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Scott Bessent > "I think it's unfortunate that the Chinese actually don't want to come and negotiate, because they are the worst offenders in the international
by bigbadfeline 2y ago
Scott Bessent > "I think it's unfortunate that the Chinese actually don't want to come and negotiate, because they are the worst offenders in the international trading system"
Why are the Chinese labeled "offenders"? What court found them guilty beyond reasonable doubt? By what law? They do what everybody else does, except their game is more beneficial, not only for them but for everyone trading with them, otherwise they wouldn't be trading with them.
"The international trading system" consists of trade agreements overseen by the WTO. The Dispute Settlement Body (DSB) at the WTO is supposed to judge in case of disagreements. No such case has been lodged at the DSB, no judgements have been issued. Using an exception clause to impose tariffs does not make anyone an offender - no rules are broken, no judgment is passed.
The really disturbing part of all this is that both parties and the media prefer to repeat the narrative of the administration while hiding the simple fact that China didn't brake any trade rules - their way of doing business haven't changed at all since the time Wall Street was raging about outsourcing to China as the best thing after sliced bread.