US starting economic fight with China: Report

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The United States is reportedly seeking a new agreement with the European Union and Pacific Rim countries in order to stop China’s growing economic power.

US starting economic fight with China Report

The deal was planned because Washington is worried the US could lose influence to China, The Hill reported on Friday.

According to the report, “Congress and the White House are pushing broad trade deals that risk triggering an economic fight with China.”

“The EU and the United States share the goal of using the agreement to jointly pioneer new and more effective approaches to issues of common concern in third countries and in the global trading system itself, such as state-owned enterprises and measures that favor domestic industries,” a spokeswoman for the Office of the US Trade Representative said in an interview with The Hill.

China, however, says the agreement will be an act by the US to try to force changes to China’s domestic laws.

“Now they’re talking about policies that are more concerned with sovereign, domestic decisions,” said Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation. “That means behind borders, within your own countries.”

“There are many new rules – we need to get their meaning and understand whether all these rules will apply to the whole world,” he said. “That’s most difficult – how to unite, how to connect different countries’ policies and make it fair and open.”

The White House issued a fact sheet when it launched talks with the EU about the deal in summer.

According to the fact sheet, the two sides would seek to “develop rules, principles, and new modes of cooperation on issues of global concern, including intellectual property and market-based disciplines addressing state-owned enterprises and discriminatory localization barriers to trade.”

China won’t eclipse the US economy until 2028, a new study by the Center for Economic and Business Research (CEBR) predicted on Thursday.

“China’s spectacular economic development has continued and although the increasing maturity of its economy and relatively unfavorable demographics mean that growth will inevitably slow, we still expect China to overtake the US to become the world’s largest economy in 2028 for the first time since 1890…This is later than some analysts have suggested,” the CEBR said.

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5 Comments »

  1. National Socialist January 8, 2014 at 11:04 am - Reply

    2014 is the beginning of a rough start might be the flash point of economic woes that leads to world war 4

  2. levi January 5, 2014 at 4:21 am - Reply

    That ain’t the U.S., i.e., us, its the great men and the rich men of the earth vying for control. You institutional units, human resources are the fodder to be consumed and gotten rid of. This ain’t your world, what you say doesn’t count unless its “Heil satan” so these machinations are being DONE to you. These aren’t trade treaties, they are transfers of wealth by secret meetings, world conspiracy to rid the world of men. This agenda doesn’t profit any long term scheme except to bring on WW III. These matters are only of use from a different viewpoint, the fallen realm to rid the world of men. China isn’t going into that long night peacefully, when its obvious we are standing in the way of their survival. If we are taken out they are the master of the world and its big enough to carve up between them and Russia. Washington is described as the most esoteric city in the world. They too are going to be betrayed by the great betrayer. This continued destruction of America is what is called “mixed war”. We are the enemy because we would think to resist abuse and oppression. This gutting of our industry to the point we are de-industrialized to a pre Civil War level of industrialization is an act of war. Conquered nations get gutted, populations wander with out homes, daily food is unpredictable, violence by the occupiers-i.e. a standing army–your local ‘police’, they have their military outposts in every city to serve their masters, the money powers. And a whole list of other ills we see imposed in other nations by the willing dupes for bankster wars, your military. These same evils are now being imposed from Washington, AC/ DC in this nation and destruction from within is being implemented by these policies. That ain’t a trade agreement is further gutting of a conquered, immoral people.

  3. Archie1954 December 30, 2013 at 8:47 am - Reply

    The US will be eclipsed much sooner. If the reserve currency status the US has enjoyed for many decades is removed, America will be on the skids. As far as I’m concerned in can’t happen son enough. The outrageous arrogance and belligerence of the degenerate and decaying US empire is hard enough to take,but it is even worse to know that the American high lifestyle has been subsidised for years by the rest of the world through the reserve currency system!

  4. carl December 30, 2013 at 12:07 am - Reply

    in a country that says no to any new ideas that come along ,I would expect to lose the top spot to China.They are pushing growth in all the things we used to be a leader in,used to be because we do not make anything and innovation is limited to new internet gadgets and phones.WE need a new way to collect taxes and fund schools that eliminates property taxes that would result in,affordable housing and senior citizen housing they are a benefits as well as a shift in wealth from government to people. A tax based on income and payed out equally to each students education regardless of where he or she lives would break the cycle of poverty and crime as well.Small start up companies must be funded to grow, and markets opened to them to sustain growth in all fields.The space agency has to have funding for big ideas and put them into practice now. Highways and bridges need upgrades now .Singel payer health systems must be adopted using the Canadan system now,modifying the wait times for different needs.Old overhead power grids replaced with on site power generators in redundancy as in the solar wind and other types.Any overhead systems pipe buried in small pipe tunnels so that robots can repair the lines saving people to do other safer jobs above ground,Thorium systems must be brought on line to replace old dangerous and dirty Uranium systems.We must build things that put people back to work not put robots to work when people can work with robots to make the work faster and less tiring to the workers .these and many more things need to start happening now.

    • Lupita Flores December 30, 2013 at 11:17 am - Reply

      VERY GOOD! Euroamericans re pretty smart, intelligent people’

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