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Tag Archives: Trade Wars

Unintended Consequences: Easy Money = Overcapacity = Trade Wars

Submitted by John Rubino via DollarCollapse.com, It’s unclear what China was thinking when it borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial products. There’s no record of it checking in with the other countries that have such industries to see if a sudden surge of cheap imports was okay with them. Turns out that it’s not. The US in particular seems to lack a sense of humor where the death of its steel industry is...

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Albert Edwards: “Let Me Tell You How This All Ends”

The dollar's recent rapid slide has been accompanied by a constant backdrop of dovish cooing from the Fed. Until this week, SocGen's Albert Edwards notes that both equity and commodity markets had embraced the weak dollar as the elixir to solve all their ills. That relief, however, has now proved fleeting as fear of weak economic activity has reasserted its influence on investors. The weak dollar, Edwards warns, should be seen as merely a shuffling of deckchairs on the Titanic before...

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The Trade Wars Begin: China Retaliates To Steel Tariffs With Global Anti-Dumping Duties

When looking back in history, December 23, 2015 may be the date the global trade wars officially began. On that day, as we reported at the time, the U.S. imposed a 256% tariff on Chinese steel imports. It did so perhaps with good reason: with its local end markets mothballed, China was desperate to dump as much excess capacity as possible offshore with shipments of steel, oil products and aluminum all reaching new highs according to trade data from the General Administration of Customs, and...

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Is This The Rationale Behind Russia’s Withdrawal From Syria?

Submitted by Robert Berke via OilPrice.com, As reported around the world, Russia’s decision to greatly reduce its military presence in Syria, coming as it did with little warning, has left the world struggling for explanations. After having rescued the Syrian Government’s position in Syria from certain defeat and securing a partial truce along with the onset of an imminent peace conference, the partial withdrawal is seen by many as a message to the Assad government to not take...

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Great Depression Redux: First Currency War, Now US Unleashes Trade War With China

Given the vicious downward spiral of competitive devaluation that is washing around the world's economic bathtub, it appears - just as we saw during The Great Depression - that currency wars have given way to mal-investment-fueled protectionism as US launches the first missile in the trade wars with a massive 266% tariff on imports of cold-rolled steel. “There’ll be a short-term benefit,“ said John Packard of Steel Market Update. ”However, in the long run, the U.S....

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The Trade Wars Begin: U.S. Imposes 256% Tarriff On Chinese Steel Imports

Two weeks ago, when looking at the latest import price index data, we showed something disturbing: China has become an all out exporter of deflation. As the chart below shows, In November, import prices from China decreased 1.5% over the past 12 months, the largest year-over-year drop since the index declined 1.7% for the year ended in January 2010.   Howdid this happen? As we explained, with all of its domestic markets fully saturated, China has had no choice but to export its soaring...

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