The US China trade deal

[Mik]

https://www.msn.com/en-us/money/markets/the-real-breakthrough-in-u-s-china-trade-talks-is-much-bigger-than-just-tariffs/ar-AA1EPOr5

[taiwan_girl]

Not sure I agree with the article 100%.

A coupel of things;

Right now, it is in the US basis have the USD as the "global currency". I dont know economics that well, but if the world shifts away from the USD, maybe there is not as much incentive to buy US debt. Which means the US need to balance the budget/reduce the debt, which neither side wants to do.

Number two, I am not sure it is such a bad thing to have a trade deficit. In the near (and maybe long) future, we will never have equal trade with a country like Bangledesh. THey are just not rich enough. Lots of Bangledesh's in the world right now.

[Mik]

We need to sell a lot more expensive stuff to make up for all the cheap stuff we buy.

[taiwan_girl]

Which I dont have a problem with that. I know I am preach to the choir, but increasing tariffs on a country like Bangladesh because we want to bring sock manufacturing back to the US is a pipe dream.

[Mik]

Good luck getting us to make socks or sew shirts.

[AndyD]

It's a 10% each deal for China&USA isn't it?

So your Chinese sourced stuff will all be available but now cost you all about 10% more in the shops;
and your Government will make 10% of $462billion.

Right?