Trump Accuses China Of Economic Rape

Trump Accuses China Of Economic Rape (Image: IBTimes)

• Trump has recently accused China of raping the US with its trade policies.
• Told the people in Indiana at a rally that China is responsible for the greatest theft in the history of the world.
• Last year's reports of the trade deficit with China reached $365.7 billion.
• Last week China was put on a currency watch list to watch, track, and monitor currency manipulation.

Republican presidential front-runner Donald Trump has accused China of “raping” the US, in renewed criticism of China’s trade policy.

He told a rally in Indiana that China was responsible for “the greatest theft in the history of the world”.

Mr. Trump, a billionaire businessman, has long accused China of manipulating its currency to make its exports more competitive globally.

This, he says, has badly damaged US businesses and workers.

“We can’t continue to allow China to rape our country, and that’s what we’re doing,” he told the campaign rally on Sunday.

“We’re going to turn it around, and we have the cards, don’t forget it,” he added. “We have a lot of power with China.”

Mr. Trump, in his campaign manifesto, pledges to “cut a better deal with China that helps American businesses and workers compete”.

He sets out four goals that include immediately declaring China “a currency manipulator” and putting “an end to China’s illegal export subsidies and lax labour and environmental standards”.

Latest figures from the US government show the trade deficit with China reached an all-time high of $365.7bn (£250.1bn) last year. By February this year, it had already reached $57bn.

There was no immediate response from Beijing to Mr. Trump’s comments, but he is seen by many in China as an inspiration rather than an antagonist, says the BBC’s Vincent Ni.

Donald Trump has repeatedly accused China of manipulating its currency to make its exports more competitive, with what he says are damaging consequences for the US economy.

Rather than floating freely against the dollar, the Chinese authorities ensure the yuan maintains a closely fixed relationship with the US currency, and that it only trades in a narrow band either side of a fixed point selected by China.

Critics, including Mr. Trump, claim China is keeping its currency at an unnaturally low level to boost its exports to the US, which also damages the prospects of US firms selling their goods to China. That, they say, has created in a huge trade imbalance.

Latest figures from Washington for US-China goods trade in January and February show the relationship does appear to be skewed. In those months the US exported $16.3bn in goods to China, but imported $73.3bn, leaving a massive goods trade imbalance of $57bn.

Last week, the US Treasury placed China (and others) on a currency watchlist, after pressure on the US government to be more robust in combating any currency manipulation by trading partners.

The Treasury stated that none of its large trading partners had engaged in currency manipulation in the past year, but indicated it was concerned about growing imbalances with some of those partners, including China.

Source: Breitbart