David Rubenstein: US-China trade dispute is a ‘skirmish, not a war’

“The U.S. and China will eventually be able to come to a trade deal, according to private equity billionaire David Rubenstein,” Huileng Tan reports for CNBC. “‘My view is this trade dispute will be more of a skirmish, not a war,’ Rubenstein told CNBC on Tuesday at the Barclays Asia Forum in Singapore.”

“‘I think there will be a resolution not unlike what happened in NAFTA. There was a back-and-forth, but ultimately a resolution occurred,’ said Rubenstein, who is also co-founder and co-executive chairman of The Carlyle Group,” Tan reports. “The tit-for-tat tariffs are ‘relatively modest’ compared to the sizes of the U.S. and Chinese economies on their own, he added.”

“‘I think it’s a bit of a mistake to worry too much that we won’t be able to come together with China. I think the United States administration wants to reach a deal and the Chinese want to reach a deal,’ he said,” Tan reports. “‘Obviously, what is said in public might not be what is really said in private, so I’m confident at some point this will come together,’ said Rubenstein.”

Read more in the full article here.

MacDailyNews Take: As we wrote back in August:

The tariffs are not the end game. They are bargaining chips and, due to the trade imbalance, the U.S. has 376 billion more chips with which to play than China ($506B – $130B). Hence the empty rhetorical threats from China’s state-run media. China’s running out of chips already.

This initial negotiation phase too shall pass. The end result will be better than the starting point.

I’m cognizant that in both the U.S. and China, there have been cases where everyone hasn’t benefited, where the benefit hasn’t been balanced. My belief is that one plus one equals three. The pie gets larger, working together. — Apple CEO Tim Cook, March 24, 2018

At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment. — Thomas Sowell, June 14, 2006

SEE ALSO:
Trump administration to spare some Apple products including Apple Watch, AirPods, and HomePod from latest China tariffs – September 17, 2018
China’s stock markets down as President Trump said to ready new tariffs – September 17, 2018
Cramer: Here’s why China won’t boycott Apple as part of its trade war with the US – August 7, 2018
Apple could be used as a ‘bargaining chip’ in the trade war, Chinese state-run media warns – August 7, 2018
Why the US-China trade war may not have much impact on Apple – July 17, 2018
Apple launches $300 million China Clean Energy Fund – July 13, 2018
What trade war? Markets shrug off US-China dueling tariffs – July 6, 2018
U.S. President Trump puts tech in trade war crosshairs with planned curb on China investment – June 25, 2018
The Trump administration told Apple it would not place tariffs on iPhones assembled in China – June 19, 2018
Chinese stocks end at 2-year low, Apple suppliers sink on trade-war concerns – June 19, 2018
Why Apple CEO Tim Cook is acting like tech’s top diplomat – June 18, 2018
Apple CEO Tim Cook doesn’t expect a full-blown trade war between the U.S. and China – June 5, 2018
President Trump and Apple CEO Cook meet at White House with trade the focus – April 25, 2018
Apple CEO Cook to meet with President Trump – April 25, 2018
Why Apple stock can withstand a Chinese trade war – April 5, 2018
Apple CEO Tim Cook heads to China as President Trump orders 25 percent tariffs on up to $60 billion in Chinese imports – March 23, 2018
BoA Merrill Lynch: Apple is prepping a ‘foldable’ iPhone; U.S. and China trade tensions not an issue for Apple – March 23, 2018
Designed in California. Assembled in China. How Apple’s iPhone skews U.S. trade deficit – March 21, 2018
President Trump blocks Broadcom-Qualcomm deal over China concerns – March 13, 2018
Elon Musk sides with President Trump on trade with China – March 8, 2018
Analyst: President Trump’s tariff impact on Apple would be just a ’rounding error’ – March 7, 2018

12 Comments

  1. Donald Trump is like sleeping with your daughter. oops, he already does that. criminal, traitor, con man narcissist, and daddy makeup artist.

    We’re after you. it aint gonna be pretty.

  2. In reference to MDN’ “Take”…

    I just want to point out that ripping babys from their parent’s arms and putting them in cages, with some never to see their parents again, is not the end game either.

    And of course lavishing praising Duwarte, Gadhafi, Mussolini, Saddam Hussein, Kim, Putin and other murderous dictators while denigrating the leaders of our world allies is not the end game either.

    And of course, twitter-hammering the democracy destroying idea that “the free press is the enemy of the people”, is not the end game either.

    And of course voluminously spewing lies at every turn and using every technique available to maximize the blurring of lines between truth and deceit in order to confuse and divide the citizens and to corral constituents, is not the end game either.

