President Trump tweets about a slow-down in the Chinese economy:
The message is toward the Panda. The specific language notes the cunning Dragon behind the Panda mask.
Classic Donald Trump.
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The baseline when reviewing economic data from China is to remember the entire economy is controlled by the communist central government. If they say the economy is “less strong” than previously expected, generally we can anticipate the truth is much worse.
The second aspect to remember is that many U.S. manufacturers made anticipatory advanced purchases, building up inventory ahead of possible tariffs, in the 3rd and 4th quarters of 2018. Those advance purchases can amplify any manufacturing slow down.
BEIJING (Reuters) – China is expected to report on Monday that economic growth cooled to its slowest in 28 years in 2018 amid weakening domestic demand and bruising U.S. tariffs, adding pressure on Beijing to roll out more support measures to avert a sharper slowdown.
Growing signs of weakness in China — which has generated nearly a third of global growth in the past decade — are stoking worries about risks to the world economy and are weighing on profits for firms ranging from Apple to big carmakers.
Earlier today President Donald Trump, Secretary of State Mike Pompeo and North Korean Minister Kim Yong Chol held a 90 minute meeting at the White House discussing ongoing talks and negotiations between the U.S. and North Korea.
Following the meeting the White House announced there would be a second summit between President Trump and Chairman Kim Jong-un:
“President Donald J. Trump met with Kim Yong Chol for an hour and half, to discuss denuclearization and a second summit, which will take place near the end of February. The President looks forward to meeting with Chairman Kim at a place to be announced at a later date.” (link)
(Via Fox News) […] The face-to-face came after Secretary of State Mike Pompeo met with Kim Yong-chol, North Korea’s lead negotiator, in the nation’s capital early Friday morning to negotiate terms that could lead to a second nuclear summit between Trump and Pyongyang leader Kim Jong-un.
In November of last year the New York Post interviewed President Trump asking specifically why he was not declassifying “spygate” documents, and inquiring about the purpose for his reluctance. President Trump responded: “Maybe it’s better that the public not see what’s been going on with this country.” Many people were disappointed, but its always been President Trump’s primary MAGA agenda to focus on economic security.
As the president has repeatedly stated: “economic security is national security.” And with that cornerstone as the foundation, any evidence of a ‘Five-Eye’ ally participating in the scheme against Trump becomes leverage. Cue the example:
EUROPE – European officials said today they will make tariffs on steel imports to the region permanent to help stem the glut of supply sparked by Donald Trump’s trade war against China.
The move highlights that protectionism is spreading and Donald Trump’s trade war with China is entrenching itself into the global economy.
The EU will impose quotas on 26 product categories and levy a 25% duty on imports exceeding those quotas, the executive arm said on Wednesday. The move cements proposals laid out last July with the stated aim of protecting European steelmakers amid Chinese overcapacity.
{{{snicker}}} Jobs, Jobs, Jobs. Oh, remember that White House meeting with the big four German automakers [back on December 4th, 2018] that mainstream media ignored amid the fury of the, well, more popular ‘resistance’ narrative? Yeah, THAT one.
Well, combine that US/trade White House meeting with the details within the USMCA auto-sector; mix it up a little with the initiatives and incentives for Trump’s industrial vocational apprenticeship training; give the auto actuaries a little time to crunch the numbers; let the executives settle in…. Then, fast forward a month and currently the big Detroit auto-show is happening.
Voilà!… what does Volkswagen announce? Ahem:
TENNESSEE – Volkswagen to create 1,000 new jobs in Chattanooga expansion:
Volkswagen announces Chattanooga will be the home to the company’s first electric vehicle manufacturing facility in North America. This will be the company’s second U.S. facility.
The automaker made the announcement Monday morning at the Detroit Auto show. Tennessee Governor Bill Haslam, Chattanooga Mayor Andy Berke, and Hamilton County Mayor Jim Coppinger were all in Detroit for the major announcement.
U.S. President Donald Trump speaks to farmers and ranchers at the American Farm Bureau annual convention in New Orleans. Anticipated start time 1:15pm EST.
UPDATE: Video Added
A very upbeat President Donald Trump calls in for an interview with Fox News host Judge Jeanine Pirro to discuss latest political events. Topics include: the immigration and border control crisis; democrat legislative intransigence; current -high priority- trade negotiations that are coming together; and the issues surrounding the last New York Times hit piece involving the DOJ and FBI.
On the issue of trade President Trump outlines his direct involvement in constructing the underlying details, that portends to very good outcomes. The economy is humming along; the “strongest economy in the world.”
Additionally, as President Trump discussing and corruption within the DOJ and FBI, President Trump seems to tease upcoming events: “You’ll be surprised at the names of people involved in the corruption”, the president said. Continuing with: “names you haven’t heard yet.”
The positive energy within this interview will send the media bananas.
Council of Economic Advisers Chairman Kevin Hassett appears with Lou Dobbs to discuss the strength of the U.S. economy, the partial government shutdown and the Trump administration’s trade talks with China.
Mr. Hassett, a happy warrior, walks through the recent economic data and jobs report.
The timing here is subtle as a brick through a window. As the U.S. and China sit down for the first preliminary trade discussions…. simultaneously, Chairman Kim Jong-un arrives in China for a pre-scheduled meeting with Chairman Xi Jinping.
Those who follow the strategy of Beijing will note China’s historic approach has been to leverage antagonism by their proxy province of North Korea to gain economic leverage over their U.S. adversary. It would appear Xi Jinping is sending exactly that message, yet again. China controls the DPRK and they will deploy that leverage as needed.
(BNO News) North Korean leader Kim Jong Un has arrived in China for a meeting with Chinese President Xi Jinping, making it his fourth visit in less than a year, the Chinese government announced on Tuesday.
Kim arrived in China on Monday and will be staying until Thursday, according to a spokesperson for the ruling Communist Party, who added that the visit is taking place at the invitation of Xi. Other details about the visit were not immediately known.
Commerce Secretary Wilbur Ross discusses the ongoing U.S. -vs- China trade confrontation and the current status of China’s economic contraction.
Secretary Ross outlines that China has now internally admitted their reliance on access to the U.S. market; and Team Trump’s continued willingness to deliver death by 1,000 cuts to Beijing if needed.
Secretary Wilburine is one of the top targets for Wall Street, GOPe, Democrats and the collective group of beneficiaries from the U.S. Chamber of Commerce. He is effective; he is unrelenting; they want/need him to be removed. The inability to influence the White House economic policy team is the biggest threat to the corporate lobbying community.