Ofunaofu:
Watch BATerians claim that Biden is implementing Tinubu's idea of widening the tax net. 

WrriterNg:


You're poorly informed.

Chinese market is 5× bigger than the US market.

Top US companies make a huge chunk of their revenue from China.

Literally every US product is made in China.

Let's not even talk about China bailing out the US financially every single time.

The US needs China more than China needs it.

WrriterNg:


You're poorly informed.

Chinese market is 5× bigger than the US market.

Top US companies make a huge chunk of their revenue from China.

Literally every US product is made in China.

Let's not even talk about China bailing out the US financially every single time.

The US needs China more than China needs it.

DMerciful01:

udemzyudex:
US is China biggest market.

They'll feel it.

WrriterNg:
A dying empire on it's last legs.




And who's the US biggest market?? China is.

China would retaliate I'm sure.

LadyExcellency:


China is not US match in world politics. Religion is getting the worst part of you. Imagine choosing China to lead world affairs with communist ideology. The US made China what it is at present.

The projects the Chinese are doing in Africa and heaping debts to the grandchildren and African future is what the USA gives out as grants and aid.

Putin hopes for the US/Russia relationship to improve rather than putting his hope in the BRICS.

Tianamen1:
Grandstar, please I would like to read your opinion on this news.

cc Nairalanda1. I know you mainly talk about subsidies and this is a trade/macroeconomic topic, but it is critical to Nigeria's crisis.

grandstar:


I am for the free market and therefore consider what Joe Biden has done as a wrong step.

Yes, China is guilty of heavily subsidizing manufacturers but applying unilateral protectionist tariffs is wrong. As someone commented, it will increase cost of goods for the average American family by $1,500.a year

If America believes China is cheating, it should take the matter to the Wortd Trade Organisation who would judge the matter. If China is found guilty, America would be free to place retaliatory tariffs on Chinese goods

What if China retaliates which I'm sure it would. During the Trump presidency when it first introduced tariffs on Chinese good, China hit back. It placed tariffs on some Americans and a notable one was on soybeans. This hit American soybeans farmers hard. China will target America exports that would cause it the most pain.

What China does is wrong and it will be the one to suffer the most painful consequence eventually.

Already, China's long term decline has begun and part of the reason is its over reliance on exports for growth. China now needs to generate economic growth through consumer spending but it isn't happening as consumer confidence is low.

Japan's long term decline began in the 1990s and it has now lost its place as the 3rd largest economy in the world to the 4th position. Germany is now no.3. Japan too was over reliant on exports for economic growth.

ponziponzi:


The United States will feel a bigger impact in the car market. China has the largest car market globally, even bigger than the US and EU markets combined. Every car company wants to sell cars in China. For American car companies like GM, China is one of the most crucial markets, but Chinese car sales in the US are almost zero.

I get why there's a tariff besides politics. The US is way behind in making electric vehicles (EVs) and batteries. It's kind of crazy. If Chinese cars are allowed into the US, it could really hurt the US car industry.

udemzyudex:


Lol..

This analysis is funny, US will feel a bigger impact? OK.

Tianamen1:

If America can use tariffs to protect its car makers, why can't Nigeria implement a similar policy to save its Naira? Nigeria's main export is crude oil. Countries can't retaliate against Nigeria. this is just common sense.

Dennisochampa:
The Chinese are so manipulative...

They use their population to devastating effect...
Produce more with less resources...
Sell at useless rates to drive the real innovators out of business...

For example... Have u seen the Chinese rolls royce... U will marvel...
It's a copy of the real thing and it looks so cool so the end user will ask himself...

Why spend billions of naira on a real rolls royce when I can spend just 75m on a Chinese copy...

What the Chinese are doing now is what I expect Nigeria to do especially with agriculture....

We have the land... We have the population... Why can't we go into large scale farming and export what the world needs

Potatoes, beans, palm, coconut, cassava, name it... Our soil is good enough!!!

For Benin for example, anything you plant for anywhere.. Give am 2 days... E don germinate especially plantain... But na 9ja wen get all these things pass na in food for cost pass....

E no go better for our leaders...

God spare my life, na agriculture I Wan take do my own retirement....

