PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that while the mainstream media seems to think President Donald Trump lost the trade war with China, the biggest loser is China.
“China has lost dramatically, forcing companies to consider other areas of the world to do work,” Celia said. “China has lost market share—not temporarily, but permanently—forcing companies into ramping up responsible diversification, as they have now considered this diversification critically necessary. This is a real problem for China and could impact its GDP growth for years to come. Of course, when mainstream media thinks about wins and losses, they look at it from a political perspective. We need to look at it purely from an economic perspective. This was an economic crisis, not a political crisis.”
Celia added that China’s second-in-command commented that the country is building an even playing field for foreign firms, with Li Keqiang stating from the World Economic Forum in Dalian, China: “Right now we need to let state-owned enterprises, privately owned enterprises and foreign-invested companies, as long as they are registered in China, to be recognized as Chinese companies, all treated equally.”
“This is the warning that should be coming from the State Department,” Celia said. “My assumption is that the real conversation within China went something like this: ‘We need to grow more U.S dependency on us so we never lose another trade war.’”
On his Twitter feed early this morning, Celia also shared a graphic from NOMURA, an Asia-headquartered financial services group, that outlined the top 30 countries benefitting most from trade diversion, along with this tweet:
“Media wrong again. U.S.-China trade war—China has lost. Forcing companies to consider other areas the world. China losing marketshare permanently and forcing companies into ramping up responsible diversification that they have now considered a necessity.”
View graphic and tweet here.
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about more than 650 radio stations and several television networks nationwide.
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