Tuesday, 02 January 2024 12:17 GMT

Zoo Time At Operation Circe


(MENAFN- Asia Times) When China's vice-premier and top trade-war negotiator Liu He arrived in Washington in May 2018 to finalize a trade agreement with theat the end of tortunegotiations, neither he nor his hapless opposite number Robert Lighthizer realized he'd walked into an ambush sprung by the capricipresident.

Even as Treasury secretary Steven Mnuchin announced that the trade war was on hold, and Wall Street broke out the bubbly, Donald Trump harshed their mellow with yet another round of tariffs and trade blocks.

Gloating that he'd compelled China to buy huge amounts of agricultural products they didn't need, it was yet another humiliation through which the dignified Chinese politician stoically plowed in the interests of his country and the global economy.

Accusations had been blasted at China in a character-assassination broadside by both sides of theHouse of Representatives from which neither facts nor history could save it. China, not Trump, had reneged on the trade deal. China was stealing IP. It was a currency manipulator, despite the fact that, far from undervaluing the yuan, China was spending vast amounts of its reserves propping it up. China, not the top one percent of thethat now owned as much as the bottom 90 percent, was the cause of America's misery.

You might suspect, from all the invective in high places, that thedidn't actually
want
a stable relationship with its successful partner. China may have saved the world from America's Great Crash of 2008 when the capitalist system itself was imploding but, suddenly, it was decreed that the rising superpower could do no right and theno wrong.

But still China kept a stiff upper lip.

Insult after insult from slap-happy politicians eager to outdo one another drew comment that China was outstandingly polite, exemplary and grown-up, if a tad too passive. A nostalgic fondness grew for old-school diplomacy rather than shoot-from-the-lip grandstanding.

Which was frustrating for the stone-throwers in their glass houses.

MENAFN05092023000159011032ID1107006739



Asia Times

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.



More Story