November 28, 2018

China could outlast USA in a trade war

Doug Kass on the US - China trade war and differences between China and USA level of patience.



Since the Chinese/US trade dispute is on the front burner now, I wanted to repeat these thoughts from a week ago:

"I have written much about trade over the last few weeks - most recently this week's.
What follows is a great quote made in 1972 by Chinese Premier Zhou Enlai - it's something to keep in mind when listening to opinions on the subject of China/U.S. trade.
When he was asked about the impact of the French Revolution (of 1789), he replied "It is too early to tell."
That quote is from sixty years ago.
Unlike many, I believe the Chinese can outlast us in a trade war.

China is a patient civilization. The country takes the long view of history (often measured in hundreds of years)- as expressed in the witty and Oscar Wildean response above by Enlai.

While Americans are focused on 2020, the Chinese are focused on 2120! 

Hardliners in the White House and the dopes on Wall Street don't have a sense of history."



via twitter

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