U.S trading with China created billionaires for both sides (Amazon, Walmart, etc) but also have destroyed the American middle class while the Chinese middle class grew. Chinese can buy properties & have access to America Market while it's not the same for Americans business in China.
@rambo
as a trumper, you just want to end people's freedom to pursue their own happiness. people who create value win from trade, you're not that winner and you want to stop others. you think the world should look toward trumpers for direction on what to do?
it's the best for Asean nations to diversify it's trading partners. Australia is a good example of what will happen if a countries economy rely on a single country to trade.
I am not against trading with China because it's not realistic anyway in the modern age. I am against economic intertwine.
@rambo
The problem that happened with Australia is they're just racist.
Normally Chinese ignore racism in whites. Existentially they feel alien and threatened being among so many Asians. Fine, you are racist, keep it to yourself. But in Australia it seeped into their national politics and foreign policy, and they led the Trump racist chorus against China. It's ugly, and unintelligent to confuse themselves with the United States. If trade is political for them, then it's political for China. Fair trading depends on good will and relaxed international security, Morrison wanted to hit on China geopolitically then keep business should be as usual. Why, because he frightened us? 😂
what I know is that that Australian coal, mining industry and wine industry is going to collapse after Australia got sanctioned by China. Now Australia have learn not to rely on a single market.
Same goes with the Chinese interest, I am sure China is looking for alternative trading partners about US-China trade war.
@rambo
they fought back by manipulating iron ore prices to skyrocket. everyone loses when you make it political.
of course it's everyone's right to diversify. but you don't win by ignoring the world's markets just because you have some kind of bias and want to get more than you should in business.
it's a good lessons for ASEAN members. RCEP is basically ASEAN + 5. if RCEP doesn't work out in the next 5 years. Asean can find a alternative.
@rambo
you could try to look up the 14 points China issued to Australia. ASEAN countries don't act like them, it's not comparable at all.
Couple of days ago Vietnam raised some steel tariffs on China. If they're within WTO rules, fine, China didn't say anything about it.
China unilaterally set zero tariff on more than 50 least developed countries.
Problems only come up when the 5 eye gang creates insecurity because they just can't stand that they're not controlling things.
I need to talk to other Filipinos and other Southeast Asians about this matter. I am not well informed about the RCEP. I have no awareness about the local productions and local manufacturing industry in each of the ASEAN countries. I am sure that you have noticed that most of the members here don't live in Asia.
I do know that the USA pulled out of the TPP and there is talk of the USA matching the RCEP in the future.
If RCEP isn't beneficial for ASEAN, I am sure the leaders of ASEAN will look for alternatives like I said.
By a resolution on “International trade and development”, adopted by recorded vote of 175 in favour to 2 against (Israel, United States), with 2 abstentions (Haiti, Sudan), the Assembly emphasized the urgent need to combat protectionism in all its forms and rectify any trade-distorting measures inconsistent with World Trade Organization (WTO) rules.
this is pretty decisive 🤣