    And of course publicly denigrate any detractor, critic, woman, racial group, or democratic institution that shines a light on His monstrous behavior is not the end game either.

    And of course filling cabinet positions, other government positions, and generally surrounding himself with corrupt, self serving criminals, and con men is not the end game either.

    And of course cowering submissively on the world stage in Helsinki to pledge his allegiance to Master Putin over his allegiance to America is not the end game either.

    And appointing a corrupt, mysogenistic, drunk to the Supreme Court to assure that the pig will not experience reprocussions when he is convicted or attempts an permanent authortarian power grab, is not the end game to either.

    Oh wait,…Yes it Is!

    I can’t wait until America is Made Great Again…it’s just around the corner.

    1. I can’t figure out who you’re talking about: Trump or Obama.

      Babies in cages: during Obama administration

      Praising dictators: Obama (Hell, he posed with Castro in front of a tribute to murderer Che Guevera).

      Twitter-hammering: Trump

      Spewing lies: Obama (“you can keep your doctor,” “it was a youtube video).

      Denigrate detractors: Obama and Trump

      Corrupt cabinet: Obama (Eric Holder lied to Congress, was found in contempt yet Obama kept him and praised him, Hillary sold US uranium to Russians for $145 million to the Clinton Foundation).

      Drunk to Supreme Court: must be Obama (likely Sotomayer). There is zero evidence that Kavanaugh is misogynistic (hell, he has an all female staff) or a drunk. Only a liar would make such a claim.

      1. MDN and its commenters remind us once again that this site no longer reports Mac news or tips.

        Barry: every politician lies. It just happens that your orange hero has made a lifetime career of it. I suppose that you’ll blame the forthcoming Trump economic crash on Obama. You know that the path Trump wants to follow is totally unsustainable. Just like his many failed businesses, all inherited from Fred Trump through illegal and immoral business practices. Now get back to your Mac, if you even own one.

        1. Hey Mike, I agree with you. I would prefer that this site was just about the discussion of all things Apple. Unfortunately that ship has sailed, and the captain of that ship is MDN. MDN continues to write articles with provocatively political headlines and content. I will stop making political comments when MDN goes for a year without lighting a political fire.

      2. Hey Barry,
        Baby’s in cages- both Obama and Trump – both wrong!!
        —————-
        Praising dictators. Obama did in fact speak on stage beside Raul Castro while speaking about mending relations with the Cuban people. But during the dialog, Obama rightly criticized, NOT PRAISED, Castro’s regime and the Cuban government’s civil rights record right to Castro’s face which made Castro become loud and defensive and resulted in Castro grabbing Obama’s wrist and raising Obama’s arm in an artificial gesture of solidarity.

        Obama’s body language with the limp hand clearly displayed that Obama was not on board with any murderous dictator.

        Trump, on the other hand, has decisively praised numerous dictators. Are you saying that this is the same thing that Obama did???

        Do you think that Obama in any way actually ever praised a dictator? If so, you are a liar and are making a deliberately false equivalency here, Barry.

        So Barry, lets get back to the actual act of praising dictators that Trump undeniable did, and continues to engaged in, dictators for whom he still holds in high regard, and has even, in one instance, declare love for. Do you not think that such statements Trump has made are dangerous for our democracy, Barry?

        Trump has even made extremely scary authoritarian aspirational statements like the one about Xi Jinping’s maneuvers to become permanent leader of China saying maybe we could try that in the US!

        Barry, do you think it is in any way excusable for a US President to make such statements and send such messages? Do you think such statements are aligned with American values.

        I mean, my god, Barry, is that really something you want our president you aspire to?!! If so, you are rejecting the very premise of the Declaration of Independence and the US Constitution our founding fathers created. You are in effect spitting on everything they stood and died for.

        —————
        On your next point, Barry, you simply type: “Twitter-hammering: Trump”

        This completely deflects from the actual point I made.

        The actual point: Trump hammering the dangerous Trump/Hitler/Stalin/(insert any dictators name here), idea that:

        “The Free Press is the enemy of the people!”

        Does this not alarm you, Barry?!! To make such a state statement in America, by a sitting president no less, is nothing short of denigrating the very ideals of American society!!

        Every true American understands that the free press is THE CORNERSTONE of a free America! Barry, can you not recognize “dictator speak” when you hear it? If not, you do not belong here even though I would fight to the death for your right to be here and spew stupidity.

