20 years.
Their total focus (which has been remarkably successful with the plebes) has been to win elections at any cost, nurture an environment of hate and distrust with any and all institutions outside their own, and cultivate a victimhood cult with a voter base of aging white buggy whip salesman and typewriter repairers.
1
This chest thumping, bloviating buffoon inherited a growing economy and he will leave it a-shambles.
The irony of it all is that Trump country will bear the greatest burden while the coasts will continue to prosper. What are his followers thinking? Are they thinking ? Or is it just raw emotion and anger?
2
Let's just face it. These tarriffs will only hurt American innovation.
2
Surely you don't believe Trump cares about U.S. business any more than he cares about anything else...which of course....is nothing. I used to fantasize on occasion about what I'd do if I won one of the huge payout lotteries, where I'd go, what I'd do, what I'd buy, etc. Now I have just one fantasy if I win, and that is to use every last penny of it to remove Donald Trump. I mean, that's what you do with garbage isn't it? Throw it out?
4
The best thing we can all hope for is his neglect. Whatever he turns his attention to turns to mud.
3
Spending more money on academic AI research may well increase, not decrease the leadership of China. By nature, academic research is international.
From China Daily
"Premier Li Keqiang praises foreigners for help in opening-up
(China Daily) 07:27, February 06, 2018"
Ten days ahead of Chinese Lunar New Year, Li attended the annual event in the Great Hall of the People to send greetings and collect wisdom from more than 60 scholars and business leaders on achieving high-quality development, smart manufacturing and improving the quality of higher education.
John Hopcroft, a foreign member of the Chinese Academy of Sciences, shared his thoughts with the premier on improving the evaluation system of China's higher education."
From SIAM News Awards and Recognition | January 17, 2017
SIAM Fellow Honored in China
"SIAM Fellow John E. Hopcroft received China’s Friendship Award in a ceremony at the Great Hall of the People in Beijing on September 29, 2016. Hopcroft is the IBM Professor of Engineering and Applied Mathematics in Computer Science at Cornell University. The Friendship Award is the highest honor given by the People’s Republic of China to foreign experts who have made significant contributions to the country’s economic and social progress."
NO ADVICE FOR TRUMP: IMPEACHMENT
Nobody can advise this man. If we want wise policy, we must first get rid of him.
2
So the biggest liar in the world say's he's going to punish China with tariffs, then he orders his people to work to help the Chinese company ZTE.
This is some crazy form of punishment.
1
When my brother in law worked for John Deere, he coordinated a project with a Korean supplier. Its research lab was devoted to reverse-engineering everything.
1
I don't think I am being hyperbolic when I state that one of the biggest (if not the biggest) market on our little planet is going to present itself in the crossover of fossil fuel generated energy to renewable generation. Mr. Trump handed our dominant position in this mega-market over to China on a silver platter. That'll teach 'em!
1
Putting scientists out of work, on anything besides extending the life-spans of plutocrats, has been a core Republican objective since Ronald Reagan's inauguration.
2
Exactly. This reportage is important and overdue, and there is much more to say. Stopping the theft and extortion of knowledge and technology is critical, but presuming to tell China how and where it can invest for its future is mind-boggling arrogance and hypocrisy, and nothing more than crude imperialism. Like tellng the Hondurans to keep growing those bananas and we will take care of the rest. Stay poor so we can stay rich. Americans need to understand that they have an ambitious and determined competitor with a serious policy for development and every right to pursue it. In the guise of pandering to workers, Trump is actually serving the libertarian plutocrats who do not believe in public investment. We need to be scared, very scared, and the Times should call for the ouster of people like Navarro and Ross, and the recruitment of people like Hsieh.
1
Generally speaking, trade secrets are more enduring than patents, but competent science works the same no matter who does it.
Perception "trumps" reality. People don't scream at rallies and give you Trump loyalty pledges (remember those?) when you say, "we're going to create jobs through government investment in rising high-tech industries like solar energy and electric vehicles, coupled with greater access to higher education so we can have more skilled jobs like doctors and engineers, while working with our allies around the world to jointly leverage China to stop currency devaluation and follow common labor and IP standards."
People will scream at rallies and give you Trump loyalty pledges if you promise you'll stick it to the dirty foreigners who have been stealing your job.
