It’s easy to sell soybeans to China. The Chinese are voracious consumers of the world’s raw materials. Until 2018, shiploads of soybeans from the American Midwest streamed to the processing plants that dot the Chinese coast. So there is no reason to applaud the news that the Chinese government has offered to guarantee large purchases of American soybeans as part of a potential trade deal with the United States that the Trump administration is pushing to complete by late March or early April.
Instead, it is a worrying sign that the administration may settle for an ephemeral victory at the expense of America’s long-term economic interests.
President Trump, by imposing tariffs on Chinese imports, created an opportunity to improve America’s economic relationship with China. It is a chance that may not come again. The American economy is strong, while the Chinese economy is faltering. China still needs American technologies. And despite Mr. Trump’s distaste for multilateralism, much of the rest of the world shares his concerns about China’s economic policies and trade practices.
His decision to go it alone, rather than making common cause with longstanding allies, was ill advised, and his tit-for-tat trade war has caused significant pain for many Americans. Farmers and other American exporters lost access to an important market; consumers are paying higher prices on a wide range of goods.
But Mr. Trump was right to argue that China has engaged in unfair competition. The question is whether he can win significant concessions.
The proper measure of any deal is whether it achieves Mr. Trump’s stated purpose in starting this trade war: persuading China to curb its use of state subsidies, regulations and various kinds of informal interference that limit the ability of American companies to sell goods and services in China, and help Chinese companies sell goods in the United States.
Measured as a share of Chinese gross domestic product, imports of American manufactured products have fallen by more than half since 2000, according to calculations by Brad Setser of the Council on Foreign Relations. One reason is that China aggressively subsidizes the creation of homegrown alternatives. To take a noteworthy example, a government-owned company, the Commercial Aircraft Corporation of China, is developing a single-aisle passenger jet, the C919. The airplane is intended to reduce China’s spending on Boeing 737s — and to create a new rival for Boeing in the global market.
China’s lax enforcement of its environmental and labor laws also amounts to a significant subsidy for Chinese manufacturing, and an inducement to relocate American jobs to China.
Robert Lighthizer, Mr. Trump’s lead trade negotiator, has said the administration expects to make progress on these issues. But the United States has focused its demands on making it easier for American companies to operate in China, including protections for intellectual property and more leeway for foreign financial firms. China has accelerated work on a foreign investment law that would codify some of those changes, including a ban on the practice of requiring foreign companies to share proprietary technologies with the Chinese.
American corporate expansion in China would benefit shareholders and executives. But it would not create factory jobs for American workers, Mr. Trump’s stated goal.
What’s more, any promises the administration secures from China require an effective enforcement mechanism. The United States has failed in past efforts to hold China to its commitments through the World Trade Organization and through bilateral talks.
The United States also is seeking an enforceable agreement to prevent exchange rate manipulation. China accelerated its development by saving rather than spending much of what it earned from exports to the United States. This suppressed the value of its currency, making its exports relatively cheap and American imports relatively expensive. The failure of previous administrations to hold China to account on this front has passed beyond remedy, and China is no longer engaged in currency manipulation, at least as defined under American law. But a framework to monitor and address manipulation could deter future shenanigans. And other countries continue to engage in currency manipulation at the expense of the United States, so an effective deal with China could serve as a constructive precedent.
The looming risk, however, is that Mr. Trump will accept a deal that allows him to claim a superficial triumph without forcing China to make enduring changes.
In particular, the United States should reject any Chinese offer to guarantee large-scale purchases of American agricultural products like soybeans or energy products like liquid natural gas — indeed, guaranteed purchases of any kind.
Such deals could serve Mr. Trump’s desire to reduce America’s annual trade deficit with China. But the achievement would be purely cosmetic. The overall balance of America’s imports and exports is important; the balance with any particular country is not.
Past administrations have rejected similar offers from China because they run counter to America’s longstanding goal of reducing the Chinese government’s heavy-handed management of the country’s economy.
They would also come at the expense of America’s allies. If China buys more soybeans from North Dakota, it would buy fewer from Brazil. An international consensus that China’s trade policies are problematic has increased pressure on China to make meaningful concessions. Maintaining a unified front would help to ensure that China honors its commitments. Grabbing market share is unlikely to further that objective.
Mr. Lighthizer has argued, correctly, that any agreement with China is a step in a long-term process. The United States should not strike a deal that undermines those long-term goals in exchange for ephemeral gains.
