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Southern MN | The beef with China has more to do with Intellectual Property than trade deficits. Kevin O’Leary explained it pretty good in an interview a few days ago. Company hires Chinese firm to manufacture products for them. After the contract if production has had success they make a knock off and sell it 40% cheaper. No research and development, no marketing to get product going just copy and undercut the owner of the idea. Also they have never stood up to their end of the bargain when entering the WTO. They have not opened their markets to foreigners like the world has to them. The trade shadow shares on our stock exchanges without following GAP rules. Are allowed 3 years to be in compliance and still ignore it. List goes on and on. Unfortunately I am not smart enough to know if the tariffs will work. But after 30 years of letting this **** slide will not be solved overnight and probably not at all. Both parties are at fault. The carrot of having free markets in China eventually caused everyone to let this slide as everyone wanted a piece of their huge market. Communist party surprised everyone by holding on to power, chickens have come home to roost. | |
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What is the goal of these tariffs?