1
Nihilists want nothing more than to see the whole world burn down.
2
Trump gave American businesses a ginormous windfall tax cut within the past year.That is anything but neglect.
1
What are we supposed to invest in for dividends after they take themselves private?
1
45 is moving the country in reverse by supporting dying industries while the world moves forward & passes us by. His misplaced priorities are; shrinking government & transferring wealth to the wealthy.
Have a nice day.
1
Trump is the most miserable excuse for a CEO I have ever seen. The man can't think ahead further than 5 minutes.
1
I agree with almost everything in this article. Giving a pass to ZTE was a major mistake. What made America great in the first place was the great boost given by the government to private industries capable of solving major problems and producing very advanced technologies. China will destroy us without blinking an eye in the next decade or so if we don't get our act together.
I do also agree that China has no qualms stealing our intellectual property and using it to their advantage. It is a way of life for them. I heard that from the kids of some of the wealthiest Taiwanese and Chinese businessmen. Yeah we took your inventions and we make them better. That is stealing! We needed a guy like Trump to raffle everybody's feathers. He had the chance to fix things, his bad temperament, lack of discipline, big foul mouth and insults are not helping anyone in the US. We can't afford to let ourselves down to a point of no return and be expected to be the policeman and be the good Samaritan of the world. Those days are gone with our own lax and shortsighted policies. We cannot survive on slogans. I voted for neither Hillary Clinton nor Trump, I found both of them unacceptable. The only thing that will save us now will be somebody like Trump with a temperate character and moral fiber.
New York City's subways, just a few miles from Bell Labs where the transistor was invented, still runs on a 1930s signaling system, so we can bomb anyplace on Earth at will.
1
The article talks about “attracting more high-caliber foreign students to American graduate programs”, which a code word for more OPT and H1B visa holders to displace older American techies. How about fostering home grown talent? Graduate schools are already filled with Chinese nationals, who the go on to get employed and trained in the very industries that the US is trying to lead.
Unlike the Obama administration president Trump does not pick industrial winners and losers. What he has done instead is facilitate inovation by eliminating useless, burdensome regulations that arrogant, ignorant career bureaucrats have compiled over decades and free America’s true visionaries from their shackles. No bureaucrat has ever innovated anything and to assume that they are capable of even recognizing an emerging technology let alone facilitating its development is laughable. The Obama embrace of Solyndra and its subsequent corrupt squandering of over $535 million is a classic example.
The article obviously endorses such corrupt arrogance by endorsing China’s practice of providing “support to companies that demonstrate a winning strategy for growth”. The obvious question that is left unanswered is if the practice is so prescient then why is the documented theft and forced transfer of American technology is so pervasive and NECESSARY to sustain its growth.
Politicians, regardless of their nationality they crave power and influence. With limited exception their primary concern is not improving the lot of their constituents but ensuring their own enrichment. Politicians in China are no different than the corrupt politicians that have been elected here. President Trump has demonstrated an abilitity build things. Those that oppose him should be forced to document theirs.
Most technical jobs are created by the need to meet tighter regulations.
1
In Response to
joelibacsi
New York NY8h ago
"Taking A.I. as a key example: We should be applauding China's efforts to become the world leader in A.I."
China is using A.I. to survey 24/7 its population and to find dissidents. It's A.I. of face recognition is leading the world.
Should we applaud ?
Big business wanted him, now they got him.
Read your Greek: be careful what you wish for
Big Business made big bucks with Obama. Now let's see how they do with DJT; if history is prologue it's not going to be good. Ask Atlantic City or any one of the people that have dealt with him in the past.
4
China is not doing anything that the US did not do in the past and, indeed, continues to do now. This article misses the point that the US' biggest example of "industrial policy" is its continuing funding of a bloated and unnecessary military-industrial complex. For my money, I think it is absolutely essential that China emerge victorious in this conflict. The US has proven, time and again, that it cannot be trusted with the power that it has to dominate the world. Trump is the latest and most egregious example of this. None of us are safe so long as the US is the world' dominant power. We need a better balance of power and China is best-positioned to provide that balance. To date, China has proven itself far less aggressive, disruptive and destructive than the US. Beyond this, the idea that the US has the gall to dictate to another country how it should organize its own domestic economic priorities is maddening. Industrial policy is something all states need to do and the Chinese should not be attacked for following smart policy. This article, essentially, is advocating that the US follow China's lead. Of course, to do so would mean government spending and involvement in the economy, something that goes against conservative philosophy, but that philosophy has always proven remarkably malleable, so long as the government doesn't regulate for the public good or help the poorest and most desperate.
