China’s Japanese Lesson For Fighting Trump’s Trade War | News Sponsored by TrumpShop.net

Aug 05, 18
China’s Japanese Lesson For Fighting Trump’s Trade War | News Sponsored by TrumpShop.net

U.S. President Donald Trump speaks during a campaign rally at the Florida State Fairgrounds Expo Hall in Tampa, Florida, on July 31, 2018. (Photo: Saul Loeb/AFP/Getty Images) U.S President Donald Trump has threatened to increase the next round of new tariffs on $200 billion Chinese imports from 10% to 25%. This would be a serious escalation if it comes to pass. Will China begin to back down under rising American pressure, which is presumably what Trump wants to see?  In this context, it is instructive to re-examine the trade war that the U.S. waged against Japan in the 1980s, largely forgotten today by many, but evidently not by Beijing. What happened to Japan then is precisely what Beijing is determined to avoid now. What is this Japanese lesson? Japan recorded its first post-war trade surplus with the U.S. in 1965 on the back of rapidly expanding export-oriented manufacturing. It continued to mount in the following two decades, peaking in 1986 at 1.3% of America’s GDP, according to IMF data. America started to grumble in the early 1970s about Japan’s rising trade surplus. But its was the dramatic increase in the world price of oil in the aftermath of the oil shocks of the 1970s that triggered the American tr

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