China DOESN'T need U.S. !!!!
https://www.zerohedge.com/news/2018-05-13/trump-backs-down-china-threat-instructs-commerce-dept-rescue-zte "China has made the semiconductor industry a key priority as part of its "Made in China 2025" initiative aimed at reducing dependence on foreign technology imports. The plan calls for at least 40% of all Chinese smartphones to contain domestically manufactured chips - which the government is plowing billions of dollars into.
Analysts say money is now “raining down” from Beijing and state-backed funds to support the chip market, while the country’s state chip fund, known as the “Big Fund”, raised an estimated $32 billion in a new round of financing last month. -Reuters
“China won’t allow the U.S. to use chips as a stick against it. China can take steps to replace foreign-made chips with domestic,” reports China's hawkish Global Times newspaper in a commentary this week. “The Trump administration is helping us Chinese make such a decision.”
All of which perhaps explains why President Trump appears to have backed down from his most vociferous threats this morning"
Plus numerous others for thought:
To prevent China from trading in NON PETRO $.
China has launched its own petro Yuan.
China and Russia and Iran are trading via NON US$.
https://www.rt.com/business/426888-petroyuan-china-iran-sanctions-petrodollar/ "There has been speculation that restrictions on Iranian oil sales and the lack of access to dollar financing will boost demand for yuan-denominated Shanghai futures,”.
As the U.S.$ stops being sole reserve currency,
(Libya' Gadaffi Gaddafi' aim had been to introduce a new currency. Gaddafi possessed $7 BILLION reserves, estimated at 143 tons of gold, and a similar amount in silver. The gold was intended to be used to establish a pan-African currency based on the Libyan golden Dinar, to provide the Francophone African Countries with an alternative to the French franc, to free Africa of imperialist policies which left Africa in debt, to lead North Africa into a high degree of economic independence with a new pan-African currency. Hence his demise protected the status quo of the western countries.)
good ole Americans are going to have to learn to pay for all those superfluous wars, they have waged on debt, offloaded and discounted by the buyers of U.S.$.
Plus China holds American debt. Were it dump it, onto the market, U.S.$ will CRASH......
French oil giant "Total" seeks Iran sanctions waiver from Trump for $2 billion project.
Over Iran European seen as suckers aren't backing down. Sanctions ok for U.S., since their trade with Iran is MINISCULE.
China backs north Korea.
Iran has cemented Russia and China ever closer.
http://www.informationclearinghouse.info/49414.htm "Trump’s trade war with China will lead to the disruption of the supply chain which sustains the US economy and especially the 500 US multi-nationals who depend on the Chinese economy for exports to the US.
China will increase domestic consumption, diversify its markets and trading partners and reinforce its military alliance with Russia.
China has greater resilience and capacity to overcome short-term disruption and regain its dominant role as a global economic power house."
https://www.counterpunch.org/2018/05/10/the-us-plan-to-target-china/ China now responded more aggressively as well, promising an equal tariff response, declaring it was not afraid
China/ Iran https://www.reuters.com/article/us-iran-nuclear-china-oil-exclusive/exclusive-iran-asks-chinese-oil-buyers-to-maintain-imports-after-us-sanctions-sources-idUSKCN1IH0VL
· 7 days ago