3
Trump is missing the forrest through the trees. Xi has successfully played Trump with false admiration and granting Ivanka 7 Trademarks in China. And Trump has fallen for it.
As long as Trump and his family continue to realize personal financial benefits and supporting our outmoded industries, to the detriment of protecting America's future, we will overtaken and minimized in the foreseeable feature.
We may never be able to recoup our prominence.
3
Chinese economic policy is in the hands of a few highly trained Communist Party members who have reached their positions after working their way up through the finance and banking and production sectors across the country; add to these degrees from leading American universities some with having held themselves teaching positions.
Washington financial administrators typically flow from the banking and financial sectors with business and MBA degrees and lacking business experience or insight. The notion of creating support and development across the economy for oncoming technology ‘an alien socialist concept.’ Guess which country will prosper over time? Need another Government Works Project to carry the bill as in the thirties – not too likely.
3
The Chinese Mandarin system is the world's most enduring meritocracy.
China's doing everything it possibly can to bootstrap its industrial sector? Gasp and swoon. Many believe that, "if you're not cheating, you're not trying."
Another think: technology transfer from research institutions has been a proven driver of industrial growth. Industy has offloaded research to the public sector and academia over several decades. Non-private research necessarily depends on ... (yep) public funding.
Maybe we just need to get better at convincing the administration that funding science actually _is_ in its political interest?
4
John,
Convince the administration that science is in its best interests? Surely you jest!
I, for one, have no idea how this group became so anti science. Yes, removing regulations and ignoring science benefits some industries and their investors in the short term. But over the long haul, denying science, both in funding and action, has become a hallmark for which there is no apparent explanation.
Western civilization and global growth has been largely driven by scientific and technological innovations over the past three centuries. Concluding that it’s irrelevant is just an example of a small group of self interested manipulators kowtowing to a single self interested and ignorant individual. Until he’s gone, unless science serves his self interest, it will never be seen as serving the country’s best interests.
1
So, you agree with me about the importance of science funding, but you suggest we focus solely on regime change for the next two years rather than trying to immediately secure more science funding?
There's no room for "faith" in science. That's why they choke on it.
The American Empire is ending - unfortunately exacerbated by Trump and his minions. When the US dollar is no longer the international currency, America is finished. For all his faults Obama skillfully orchestrated international policy.
The current occupant of the White House is hastening the end of America's dominance in the world. I have no doubt that once America is no longer the epicenter militarily, economically, in every way that other nations will, indeed, remember the havoc, pain and suffering inflicted on so many people and so many nations in the name of American 'exceptionalism'.
In my college essays 50 years ago, I characterized myself as an "optimistic cynic". Today, I call myself an economic determinist and encourage bright young people to leave the US, no longer the land of opportunity, and head to northern Europe.
Sad.
5
Some are, that is not new, but Europe has its own problems, fracturing within the EU over economic policy and massive immigration disputes. But it is never the less more stable and experienced in public policy areas and the difference looking for solutions to forces of Globalization; and better relations with China and India -- the future.
What did anyone really expect, putting this character in the White House? He's proved to the world he is unfit to run this country. He's also shown that the gop is also unfit. The only thing he is capable of is running his mouth.
4
The tariffs and other disjointed economic policies from this man show that the problem with Trump are not small hands but a very small brain .
3
We can see how Mr Trump managed to create so many failed businesses. He is short sighted, very self centered, ready to switch tactics at a moments notice, has no strategic vision beyond some self aggrandizement or immediate personal profit. The next generation job creators are his enemies in this model. Just like how he hates amazon, a job creating machine that it is, and how he doesn’t care if apple or Microsoft go down the drain because of his alienation of Chinese consumers. Coal is his support and who cares what happens after 8 years. Spend a trillion now to juice up the economy so the Republicans do well in the mid terms. Create a climate of fear on immigration so his base fires up. Too bad for the 55% that see it for what it is.
