VOA: US Doesn’t Want a Trade ‘Divorce’ From China; MT: US Goods and Services Trade Deficit Hovers Near Record Level


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COGwriter

Voice of America reported the following:

US Doesn’t Want a Trade ‘Divorce’ From China

April 7, 2022

The United States is trying to be strategic about how it “realigns” its trade relationship with China, but is not interested in a large-scale “decoupling” or a trade “divorce,” U.S. Trade Representative Katherine Tai said in an interview this week. …

Tai said the United States may need to use “other tools” in order to adjust its relationship with China.

Pressed on what those other tools might look like, she said, “I think that it’s less about what more we can do to China. I think it is more about how we can shape the U.S.-China trade relationship and again, to realign it to create incentives for our economic actors to ensure that this relationship is one that feels balanced, that is fair, and also, importantly, that is contributing to a sense of security and resilience for not just our economies, but for the global economy.”

Recognizing reality

Tai’s explicit ruling out of a trade divorce between the U.S. and China may reflect the simple reality on the ground in the Indo-Pacific region, said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics.

“All these countries have more trade with China than they have with the U.S.,” he told VOA. “And further, the trade with China is growing faster than with the U.S. So, they don’t have any real commercial interest in any kind of decoupling or divorce.”

Leaders in the region have repeatedly expressed concern about being put in a position in which they are forced to choose between partnering with the U.S. and partnering with China. Their concern has been sharpened by rhetoric coming from U.S. lawmakers, some of whom have pressed for trade arrangements that isolate China.

“That notion faded in her rhetoric,” Hufbauer said, placing Tai and the Biden administration closer to what he called the “realist camp.” https://www.voanews.com/a/us-doesn-t-want-a-trade-divorce-from-china/6518701.html

The reality is that the USA does not have the economic power to stop China, plus is highly dependent upon imports from China.

Consider also the following as reported by MishTalk:

US Goods and Services Trade Deficit Hovers Near Record Level

The goods and services trade deficit is just above a record while the 3-month moving average did hit a new record in February.

Trade Deficit Summary

  • The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced  the Goods and Services Trade Deficit.
  • In January, the deficit hit a record $89.23 billion. For February, the deficit stands at $89.19 Billion.
  • The three-month average deficit is a record $86.79.  …
  • China: The deficit with China increased $7.9 billion to $41.2 billion in February. Exports increased $0.2 billion to $13.0 billion and imports increased $8.1 billion to $54.2 billion. …

The US is stuck with it, albeit in a now diminishing role thanks to de-globalization. 04/05/22 https://mishtalk.com/economics/the-us-goods-and-services-trade-deficit-hovers-near-record-level

Continually running trade deficits is not good for the USA dollar.

Trade deficits are a type of debt that will one day have unintended consequences for the USA

Notice a prophecy God inspired the prophet Habakkuk to write:

2 Then the Lord answered me and said:

“Write the vision
And make it plain on tablets,
That he may run who reads it.
3 For the vision is yet for an appointed time;
But at the end it will speak, and it will not lie.
Though it tarries, wait for it;
Because it will surely come,
It will not tarry. (Habakkuk 2:2-3)

6 “Will not all these take up a proverb against him,
And a taunting riddle against him, and say,
‘Woe to him who increases
What is not his — how long?
And to him who loads himself with many pledges’?
7 Will not your creditors rise up suddenly?
Will they not awaken who oppress you?
And you will become their booty.
8 Because you have plundered many nations,
All the remnant of the people shall plunder you,
Because of men’s blood
And the violence of the land and the city,
And of all who dwell in it. (Habakkuk 2:6-8).

The above is a prophecy for the appointed time of the end–essentially the time of the Great Tribulation (Matthew 24:21). The USA has been accumulating pledges in the form of US Treasury bonds and notes, and is the most indebted nation of all time. On a per capita basis, the UK is also one of the most indebted nations of all time.

Notice that the prophecy in Habakkuk says this is so bad, that people should run who read it. That is, they should seriously consider what this means and take the appropriate steps.

The Bible shows that foreign creditors will rise up.

Running massive trade deficits is a lot of what creates foreign creditors.

Because US and British-descended leaders ignore, and even despise, instructions and warnings from the word of God, destruction will come to them. Notice something God inspired the prophet Isaiah to record:

12 Therefore thus says the Holy One of Israel:

“Because you despise this word,
And trust in oppression and perversity,
And rely on them,
13 Therefore this iniquity shall be to you
Like a breach ready to fall,
A bulge in a high wall,
Whose breaking comes suddenly, in an instant.
14 And He shall break it like the breaking of the potter’s vessel,
Which is broken in pieces;
He shall not spare.
So there shall not be found among its fragments
A shard to take fire from the hearth,
Or to take water from the cistern.” (Isaiah 30:12-14)

Most of the leaders in the USA, UK, Canada, Australia, and New Zealand despise the word of God, trust in perversion, and think nothing of oppressive debt levels.

The USA and UK have been seriously increasing debt levels.

Notice also the following prophecy:

43 “The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail.

45 “Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed, because you did not obey the voice of the Lord your God, to keep His commandments and His statutes which He commanded you. 46 And they shall be upon you for a sign and a wonder, and on your descendants forever.

47 “Because you did not serve the Lord your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the Lord will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The Lord will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you.  (Deuteronomy 28:43-51)

Trade policies will not end up well for the USA and its British-descended allies.

Yes, destruction will come.

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