Trump to pursue far more aggressive trade policy with China

'Donald Trump will accuse China of engaging in "economic aggression" when he unveils his national security strategy on Monday, in a strong sign that he has become frustrated at his inability to use his bond with China's President Xi Jinping to convince Beijing to address his trade concerns.' '"The national security strategy is likely to define China as a competitor in every realm. Not just a competitor but a threat, and therefore, in the view of many in this administration, an adversary," said one person. "This is not something that they just cooked up. Mar-a-Lago interrupted the campaign rhetoric, and Xi Jinping took a little gamble and came here and embraced Trump. Trump said 'fine, do som

US tax reforms are major threat to international tax co-operation - warns Europe

"Foreign governments and global tax experts are warning the Trump administration that the proposed Republican tax overhaul could violate international rules and risks igniting a trade war." 'Combined with a proposed steep cut in the 35 per cent corporate rate and other incentives to invest in the US, Clayton Utz's Melbourne tax partner Niv Tadmore said the reforms could "pull the rug from under the feet" of international tax cooperation. ' 'Finance ministers from the United Kingdom, Germany, France, Italy and Spain wrote to White House economic adviser Gary Cohn, Treasury Secretary Steven Mnuchin and Congress leaders warning that the US tax measures "could discriminate in a manner that would

Goldman Sachs warns of highest valuations since 1900

A prolonged bull market across (Anglosphere - BB) stocks, bonds and credit has left a measure of average valuation at the highest since 1900, a condition that at some point is going to translate into pain for investors, according to Goldman Sachs Group. "It has seldom been the case that equities, bonds and credit have been similarly expensive at the same time, only in the Roaring '20s and the Golden '50s," Goldman Sachs International strategists including Christian Mueller-Glissman wrote in a note this week. "All good things must come to an end" and "there will be a bear market, eventually" they said. http://www.afr.com/markets/equity-markets/goldman-sachs-warns-stocks-are-at-their-highest-v

WTO not designed to state capitalism players like China

The USA is getting upset that China is beat it at its own game, world trade, global influence, designing a global order which suits the dominant power. But the complaint that China is competing unfairly (not on a level playing field), is a fair call. China is competing in the global rush to power, wealth and influence as a co-ordinated capitalist state, whereas in the developed world, it is the individual corporations who compete for world trade. Therefore the following article http://puzzlefinancialadvice.com.au/2017/Emergence/171211_AFR_WTO_was_not_designed_for_state_capitalism_like_China.pdf has some fair points:- The result is that as trade ministers from the WTO's 164 members gathered i

Foreign policy white paper grossly under-estimates China

'The White Paper has been praised for acknowledging that China's power and influence are growing, and that America is having doubts about how to respond. But it goes nowhere near recognising just how far these trends have already gone, and where they are heading. In fact it evades them on four key issues. First, the text is silent on the implications of a graph, presented in the White Paper itself, showing Treasury estimates that just 13 years from now China's economy will be close to double the size of America's – $42 trillion to $24 trillion. It does not comment on what these remarkable numbers mean for the shift in power between Washington and Beijing, and hence for America's future role

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