3
It’s a clear example of Trump’s incompetence and lack of international trade knowledge.....unlike his real estate pay and play business, the multi trillion dollars trade is very complex issue. I believe it’s beyond Trump’s intellect. For republicans to mess around with such trade issues to gain majority in upcoming November election, is a dangerous game for our national security and long term economy
1
This man is too lacking in the understanding of trade and international economics to grasp the consequences and long term outcome of his off the top of his head decisions. He is slowly running intelligent advisors out of the white house which leaves him to his own"brilliant" intelligence.
2
Given that the Dow is in negative territory for the year, I would say this article is accurate.
Trump reminds me of every bad boss I have ever had. They think they know everything but in reality understand nothing.
5
Funny that Trump loved using immigrant work focus to build his business, now he wants to shut down the flow of workers
1
We have no governmental process anymore. We just have a series of malignant and ignorant decisions made with the sole motivation of garnering publicity and power.
The party of careful government, supposedly, was the GOP. I hope everyone with any sense recognizes that there is no Republican party anymore. There is an infected, diseased cult of individuals whose slogan is, as Melanie's jacket so honestly (though unintentionally) stated, "I really don't care. Do U?"
4
Bull-headed Trump stumbling around in the China Shop, in his usual role as the bull in the china shop, is now forcing disastrous events upon his poorly informed voting groups by the breaking of the family china dinnerware.
Good.
It couldn't happen to a more deserving, uninformed, and ignorant group of thoughtless voters.
May they learn a lesson as they watch the crumbling taking place on their Table Top.
Pass the salt and sprinkle it on their wounds in the upcoming elections.
Wiser heads and better informed persons must prevail.
Government research and government funding has given us many advancements - computers being the most obvious example of technological advancement and useful contribution.
The aircraft industry would be another well-known example and there are many others as well.
Trump is a lug, a loser, and a Luddite.
Hotels and golf courses just don't cut it.
2
“How China’s Economic Aggression Threatens the Technologies and Intellectual Property of the United States and the World,” the title page now leaves 34 pages. This all encompassing ambitious report on China's economic threat to the world is less than 34 pages? I think this is like a college term paper done badly in haste (with a few beers on the side) and I am trying to be polite.
2
Economy is about allocating resources wisely. Did Japan's technology advance in 1970s - 1980s weaken American competitivesness? No. American technology supriority even expanded, because as Japan catched up with US on auto, machinery and household appliances, US was able to focus her resources on computer industry. Apple, Intel and Microsoft appeared after Toshiba, Panasonic, Toyata grew up, and Google, Amazon, SpaceX, Tesla grew up thrived in the age of made-in-China.
As technology develops, industry requied more and more complex supply chain and co-works globally. At steam industry era, a ten-million population country like Britian or Germany can support a full coverage of all industries. After WWII, we see only America with handred-million scale population have complete industries. Now in information technology era, China's billion-population became the manufacturing base and we can be assured that as technology grows, even China or India's population cannot hold a complete one and no country can be advance in every field. Finally all countries depend some fields on others and every country has some leading sectors.
1
China has an industrial policy in a command economy. It's called socialism. When you join the modern world late, after centuries of isolation, bringing along the largest population of in history, a little central planning may be necessary to gain enough economic muscle to keep more advanced and powerful nations at bay.
Progressive economists have called for a coherent US industrial policy since the 1970's to boost American competitiveness in the global market. But Republicans prefer rigged markets and massive subsidies to key US sectors (agribiz, oil production, big pharma, banking, defense contractors, etc.). The closest Republicans get to industrial policy is privatizing profits and nationalizing losses.
China has a better idea, one that suits their circumstances, challenges and history: use China's high savings rate and trade revenue to invest in key future technology and innovation. China is 6,000 years old by some records so it's no surprise the Chinese think in the very long term, whereas American CEOs see no further than the next quarterly report.
It's probably how President Mulligan plays golf. When he's getting thrashed by other duffers, he demands they only use their 7-iron so he's not humiliated.
Trump wants the Chinese to go back to their abacuses so they don't build a quantum computer before we do.
Trump's message: slow down because we can't keep up as we're too busy being great again.
13
The primary thing anyone must understand about Trump: he is not and has never been a real fan of the US. Like any egoist, he's thinking of himself at all times.