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2017年香港黄大仙单双【吕】【布】【端】【坐】【在】【马】【背】【上】，【目】【光】【远】【眺】，【怡】【然】【不】【动】。 【强】【大】【的】【人】【本】【身】【就】【会】【有】【着】【相】【当】【的】【自】【信】，【而】【如】【果】【跟】【在】【一】【个】【更】【加】【强】【大】【的】【人】【身】【旁】，【那】【种】【自】【信】，【将】【会】【变】【得】【更】【加】【的】【充】【实】。 【乱】【世】【之】【中】，【讲】【求】【的】【是】【实】【力】【为】【尊】，【谦】【和】【礼】【让】【的】【人】【性】【虽】【然】【也】【能】【够】【让】【人】【亲】【近】，【但】【不】【会】【令】【人】【信】【服】，【也】【难】【以】【服】【众】。 【毕】【竟】，【在】【乱】【世】【之】【中】，【永】【远】【不】【要】【低】【估】【人】【类】【的】【残】【忍】
“【山】【德】【鲁】【大】【师】，【你】【知】【道】【这】【个】【遗】【迹】【的】【来】【历】【吗】？” 【丁】【风】【他】【们】【沿】【着】【魔】【法】【屏】【蔽】【后】【的】【通】【道】，【走】【了】【很】【长】【一】【段】【路】。【终】【于】【在】【路】【的】【尽】【头】，【看】【到】【了】【一】【处】【城】【堡】【的】【遗】【迹】。 【山】【德】【鲁】【摇】【了】【摇】【头】【说】【道】：“【这】【个】【城】【堡】【遗】【迹】【很】【奇】【怪】，【有】【被】【人】【强】【行】【改】【造】【的】【痕】【迹】。【我】【无】【法】【看】【出】【它】【的】【来】【历】。” 【丁】【风】【把】【目】【光】【看】【向】【佐】【克】【利】，【这】【种】【遗】【迹】【中】【的】【风】【险】，【可】【不】【仅】【来】【自】【暗】
“【三】【位】【老】【哥】【莫】【要】【推】【辞】，【眼】【下】【正】【好】【趁】【此】【机】【会】【务】【实】【根】【基】，【这】【些】【天】【我】【们】【需】【要】【再】【努】【力】【些】，【力】【争】【把】【我】【们】【的】【境】【界】【再】【推】【高】【一】【层】，【等】【到】【决】【赛】【圈】【也】【好】【应】【对】【各】【种】【突】【发】【状】【况】。”【林】【宇】【摆】【了】【摆】【手】【道】。 【随】【即】【不】【待】【三】【人】【说】【话】【便】【将】【那】【一】【株】【冰】【玉】【幽】【莲】【采】【摘】【而】【起】，【随】【后】【指】【尖】【灵】【气】【迸】【发】，【指】【刀】【瞬】【切】【而】【下】，【将】【冰】【玉】【幽】【莲】【的】【九】【块】【花】【瓣】【分】【散】【开】【来】，【在】【空】【中】【飘】【舞】。 2017年香港黄大仙单双【林】【间】【小】【屋】【内】【传】【来】【馥】【遥】【震】【惊】【的】【声】【音】：“【你】【说】【什】【么】？！【你】【是】【说】【是】【人】【把】【张】【伯】【活】【活】【咬】【死】【的】？！” 【馥】【遥】【站】【在】【竺】【先】【生】【的】【房】【内】，【竺】【先】【生】【坐】【在】【桌】【前】：“【这】【也】【是】【我】【的】【猜】【测】，【因】【为】【在】【我】【检】【查】【张】【伯】【的】【尸】【身】【之】【时】，【在】【他】【血】【肉】【模】【糊】【的】【脖】【颈】【处】【发】【现】【了】【腐】【肉】，【张】【伯】【只】【是】【昨】【晚】【死】【的】，【不】【可】【能】【会】【有】【黑】【色】【的】【腐】【肉】【出】【现】，【唯】【有】【可】【能】【的】【就】【是】【咬】【张】【伯】【的】【那】【个】【身】【重】【所】【毒】
【韩】【延】【锋】【握】【着】【长】【剑】，【说】【道】：“【看】【来】【这】【个】【龙】【帮】【是】【一】【个】【很】【让】【人】【恐】【惧】【的】【势】【力】，【我】【们】【要】【小】【心】【了】。” 【宁】【哲】【露】【出】【不】【屑】，【哼】【道】：“【嘁】，【什】【么】【狗】【屁】【龙】【帮】，【厉】【害】【的】【帮】【派】【也】【不】【会】【选】【择】【这】【么】【落】【魄】【的】【地】【方】【落】【脚】【的】，【我】【看】【也】【不】【过】【是】【徒】【有】【其】【名】【罢】【了】。” 【糊】【涂】【仙】【严】【肃】【的】【说】【道】：“【高】【手】【隐】【于】【市】，【我】【们】【无】【论】【做】【什】【么】【都】【不】【能】【掉】【以】【轻】【心】。” “【想】【知】【道】【龙】【帮】
【阿】【铭】【面】【目】【狰】【狞】【挣】【扎】【着】，“【放】【开】【我】！【我】【要】【杀】【了】【这】【个】【女】【人】！” 【有】【人】【把】【北】【辰】【玫】【扶】【起】【来】，【北】【辰】【玫】【早】【已】【晕】【过】【去】【不】【省】【人】【事】。 “【把】【他】【拉】【下】【去】【严】【加】【审】【问】！” 【来】【的】【人】【迅】【速】【清】【理】【现】【场】，【他】【们】【看】【到】【诗】【兰】【的】【尸】【体】【时】，【都】【不】【忍】【心】【看】【了】，【那】【个】【刺】【客】【怎】【么】【下】【的】【去】【手】。 【阿】【铭】【跪】【在】【大】【堂】，【北】【辰】【家】【主】【亲】【自】【审】【问】，【敢】【在】【他】【的】【府】【里】【杀】【人】，【这】【事】【情】【决】【不】