Friday, April 7, 2017

Donald Trump lies about China, and The New York Times debunks him

Since China's president Xi Jinping is visting Donald Trump at Mar-a-Lago, The New York Times debunked some of the biggest lies Trump has said about China. Here are some highlights:

On the supposed $500 billion trade deficit with China
False. There is a trade deficit but it amounts to $347 billion. In exchange, Americans get cheap products.

On the claim that China is the champion of currency devaluation
False. China used to have its currency undervalued, but today it's the opposite: its currency is overvalued.

On the claim that China is responsible for America losing jobs
False. From 2000 to 2010 only 13.4% of lost American manufacturing jobs can be attributed to free trade not just with China, but with other nations as well. 87.8% of jobs lost are actually due to automation.

On China's tariffs being too high
False. China's tariffs are 9.9%. But so are Canada's, Australia's and the European Union's.

In other words, Trump not just is a liar, but he's 100% ignorant of economics and foreign affairs.

Oh, and him and his daughter Ivanka manufacture their clothing and other products in China.


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