This obviously satisfies the Republicans. But please listen: it is not going to build a society that our descendants can appreciate (or perhaps even survive in).
The GOP does not like government, and cannot understand what it's really for. Do not listen to them: we need a good government. Regulations are part of good government. Those yellow stripes in the road are there to help keep you healthy (metaphor alert)!
10
I agree Republicans do not like "big" government yet THEY and their constituents are always ready to accept all government handouts aka subsidies (see every republican Ag heavy state) and to accept OUR tax dollars (see every Blue state) since WE are paying for most of the government funds supporting Deep South red states.
Oh yea, one more multi-Trillion dollar giveaway, the recent phony republican tax cut which IS essentially corporate "welfare" and more money to the wealthiest 1%.
When all the phony republican promises come crashing down and the deficit blows up think any of these republican CONs are going to take ownership. NOT a chance.
NO way. Like trump is now they will LIE and say "it was all democrats fault", "Hillary and Obama did it", and "don't forget Benghazi and emails."
Bush came into office with Clinton's surplus and left Obama an economic disaster that democrats and Obama turned around. Clueless Trump still believes he's the sole reason that the US economy is humming along... for now. Just like the rooster who believes the sun rises thanks to his crowing.
Trump's an unreality show. Tweet. Tweet. But WE are in a horror show... until we rid US of republican control.
1
They’re doing more than we are to develop their technology sector, so we should punish them? And drag them down? Whatever happened to the idea that we can do better than they’re doing if we just focus on the goal? We didn’t get to the Moon because we sabotaged the Soviet Union. We got there because we gave priority to NASA. The current administration seems to have decided that it’s ok to lose as long as you can make the other guy lose even more. He is bankrupting the country.
17
"The future" for the Republican Party never extends beyond the next election. The mission, never extends beyond staying in power.
14
Taking A.I. as a key example: We should be applauding China's efforts to become the world leader in A.I. It is appalling that we are making efforts to stop them. I am confident that China will ignore our efforts. What we really should be doing is our own promotion of these industries of the future.
4
Exactly. We should be honing our AI (and other) skills so we're in better demand than those who migrate here—and the proper way to retaliate against "stealing" "intellectual property" is to regard the "thief"'s as public domain.
BitTorrent alone makes any form of software export control (due to cryptography or otherwise) completely moot, and that's only one way such sharing happens. If actual private conversations are involved, then that's an actual crime—but then our NSA doesn't exactly help our case.
1
As a person who speaks and reads Chinese newspapers and watching Chinese TV everyday, we do have a serious problem with China. The Chinese knows more about us and we know very little about our number one adversary-China. Trump likes to punish everybody. Punish China is not going to help us. We should put our acts together. In addition to our government officials and intelligence agency officials and university professors, we should also talk to Chinese American scholars, scientists, economists, computer experts, business executives. They may be able to provide us with suggestions in different perspectives. Chinese government regularly invite foreign visiting scholars to exchange views on different issues including trade and economic issues. Not all Chinese are spies for China and we must trust most of the Chinese Americans and Americans with knowledge about China, Talk better than fight. Trump talked to Kim Jong-Un it helped us a great deal. Peter Navarro, the trade policy advisor to Trump, may feel differently about China. He becomes well-known in American academic community because of his hate China policy. The hate alone is not going to help us.
9
Everything about Trump's approach to China is backward and destructive. As a result, the devastation will be from the ground up throughout the United States. Farmers and rural communities, already confronting a damaging cycle at the convergence of low commodity prices and rising interest rates, will feel escalating pressure and possibly face bankruptcy. Established Industries, emerging concerns and high-tech will suffer from Trump's lack of business acumen and the dearth of capable strategists in the administration. Get ready to count up the failing enterprises and bankruptcies -- apparently Trump's only area of expertise.
15
So much for the fabled business acumen...my portfolio is losing daily, the price of gas is skyrocketing. I think it's pretty clear by now that Trump hasn't the remotest idea what he's doing. His planning for the future only goes as far as his next tweet.
24
get your facts right. Your portfolio is losing because of you , not what Trump is doing.
What is the direct relationship between Trump Company profits and the domestic economy? Do things like emerging tech industries and strategic economic health have a significant impact on his immediate profits?
8
Maintaining US competitiveness is easy: invest in education, infrastructure, and healthcare.
