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While recognizing the PRC's human rights violations domestically and an aggressive projection of power in the South China Sea, one needs to be wary of a war camp and its steady drumbeat
Consider the Phase 1 trade deal. There were two components. 1/8 Thread
Consider the Phase 1 trade deal. There were two components. 1/8 Thread
There is a quantitative commitment of Chinese purchases of several categories of US goods. There were also a few dozen market-opening measures as well.
Here is the @FT overview of the agreement:
https://www.ft.com/content/a01564ba-37d5-11ea-a6d3-9a26f8c3cba4 2/8
Here is the @FT overview of the agreement:
https://www.ft.com/content/a01564ba-37d5-11ea-a6d3-9a26f8c3cba4 2/8
A fair evaluation would look at both elements and yet the war camp emphasizes how far the PRC is behind the trade targets without a word about how it has achieved most of the market-opening measures. Here is a link to @ChadBown latest bean count: https://www.piie.com/research/piie-charts/us-china-phase-one-tracker-chinas-purchases-us-goods 3/8
Another way the war-camp expresses itself is tell a one-sides story like the Asian editor of the @FT did here: https://www.ft.com/content/e76a835b-27d5-4750-9749-04921d6bf1eb, accusing PRC of weaponizing trade, without once mentioning the US weaponization of dollar funding. 4/8
This article published by the same paper a year ago, discussed how the US and China were weaponizing trade networks. https://www.ft.com/content/a8ab8cd2-c99c-11e9-af46-b09e8bfe60c0
Another balanced piece was about the US and China seeking extra-territoriality application of their laws https://www.ft.com/content/33e23a5b-3e33-4b2e-a8ee-e7b341ef3a30v 5/8
Another balanced piece was about the US and China seeking extra-territoriality application of their laws https://www.ft.com/content/33e23a5b-3e33-4b2e-a8ee-e7b341ef3a30v 5/8
Another ploy of the war-camp is to use emotive words and assume what has to yet to be proved. For example, China's reserves, the balance of payments, and known capital flows do not seem to add up. So what to call this enigma? "Stealth Intervention", of course. 6/8
It is like waving a red flag in front of the trade hawk camp as the next Treasury report on the foreign exchange market is due, as is done here: https://twitter.com/Brad_Setser/status/1309558452621115404. He does not have evidence of intervention and recognizes and large errors and omissions. 7/8
By all means let's confront China on human rights, check expansionary efforts by working with its neighbors, and do not offer it espionage platforms, but anything but fair and objective analysis fuels passions that prevent rather than facilitate strategic decision-making. 8/8
@threadreaderapp unroll please
