This is what a Bernie Sanders China deal should look like:
Share to linkedin... [+]The phase one trade deal with China is done. It’s the first time Washington and Beijing have agreed on anything in writing regarding terms of trade and competition.
An avowed socialist, he can care less about Wall Street. In a weird way, a Sanders presidency would pit two communist-minded managers against each other. None of this is easy, including for Trump. No president can demand another country invest in it. At best, a U.S. president can make it less attractive to invest in China. Trump did this with a combination of sanctions, tariffs, tax cuts and regulatory rollbacks that made doing business in the U.S. cheaper.
If Trump is right, and China does spend upwards of $100 billion a year for the next two years in buying U.S. manufactured goods, then the trade deficit will decline and we will something more like a two-way street in terms of trade. Most likely, though, Sanders will not care about China investing in Wall Street, which would be another boon to American retirement funds, and to corporations who can do all sorts of things with that extra capital, from dividend payouts to investing more in growth .
“The first-phase trade deal will revolve primarily around Chinese purchases of U.S. agricultural products but will also incorporate the strengthening of China's intellectual property framework and the liberalization of its financial sector,” notes Agathe Demarais, global forecasting director for The Economist Intelligence Unit.
“The victory rings hollow for both sides,” says Weijan Shan, CEO of the PAG Group, a private equity firm. Shan thinks China IP laws are improving.... [+]
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