Blog
I believe the most important thing Americans must do is to secure their economic well-being in an increasingly challenging, complex world. What I have written about all these years is the process of creating wealth, not for any one individual, but for the United States as a whole. Ever since I was a young correspondent witnessing the emergence of China after the country opened in 1979, I’ve believed we have to get more serious about creating wealth. I retain faith in the resiliency of the U.S. economy and the enterprise of American people. If Americans have the right strategies, we can once again create widespread wealth. Come with me on this journey.
Ford Cutting Jobs Because of Trump Tariffs
October 11, 2018
Ford Motor said yesterday that it is going to have to cut management jobs in the United States because President Trump’s tariffs on steel and aluminum is hurting the company’s profitability. The story didn’t make the daily newspapers so for all my loyal readers, read it and weep.
Thanks to Andrew Ross Sorkin on China’s Holding of U.S. Debt
October 10, 2018
I am indebted to Andrew Ross Sorkin of The New York Times for following up on my blog from Friday asking whether the Chinese would “weaponize” (his term) their holding of $1 trillion of U.S. government debt. Here is his piece. He notes that the usual experts don’t believe China would ever do anything with […]
The bond sell-off: Is China sending us a message?
October 5, 2018
The financial markets are all atwitter about a two-day sell-off in U.S. government bonds, which is having a nasty impact on the U.S. stock market. Interest rates are increasing. Who is the largest holder of U.S. government debt? China’s government. They would not have to do anything radical to help create a sell-off. Even if […]
Trump Has No Idea About the Range of Actions China Could Take
September 17, 2018
With President Trump’s finger apparently poised to launch another $200 billion in tariffs on goods made in China, the Chinese are floating the idea that they could impose restrictions on the export of parts and components that American companies need to make things in the United States and elsewhere in the world. That would cripple […]
Lessons for President Trump’s China Negotiators: Remember the Structural Impediments Initiative
August 27, 2018
Back in the late 1980s, the American government was frustrated by the size of Japan’s trade surplus with the United States and launched negotiations called the Structural Impediments Initiative (SII). The theory of President George H.W. Bush’s trade team was that Japan had structural barriers that prevented American companies and others from selling more parts […]
Supporting the Foreign Correspondent’s Club of Hong Kong
August 15, 2018
I’m pleased that the Overseas Press Club today came out publicly to support the Foreign Correspondent’s Club in Hong Kong, which is resisting pressure from both the Chinese and Hong Kong governments. Here is our statement.
