Posted 4/13/2019 21:49 (#7437967) Subject: Last week, South China Morning Post ......
Last week, the South China Morning Post published a rumor that the Chinese had agreed to allow unilateral retaliation if they could do so as well. It was pretty astonishing, if true. Now, Mnuchin seems to be confirming this.
The Chinese resisted unilateral retaliation because it essentially means that there would be no recourse to the WTO or any other third party in a dispute and they viewed it as a serious infringement of their sovereignty .
It looks like they decided that if they couldn't satisfy the Americans without it then the next best thing was to hold the US to the same standard. I wonder if the trump administration realizes how dangerous this could turn out to be.
For the first time, the Chinese will be able to reach right into the US economy & society and take us right by the throat while we will have no recourse.