26
And ensure a "do-no-harm" approach at home in the United States is a vital part of any envisioned change.
6
Trump is so focused on his own aggrandizement (see the Dunning-Kruger effect) he is missing the chance to make America great again with the JOBS he could create in infrastructure - highways, bridges, water and sewer systems etc.
Meanwhile, China builds high speed railroads, new airports, highways, ports, sometimes in other peoples' countries, sliding slowly into its own version of empire building.
They are also way ahead of us in wind and solar power.
Who will look great then?
32
China is also offering scientists, researchers funding and space for their labs where they can work on pure and applied research. If the US loses its best and brightest overseas, it will lose its long term technical advantage, the very thing that built America.
4
Trumps “advisors” & Cabinet officials are heavily invested in the old, dying industries. He had no young advisors trying to explain how the modern economy works. Indeed, he barely uses a computer. He has no understanding of the future at all. And his “base” is heavily invested in the past. There is nothing in his “planning” that is aimed to the future. The US, long the leader in innovation, is no longer the one to emulate, or follow. And his base will be the ones who lose in this war
43
But he does Tweet!
This has nothing to do with trade imbalances with China or improving the US economy. Tariffs are about trump taking personal control of trade. trump uses tariffs so that if you are from another country you will go throgh trump personally to trade with the US. If you are a US company you will support trump or he will use tariffs to hurt your business. If you are a US citizen and do not support trump, he will use tariffs to increase your cost of living. And ZTE is a clear statement to the world, trump is in charge of trade not Congress.
All trade with be conducted on a personal relationship with trump , there will be no formal trade policy, only a personal rerltionship with trump. putin did it in Russia and it made him $Billions while it destroyed the Russian ability to have a successful nternaitonal trade which benefited most Russians.
trump does not care anything about the US or its economy or workers, it is only about trump being personally in charge of trade.
35
You forgot that Trump gets to call all of his buddies and warn them that he is going to impose this or that tariff so everyone can call their brokers first.
31
This is one of the most insightful assessments I've read. Chilling to contemplate.
1
I don’t get it. According to the Trump administration, government support of industry such as tax breaks, public funding of research etc. is an affront to free trade and one of the primary reasons for punishing China. Yet, the US pumps billions of dollars into research and give tax breaks to specific industries all the time. Tesla and Solar City, to name just two, are big beneficiaries of government largess. While American policy makers are criticising the Chinese industrial policies, they lament that the Trump administration is not doing the same. Just as the US mandates that nobody is allowed to do business with Iran and N. Korea because they are enemies of the US, maybe they should also mandate that only the US can have a government industrial policy.
10
"With Focus on China, Trump Is Said to Neglect U.S. Business"
Is said by whom ?
Every single one cited is a member of a former Democratic administration.
Laura Tyson , chair of the economic advisors during the Clinton administration was a complete and utter failure in her effort to keep in the US and to develop the flat panel display industry in the US, that invented the flat panel display.
To quote Newsweek, 1994
"THE CLINTON ADMINISTRATION'S LATEST EXCURSION into industrial policy is its most troubling. The Pentagon proposes spending $587 million over five years to enable U.S. companies to capture 15 percent of the world market for "flat-panel displays." These are used for laptop computers, videogames ..."
http://www.newsweek.com/new-old-industrial-policy-188782
6
Trump may not have a strategy on this issue, but stopping the massive, state-sponsored and/or state-condoned IP theft by Beijing and its businessmen cronies must be done, and doing it first is the right order. There's no point sinking billions into government initiatives in things like AI if the US is going to sit idly by while our innovations are stolen -- sorry, there's no other word for it -- by state-directed China Inc.
If you haven't read the reports coming out of the USTR's office on this IP theft issue, you might want to take an hour or two to do so. It's sobering stuff. Like him or hate him, Trump is right to focus on stopping the trade and IP theft carnage by Beijing. Tariffs might not be the answer, but they sure are focusing people's attention on an issue that's critical to our future but was little discussed before Trump. One thing's for certain: doing nothing, ie, "business as usual" is definitely not the answer.
7
One other thing is also certain. Starting a trade war is also not the answer.
This guy has no answers. Only lies.
Thank goodness for the MUTE button only remote. Every time I see that face on TV, and I don't have to hear his unstudied thoughts and angry voice.
