REUTERS: U.S. President-elect Donald Trump named Peter Navarro, an economist who has urged a hard line on trade with China, to head a newly formed White House National Trade Council, the transition team said on Wednesday.
Navarro is an academic and one-time investment adviser who has authored a number of popular books and made a film describing China's threat to the U.S. economy as well as Beijing's desire to become the dominant economic and military power in Asia.
Trump's team praised Navarro in a statement as a "visionary" economist who would "develop trade policies that shrink our trade deficit, expand our growth, and help stop the exodus of jobs from our shores."
Trump, a Republican, made trade a centerpiece of his presidential campaign and railed against what he said were bad deals the United States had made with other countries. He has threatened to hit Mexico and China with high tariffs once he takes office on Jan. 20.
Navarro, 67, is a professor at University of California, Irvine, and advised Trump during the campaign. He has authored several books including "Death by China: How America Lost its Manufacturing Base," which was made into a documentary film.
As well as describing what he sees as America's losing economic war with China, Navarro has highlighted concerns over environmental issues related to Chinese imports and the theft of U.S. intellectual property.
While Trump in the statement praised the "clarity" of Navarro's arguments and the "thoroughness of his research," few other economists have endorsed Navarro's ideas.
Marcus Noland, an economist at the Peterson Institute for International Economics, likened a tax and trade paper authored by Navarro and Wilbur Ross, who has been named as Trump's commerce secretary, to "the type of magical thinking best reserved for fictional realities" for what he said was its flawed economic analysis.
'DON'T POKE THE PANDA'
Navarro has also suggested a stepped-up engagement with Taiwan, including assistance with a submarine development program.
He argued that Washington should stop referring to the "one China" policy, but stopped short of suggesting it should recognise Taipei, saying: "There is no need to unnecessarily poke the Panda."
China considers Taiwan a renegade province and has never renounced the use of force to bring it under its control.
China's foreign minister Wang Yi said in an interview carried on Thursday in the Communist Party of China's official newspaper that China-U.S. relations face new uncertainties but with mutual respect for core interests they will remain stable.
"Only if China and the United States respect each other and give consideration to other's core interests and key concerns can there be long-term, stable cooperation, and effect win-win mutual benefit," Wang said.
After his Nov. 8 election win, Trump stoked China's ire when he took a telephone call from Taiwanese President Tsai Ing-wen in a break with decades of precedent that cast doubt on his incoming administration's commitment to Beijing's "one China" policy.
In an opinion piece in Foreign Policy magazine in November, Navarro and another Trump adviser, Alexander Gray, reiterated the president-elect's opposition to major trade deals, including the Trans-Pacific Partnership.
"Trump will never again sacrifice the U.S. economy on the altar of foreign policy by entering into bad trade deals like the North American Free Trade Agreement, allowing China into the World Trade Organization, and passing the proposed TPP," Navarro and Gray wrote. "These deals only weaken our manufacturing base and ability to defend ourselves and our allies."
Trump has vowed to pull the United States out of the TPP, a free-trade pact aimed at linking a dozen Pacific Rim nations that President Barack Obama signed in February. It has not been ratified by the U.S. Senate.
The president-elect has also vowed to renegotiate the NAFTA pact with Canada and Mexico, saying it had cost American jobs.
(Reporting by Eric Beech in Washington; Additional reporting by Mohammad Zargham and David Chance in Washington; Editing by Doina Chiacu and Peter Cooney)
- Reuters
Calvin comments:
This is another step into trade protectionism by Trump.
Be careful not to chase export stocks to US now. Time to switch into:
1) Malaysia own infrar stimulation stock like construction and construction material
2) Govt linked GE14 stocks for year 2017
3) Palm Oil stocks due to El Nino & La Nina
Good luck,
Regards,
Calvin
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U go die better la Calvin...act smart but all your stock 100% go holland...u no die also useless
2016-12-22 17:06
tom when so many ppl hates one fella...must be something bad he did to them lo...
lucky i only read his articles for fun...coz not much analysis there. only funny stories...but hey, some ppl like to read rumors n funny stories...lol
all the best ya
2016-12-22 17:57
top 5 list(updated on 20/12/2016)
=========
1: cpteh
2: stockmammy a.k.a desa bootlicker
3: kyy
4: kcloh a.k.a fortunebullz or mango juice
5: calvintaneng
Posted by RojakInvestor > Dec 22, 2016 05:57 PM | Report Abuse
tom when so many ppl hates one fella...must be something bad he did to them lo...
lucky i only read his articles for fun...coz not much analysis there. only funny stories...but hey, some ppl like to read rumors n funny stories...lol
all the best ya
2016-12-22 18:08
MOst of them are really funny!! I read them as joke or comedy especially cpteh..his writing and topic is so predictable LOLZ... but on this list from TOM got one that love to kiss ass which I really can't tahan.
2016-12-22 19:04
calvintaneng
See this video
https://www.youtube.com/watch?v=mMlmjXtnIXI
2016-12-22 16:33