        ————-
        Spewing of lies- Are you seriously equating a single incorrect statement by Obama about Obamacare to the actual spewing of lies that daily emanate from the Whitehouse? Duh?

        Barry are you really so passionately wanting whatever it is that you want so badly, that you just give a pass to a sitting President of the United States to tell literally thousands of blatant, easily fact-checkable lies to the American people?

        Do you believe that such lying is representative of the character required to be a US President? Well, do you Barry? Pathological lying is okay with you, Barry? Is it, Barry? Is it okay? Answer me, Barry, is it okay for the President to be a pathological liar?
        ————-
        Denigrate detractors? Obama = Trump?
        Again Barry, where is the equivalent here? What the hell are you farting out of your ass?

        Trump doesn’t just respectfully ignore or rebut a critic as, Obama, would, but instead makes every effort to abuse and abuse and abused any and all individuals that would reasonable disagree. He will lie, make stuff up, call people names, destroy careers, or even steal a persons life-earned benefits in retaliation to even the mildest criticism.

        Did Obama do any of this stuff? No.

        Again, this is exactly the behavior of a dictator, Barry. Don’t you see it?
        ————————-
        Corrupt Cabinet?
        Again, are make an equivalent comparison between Obama and Trump here?!! Really?! That’s just laughable!

        Trumps administration is the most corrupt in American history.
        Shall we list Trump’s “greatest” and “best” people?
        Here are the current indictees:
        Rep. Chris Collins, Corey Lewandowski, Paul Manafort, Rick Gates, Michael Flynn, George Papadopoulos, and Michael Cohen.

        Here are just some the future indictees:
        Jared Kushner, Donald Trump Jr., Donald Trump.

        But you’re right, Barry, if you think they will go free, because now trump and his lackeys have succeeded in placing Kavanaugh in the position to dismiss all of the administrations misdeeds.

        Corrupting the judicial system is a critical maneuver require by all would be dictators.
        ———————
        Barry, I noticed, that you skipped over Trumps sickening and traitorous submission to Putin in Helsinki. But I know in your heart, you are okay with that too.

        ——————
        Kavanagh

        So you’re saying Kavanaugh, not a drunk, not a misogynist; Justice Sotomayor, a drunk? Wha?

        There is ample number of indicators that Kavanaugh sexually assaulted women, engaged in Devil’s Triangles with non consenting women, drank to blackout and puking. Etc.

        So, yeah, Barry, in spite of Trump and his vile republican lizards railroading Kavanaugh into the Supreme Court, ignoring the witnesses and victims of his behavior, and despite Kavanaugh perjuring himself under oath before congress, Kavanaugh is a lying, white, male, misogynist, drunk.

        But, Barry, that is okay with you, right?
        ————-
        Barry, this man you are so fervently defending is attempting to end the great American experiment, and transform our nation into an authoritarian state with severely limited freedoms. He is following the path of almost every dictator before him: he is dividing Americans using extreme rhetoric, vilifying whole groups of innocent people, attacking and corrupting our judicial system, undermining our free press, framing dictatorship in a positive light, confusing his base into thinking our friend are our enemies and our enemies our friends, demeaning the difficult struggle of women, encouraging white supremacy, etc.

        That’s what is happening, Barry. And if you defend this president, you show that you are either in favor of transforming our nation into an autocratic society, or you are just too easily influenced by the master con man, or you’re just too stupid to see it.

    2. “I can’t wait until America is Made Great Again…“

      Either you are sleeping or totally ignorant. President Trump has already done that with several economic records and some numbers we have not seen like unemployment at a 49 year low.

      Anyone that posts 100% negativity about anyone is not objective and blindly partisan. We get enough of that from Hillary and the Democrats..,

    1. You are living in the past. China doesn’t need the USA as much as the USA needs China. The USA has become fat and lazy (over 30% of the population obese, well over 20% have diabetes). Formerly industrious generations of Americans have given way to opiod addicts, nasty social media backstabbers, low skilled gig economy media junkies and gamers. Almost all consumer stuff requiring human labor, and 99% of Apple hardware, is made in China. They work harder for less money. Rather than competing on quality or value, USA voters chose a president who is hiking up taxes on consumers, via protectionist tariffs. So much for competition. Trump offers nothing. The USA will be losing their shirts to countries that want to trade. In the end, it will be just like NAFTA v2.0, all rhetoric and no substance. Then Trump will find another artificial crisis to create.

    2. Yes, the president is working on just that. He remade NAFTA after much back and forth between the nations for months. Negotiations certainly take time and he is juggling so many other balls in the air at the same time. No matter, he loves it…

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