I go export plantain especially commot from 9ja and I go make mad money from am....

grandstar:


Banning imports does not save the Naira.

If you like ban the importation of every good and service into Nigeria, the Naira's value won't appreciate. It might even lose value.

America is implementing punitive tariffs on Chinese goods is not to save the Dollar but to prevent the loss of US jobs.

Why do you want to save the Naira for? Do you want Nigeria to import more? The stronger the value if the Naira, the more the country imports and the weaker the Naira, the less it imports.

In the 1980s, many parents used to send their kids overseas for their secondary school education. Then it was like $1-N1.

Then in 1986, IBB devalued the Naira to $1-N4.

All of a sudden, parents started withdrawing their children from these secondary school and bringing them back to Nigeria. They couldn't afford them again.

What I'm trying to say is, a weak Naira discouraged parents from sending their kids overseas for secondary school.

Nowadays, it is mostly overseas university education that parents indulge in. A devalued Naira probably saved the country hundreds of millions of dollars annually.

Nigeria needs an export or perish mentality. Import substitution policies don't work (Nigeria has been trying them for 40 years)

WrriterNg:
A dying empire on it's last legs.




And who's the US biggest market?? China is.

China would retaliate I'm sure.

WrriterNg:


You're poorly informed.

Chinese market is 5× bigger than the US market.

Top US companies make a huge chunk of their revenue from China.

Literally every US product is made in China.

Let's not even talk about China bailing out the US financially every single time.

The US needs China more than China needs it.

ponziponzi:


I understand that you might be lacking some depth to fully grasp my point, but if you could, I'd like you to point out anything you find funny or factually incorrect in my comment above?

t2luv1:


That dying empire still generates 60% of the world's wealth. China's economy with its 3 times the population still has 1/3 GDP of the USA. 75% of the goods in the port of Shanghai China's largest port are destined for the USA. China is not the USA's largest market both Mexico, and Canada are 1 and 2 followed by the EU. Partner gets your facts right. California by itself is the world's 5th largest economy and right behind is the Lone Star State of Texas at number 7 not too bad for a dying empire. FYI Russia's economy is just the same size as the state of Illinois

WrriterNg:


You're poorly informed.

Chinese market is 5× bigger than the US market.

Top US companies make a huge chunk of their revenue from China.

Literally every US product is made in China.

Let's not even talk about China bailing out the US financially every single time.

The US needs China more than China needs it.

LadyExcellency:

Btw, I am older than fifty years of age and can still recall we owe nobody in 1977 when we used our excess reserve for fedtac jamborees and paid workers double salaries.

IMF is Europe's Bank with Europeans at the helm of affairs.

Next

bigpicture001:


Population is not market

udemzyudex:


Oga go take several seats.

ScarletBrace:


Malformed brain.
E be like say you live on the moon. If you're up to date on what's going on, you'll know that most production lines are leaving China. A good number left already.
The EU is a potential market more inclined towards America than China. The Asian market has got a huge aspiring India, South Korea and Japan, still serving the US' interest in many ways.
Production lines are China's lifeline as a manufacturing hub. That's not quite so for the US.
China currently has a global manufacturing output of about 28%. The US has 16%. Japan has about 7%. Germany, about 5%. South Korea and India 3% each. We still have the UK, Italy, France and other EU countries slightly below this range.
That tells you the Chinese depends more on manufacturing than the US. The US at 16% manufacturing globally is still the largest economy by GDP. That tells you she has other things going for her.
Now look at how Europe moved away from Russian gas. Only very few EU countries use Russian gas today. See the chart below to confirm the drastic change in a space of roughly 2 years.
If they can do this to cheap Russian gas, so what on earth will make cheap Chinese wares get anything different?
Europe and America are cousins. Africa and Asia are distant neighbors. If China faces a lash from the US, she'll likely get same from the EU.
You guys don't learn from historical connotations and current realities. You just hug you sentiments and get buried with it in delusion and destructive denial.

maestro299:

Biden's a liar and he knows it. Trump was one U.S. president that fought China and Xi Jinping economically to the point that even the Democrats tried to put a negative spin on it. What was MAGA all about? Repatriating jobs and labor that were going to China and Central America back to the U.S!