19
I did that with Bush 2...now I smash whatever media comm device is in front of me.
But Trump isn't interested in emerging industries because his base of support is or was in the legacy industries. He is not really interested in the future at all, except for quid pro quo with corrupt foreign money to expand the family fortune, of course.
How many Trump supporters do you suppose work in wind and solar energy? Or medical research labs? Or new high tech battery plants? Surely some do but they are not the angry ones who can help him sustain his anti-immigrant, anti-trade movement.
His base was built mostly in the states that are losing in the global economy and climate change, especially now that he is strangling agriculture and manufacturing with his "easy to win" trade war against the world. And his southern base is trying really hard to pretend that there is no climate change bringing ever more devastating storms, floods and droughts to their states.
You can't afford to look forward with optimism and vision when your political base is fired by anger and resentment.
36
No, Trump doesn't care about small businesses and startups. If he did, his admin would have supported Net Neutrality. Small businesses can't offer Trump anything whereas mega businesses have their lobbyists, etc. that can give him megabucks for 2020.
17
"With Focus on China, Trump Is Said to Neglect U.S. Business"
Come on Writers!
Trump has an attention span of a snail or a span of 5 minutes. Don't worry, he'll be back on target right away!
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Doubt it. It's not a matter of being "back on target." He's never been there. Lacks intelligence, applicable experience and common sense. No understanding of facts or truth or history. No desire to serve, no ability to lead. No. Can't buy your attempted reassurances.
1
The US has been counting itself out of the rest of the world since Reagan withdrew its conversion to the Metric System.
16
Agree with Ronny as Trump's eternal self-agrandizement.
That's why Trump pulled out of our war games with in Korea. He mentioned Kims's great beachfront. Could Trump want to build there?
And Russia and China have objected for years as well. And allegedly, Trump is dealing with the oligarchs, and Xi recently granted Ivanka 7 trademarks to pursue in China.
How much more could a President do with the amount of work he is doing for our country?
14
Trump's negotiations with China on trade are meant to enrich Donald J Trump and his family and no one else. How many times do we have to watch this movie to know how it ends?
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Unlike the Chinese government, ours does not believe in investing in education to position ourselves as the premier country for technological advancements. Unlike the Chinese our government does not believe in investing in research and or subsidizing emerging industries. The Republicans are far too busy giving tax breaks to their wealthy friends.
55
Those tax breaks will go to the promising emerging industries. Other writers will attack the Chinese education system.
2
Good points. I believe I read that there are more English-speaking master's level students graduating with STEM degrees in China than in the U.S. If true, it's stupid to cut investment in R&D and science and other government institutions that protect and promote America's intellectual capital.
1
President Blofeld is a dinosaur from the 50's. A James Bond villain who revels in his villainy. How else to explain his fondness for coal-fired power plants and relaxing the mileage requirements on the cars of the future. He's not about the future. He's about the past. Let's show up at the polls in November and in 2020 and send him back there.
47
Absolutely. Time to demand change. We deserve -- and can get -- so much better.
5
If Mr. Trump were an investor, he would be putting all his money in coal companies, and not in technology, risking his own wealth. As it is, he is investing the US in a failing industry, and not growth sectors, risking the wealth of our entire country.
38
What exactly IS the conservative plan to compete with China? After they’ve “owned the libs,” is Trump nation planning to take on the Chinese technological juggernaut on their own? That might not go so well. You sure don’t meet a lot of Trump supporters who know what a Kalman filter is, or how to code in TensorFlow, or what the CRISPR-CAS9 system can be used for.
Liberals and immigrants may be annoying, but can the American economy and military stay strong without us? Good luck with that.
13
BTW China's industrial policy is to use government-led funds what comes from money earned by Chinese people, which is exactly what American economy system is automatically doing: utilizing the dominant status of US dollar and the advanced capital market America attracts money earned by people globally to US and invest them to US innovations. Chinese businessmen earned money by exporting to US, and then invest these money back to US ultimately on innovations in US. The American way is even more efficient and larger in scale. It is immensly stupid for Trump trying to cripple this perfect mechanism and roll America back to pre-WWI style trading competitions on steels, coals, and other industrial goods. He is really a person with early-20 century understanding on economy.
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