Asian markets plummet

2 minute read

August 26, 2019

Monday morning, Asian stock markets plummeted and China’s currency plunged to an 11-year low following the latest tariffs on China announced Friday by President Trump.  And lo and behold, China is suddenly ready to seek a “calm end” to the trade war. Trump said he got a call from Chinese officials expressing interest in getting “back to the table.”  He said, “They want to make a deal. That’s a great thing.”

Treasury Secretary Steven Mnuchin told reporters Sunday that if "China would agree to a fair and balanced relationship, we would sign that deal in a second."  Sounds like they might be ready to agree. 

https://www.foxnews.com/politics/china-announces-it-seeks-end-to-trade-war-as-markets-tank-and-currency-hits-11-year-flatline


RELATED READING: Playing hardball with China 


But then there’s also this, from the Fox News account:

“Stephen Innes, a managing partner at Valour Markets in Singapore, compared the difficulty of assessing the volatile market situation to reading tea leaves.  ‘Nobody understands where the president is coming from,’ he said, adding that the best thing Trump can do for market stability is to ‘keep quiet.’”

With all due respect, keeping quiet and valuing market stability over American workers is what led to decades of China ripping off the US.  Trump is playing rope-a-dope, and it’s working.  I suspect these same geniuses would have advised Muhammad Ali to just stand still and let his opponents punch him until their arms got tired. 

 

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Comments 1-5 of 5

  • James

    08/29/2019 12:37 PM

    Who cares what Stephen Innes says? Anyone who is wishing for President Trump to be quiet either hasn't been paying attention or maybe isn't on Team USA.

  • Kenneth Brack

    08/27/2019 07:47 AM

    I love your analogy to Muhammad Ali. Early in the Trump presidency watching him respond to numerous attacks from enemies I had an epiphany about Trump. He is a pugilist: "a professional boxer." It's been a lot of fun watching him duck, weave, wait for the right moment, and then punch back.

  • Vicky Thomas

    08/26/2019 04:35 PM

    Excellent column Governor

  • Julie Bodley

    08/26/2019 12:58 PM

    People never like what they don't understand but instead of educating themselves abt it they just open mouth and squawk saying nothing. For goodness sakes gain some facts/knowledge before you make your opinion known. AND CNN IS NOT A RELIABLE SOURCE!! Actually research squawkers opinions, who you vote for, & where you buy from. How many people buy from companies that publicly hate who you are & what you believe?! Why would you give them your money?! We cannot continue to stick our heads in the sand, ignore wjat's going on around us because the world now is what we get! Research, vote, run for office, know what your children are being taught at school (it's not math, reading, writing, science & definately not history it's pre planned indoctrination of deviant sex & social issues that should be taught by parents/guardians not govt & schools!!

  • April Johnson

    08/26/2019 12:10 PM

    Or Trump could just send them a plane full of cash like Obama did. That solved a lot, didn't it?