End the duopoly

Trump again raises idea of decoupling economy from China

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WASHINGTON (Reuters) – With the U.S. election approaching, President Donald Trump on Monday again raised the idea of separating the U.S. and Chinese economies, also known as decoupling, suggesting the United States would not lose money if the world’s two biggest economies no longer did business.

“So when you mention the word decouple, it’s an interesting word,” Trump told a Labor Day news conference at the White House in which he vowed to bring jobs back to America from China.

“We lose billions of dollars and if we didn’t do business with them we wouldn’t lose billions of dollars. It’s called decoupling, so you’ll start thinking about it,” Trump said.

Trump, who long touted friendly ties with Chinese President Xi Jinping as he sought to make good on promises to rebalance a massive trade deficit, has made getting tough on China a key part of his campaign for re-election on Nov. 3. He has accused his Democratic opponent, Joe Biden, who leads in most opinion polls, of being soft toward Beijing.

“If Biden wins, China wins, because China will own this country,” he said.

Biden for his part has criticized Trump’s Phase 1 trade deal with China, saying it is “unenforceable,” and “full of […]

read more here —> www.reuters.com

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