Breaking News

Asia Today ISSN 1861-4604 Wednesday, May 23, 2018

Headline

Romney's China policy could trigger trade war with 'fastest-growing' market for US exports

Romney has promised to get tough on China

Share on Facebook October 12, 2012, Reporter : ANI, Reader : 577

Mitt Romney. Photo: AFP news

 

Washington: Oct. 11 (ANI): US Republican presidential candidate Mitt Romney has promised to get tough on China to help American workers if elected to the White House, but his plans could backfire.

Romney has said that, on his first day in office, he will designate China as a currency manipulator, a step no administration has taken against any country for 18 years.

That could, eventually, lead to tariffs punishing China for policies that Americans believe unfairly keep Chinese products cheap, hurting US manufacturers.

According to the Herald Sun, tariffs could trigger a trade war with a country that is the fastest-growing market for US exports. Even if they don't, the designation would instantly set back relations with Asia's emerging superpower.

The US seeks Chinese cooperation on international hot spots, such as North Korea and Iran, and wants to narrow differences over how to handle maritime territorial disputes in East Asia, the report said.

Given the potential repercussions, some foreign policy experts doubt Romney would carry out the currency threat.

Romney has also taken aim at Obama's 'pivot' to Asia, a strategy of deploying more forces and shoring up US alliances there, in part to counter China's military buildup, the report added.

In a speech this week, Romney said China's recent assertiveness was 'sending chills through the region'.

He said the pivot is under-resourced and has alienated US allies elsewhere. He outlined plans to expand US naval power - although it's unclear how he'd pay for it since he also wants to slash government spending, it said. (ANI)

More Euro Asia news of the month

Photos Eight dead after subway in southern China collapses

BEIJING, China - Eight people were killed and three remained missing after a subway construction site in southern China collapsed on...

Photos China’s new supergun can make the West’s defences obsolete

BEIJING, China - A weapon that China has recently unveiled is reportedly capable of making the West’s defenses obsolete. ...

Photos China, Iran, Russia thrash U.S. over its new nuclear policy

BEIJING, China - After the Pentagon confirmed its plans of diversifying the American nuclear arsenal, which is considered to be the...

Photos Chinatown the cultural heart of Lunar New Year Festival

Chinatown will be at the heart of Sydney's 2018 Chinese New Year Festival, with the precinct set to come alive with a host of...

Photos Over $46 billion lost to premature cancer deaths in BRICS economies

31 January 2018 -- Premature deaths as a result of cancer is costing major emerging economies tens of billions of dollars a year, a new...

Photos Weibo forced to suspend for spreading obscene content

BEIJING, China - China’s internet watchdog has said that the social media site Weibo has been ordered to suspend several of its...

Photos Hong Kong, Sydney named the world’s most unaffordable cities

SYDNEY, Australia - A survey ranking the world’s more unaffordable cities has placed Hong Kong, Sydney right at the top, amongst...

Photos Kara Wai to Receive Excellence in Asian Cinema Award

HONG KONG - Hong Kong actress Kara Wai says she is ecstatic over receiving this year's Asian Film Awards' Excellence in Asian...

Photos After eight years, Google to relaunch map service in China

BEIJING, China - Nikkei has confirmed that after an eight-year absence, Alphabet Inc's Google will relaunch its map service in...

Flying Reimagined

Stock Index

Wednesday, May 23, 2018

Life Style

Photo Gallery

FEUILLETON