techkenyot.com
techkenyot.com April 18, 2019


China 'theft' of US jobs and wealth must 'come to an end'

06 February 2019, 06:07 | Hattie Nash

China 'theft' of US jobs and wealth must 'come to an end'

China 'theft' of US jobs and wealth must 'come to an end'

A United Nations expert has warned that a USA plan to raise tariffs on Chinese goods next month would have "massive" implications for the global economy unless it is resolved.

U.S. President Donald Trump said in his State of the Union address on Tuesday that any new trade deal with China "must include real, structural change to end unfair trade practices, reduce our chronic trade deficit and protect American jobs".

Last year, the USA levied tariffs of between 10% and 25% on $250bn worth of Chinese goods.

Of the more than $300 billion of China-US trade that has been hit with new tariffs since July, about $250 billion is likely to shift to other economies, the United Nations estimates. This will be reflected in import and export patterns around the globe.

The report said Asian countries are likely to suffer most from protectionism.

LA Clippers trade Tobias Harris to loaded Sixers
The 6-foot-9, 235-pound Harris can score from nearly anywhere - he's a threat from 3, from mid-range and driving to the basket. Coach Brett Brown refused to commit before Tuesday's win over Toronto that Fultz would be part of the playoff rotation.

"The implications are going to be massive", Pamela Coke-Hamilton, Unctad's head of global trade, said at a news conference.

The trade war will also have a number of negative effects on global trade, especially within certain markets, the UNCTAD said.

Smaller and poorer countries would struggle to cope with the external shocks, she said. But it warns the effects could be felt everywhere. "We are now making it clear to China that after years of targeting our industries and stealing our intellectual properties, the theft of American jobs and wealth has come to an end", he said.

"Our analysis shows that while bilateral tariffs are not very effective in protecting domestic firms, they are very valid instruments to limit trade from the targeted country", Ms. Coke-Hamilton said.

The report also said USA and Chinese firms won't benefit greatly from the protectionist policies. IMF Cuts Global Economic Growth Projections over US-China Trade War.

Grizzlies initiated trade talks with Raptors involving Lowry, Valanciunas
According to Wojnarowski, that was the first time Memphis was preparing to weigh deals involving the team's cornerstone player. Edwards speculates the Pistons will have to offer Jackson, Jon Leuer and Luke Kennard to the Grizzlies to get Mike Conley .

As the March 1 deadline looms for Beijing and Washington to reach a trade accord to stave off further tariffs in their months-long trade war, the USA will send its chief trade negotiator Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing early next week.

"Countries that are expected to benefit the most from US-China tensions are those which are more competitive and have the economic capacity to replace US and Chinese firms", the UNCTAD said. Japan and Canada, meanwhile, will see exports increase by more than $20 billion each.

The study estimates that of the $250 billion in Chinese exports subject to United States tariffs, about 82% will be captured by firms in other countries, about 12% will be retained by Chinese firms, and only about 6% will be captured by USA firms.

The study also underlines the "common concern" that trade disputes have an unavoidable impact on the "still fragile" global economy, particularly on developing, commodity-rich countries that are dependent on exports. This is especially worrying if trade tensions spiral into currency wars, which would threaten the ability of people and companies around the world to pay off dollar-denominated debt, they said.

Trump Spends Majority of Time in Unstructured 'Executive Time'
Trump's mornings, with his first meetings of the day often occurring at 11 a.m., according to Axios . You just kiss some babies and call it a day. "Executive time" consumed many of Mr.



Other News

Trending Now

Duron Harmon becomes first Patriot to skip White House
He was then asked if he would like to meet Obama instead, to which he replied: "That would be dope". Duron Harmon of the New England Patriots speaks to the media on January 31, 2019 in Atlanta.

Fowler blows big lead, recovers to win WM Phoenix Open
Moments later on 17, Grace found water. "It sucks, but it's just kind of put that behind me". Sure enough, Fowler bogeyed the next hole, and just like that his five-stroke lead was gone.

UK Labour Leader Praises Ocasio-Cortez After Phone Call
Dan Crenshaw (R-TX) following the latter's jab at Ocasio-Cortez's proposed 70 percent marginal tax rate on the super-wealthy. Alexandria Ocasio-Cortez's guest for the State of the Union address is an activist who cornered then-Sen.

Google Releases Password Checkup for Chrome
Google has released a new Chrome extension that will help you protect your accounts from third-party data breaches . Google also says the extension was created to be actionable and not too much of a pest to users.

24-Year-Old Man Dies After His Vape Exploded in His Face
His grandmother, Alice Brown, said he had just purchased the device and was using it for the first time in her auto . The grandmother of William Brown, 24, told WFAA he borrowed her auto to run errands and stopped to buy a vape pen.

Emiliano Sala search: Body seen in plane wreckage
Mearns said his discovery of two seat cushions on the French coast last week revealed that the plane had broken up. Sala was travelling to Wales to join Cardiff City, after signing a $29 million deal with his new club.

Ariana Grande Pulls Out of Grammys 2019 | 2019 Grammys, Ariana Grande
The source added that such stipulations were not imposed on other performers at the show. Variety reports Ariana Grande will not be attending the Grammys .

Wizards’ John Wall out 12 months after rupturing left Achilles tendon
He appeared in 32 games this year, averaging 20.7 points and 8.7 assists, before going down with a heel injury in late December. Wall has had three knee surgeries with his first dating back to September 2002 when he missed the first 33 games of the season.

Measles cases flood Manila hospital; 7 recent deaths reported
But physicians and researchers have known for decades now that the MMR (measles, mumps and rubella) vaccine is safe and effective. In Europe, in the fast half of 2018, there were more than 41.000 cases, which is a very high record for a post-vaccine era.

She Thought a Ghost Was Stealing Her Clothes. Not Quite
The college student didn't know what to expect, but said she and her roommates thought it could have been a ghost , WGHP reported. Glenn said the student called her boyfriend to the apartment and asked the man to leave, adding the man was non-confrontational.