China's Changing Economy Helps Explain Taming of Trump's Threats
Posted: Mon Apr 10, 2017 5:17 am
Bloomberg - 4/9/2017 - U.S. President Donald Trump’s threats to punish China over trade have been displaced by a pledge to negotiate after hearing the perspective of his counterpart Xi Jinping. Below are five charts that may explain the change in tone.
The Setting
A meeting with Xi at Mar-a-Lago created "tremendous goodwill and friendship," Trump tweeted on Saturday. Commerce Secretary Wilbur Ross said the countries agreed to a "100-day plan" to discuss trade. The countries agreed to "properly" deal with trade friction, China’s Foreign Ministry said on its website. Trump told reporters en route to the summit in Palm Beach the U.S. has been treated "unfairly" and has made "terrible trade deals" with China. At the broadest measure, 40 million people work in export-related sectors in China today, 7 percent of non-farming employment, according to an estimate by UBS Group AG economists.That’s dwarfed by the services sector, which accounted for 43.5 percent of total employment last year, up from 36.1 percent in 2012, according to the National Bureau of Statistics. The new economy accounted for about 70 percent of new jobs, it said. Read more @ https://www.bloomberg.com/news/articles ... -s-threats
The Setting
A meeting with Xi at Mar-a-Lago created "tremendous goodwill and friendship," Trump tweeted on Saturday. Commerce Secretary Wilbur Ross said the countries agreed to a "100-day plan" to discuss trade. The countries agreed to "properly" deal with trade friction, China’s Foreign Ministry said on its website. Trump told reporters en route to the summit in Palm Beach the U.S. has been treated "unfairly" and has made "terrible trade deals" with China. At the broadest measure, 40 million people work in export-related sectors in China today, 7 percent of non-farming employment, according to an estimate by UBS Group AG economists.That’s dwarfed by the services sector, which accounted for 43.5 percent of total employment last year, up from 36.1 percent in 2012, according to the National Bureau of Statistics. The new economy accounted for about 70 percent of new jobs, it said. Read more @ https://www.bloomberg.com/news/articles ... -s-threats