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Possibility of a Trade War between United States and China, after US Electoral College confirms Donald Trump’s Presidency
Beijing, Dec 21, 2016: The possibility of a trade war between the United States and China loomed large over the horizon after the U.S. electoral college confirmed Donald Trump’s presidency on Monday. China is expected to take a series of defensive and retaliatory measures to counter any U.S. moves to restrict the role of Chinese goods and currency movements in the American economy, as Trump has promised to do.
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“In the event of a trade war with the United States, China’s response would go well beyond tariff increases,” said Mark Williams, Chief Asia Economist for Capital Economics. “U.S. companies would find their products and operations in China subject to tighter regulation that hampered their capacity to do business there.”
“U.S. exports of cars and aircraft would be in the firing line,” he said. China might also subject U.S. companies to tighter regulation that hampers their capacity to do business. Beijing may also encourage its exporters by offering tax rebates to overcome any reduction in export demand in the U.S., Williams said.
In informal discussions, Chinese officials say there is a lot of uncertainty about how the new U.S. president will handle relations with China, and preparations are being made to deal with varied scenarios.
WATCH: China Assesses Future Relations With US Under Trump
Mixing politics and economy
In the past, China has responded with trade restrictions on several countries for political reasons. For example, Norway for awarding the Nobel Peace Prize to a dissident writer or giving a visa to Tibet’s Dalai Lama. Trump’s recent tweet questioning the One-China policy concerning Taiwan has already caused a stir in the Chinese Communist Party.
Talking about investments by China’s companies in the United States, Trump recently said, “They haven’t played by the rules, and I know it is about time they are going to start”. Some members of the U.S. Congress have also called for a review of the policies concerning Chinese investments.
This elicited a strong response from Wang Jianlin, China’s richest man, who acquired movie studios and other properties in the United States. He says restricting Chinese companies would hurt American jobs instead of helping the country. Wang said he has invested $10 billion and employs 20,000 people in the United States, who will have “nothing to eat” if restrictions are placed on Chinese businesses.
During the election campaign, Trump also promised to declare China a currency manipulator. The Chinese yuan has considerably devalued, owing to market pressure. Analysts are divided on whether he would still go ahead with his threat after the recent devaluation.
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“I am sure that the U.S. under Trump will focus unrelentingly on the exchange rate,” Kerry Brown, Professor of Chinese Studies and Director of the Lau China Institute at King’s College, London. “It is a huge anomaly in the 21st century that the world’s second biggest economy does not have a market set exchange rate … In that sense, China is really a freeloader, in the eyes of its American opponents, and they will want to see a quick move to rebalance the Chinese currency, and do something about this anomaly”.
US business concerns
More than 1,500 Chinese companies established operations employing 80,000 workers in the United States, according to the American Chamber of Commerce in China.
U.S. businesses operating in China have their own fears of moves that cause instability to trade and investment relationships.
“Isolating or penalizing China will not serve America’s interests, and only with engagement and commerce will the two largest economies of the world make progress to reach a consensus on contentious issues such as national and regional security, market access and industrial policies, internet censorship, cybersecurity, and terrorism,” James Zimmerman, chairman of AmCham, China told VOA.
“We do indeed recognize that talking tough is a lot easier than thinking tough and making tough decisions, which is what presidents actually have to do,” he said adding, “The chamber has long supported maintaining stability in the region, and we expect the new U.S. administration to respect the status quo”.
Who suffers most in the case of a trade war? China would be the first to be hit, and more severely because the United States is a major market for Chinese goods. America buys three times more than what it sells to China.
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But Beijing can take solace in the fact that Trump would end up hurting the American consumer if he imposed a 45 percent duty on Chinese goods, as he has promised to do.The most important items in the Chinese export basket are mobile phones, tablets/laptops and network equipment. A higher tax on these goods would ultimately be paid by U.S. consumers, Williams of Capital Economics said.
Williams does not see the incoming President slapping the 45 percent tax on Chinese goods as he had promised, but hostilities can break out anytime, he warns. (VOA)
The symbol of Swastika is known to signify peace, prosperity, and good fortune in the religious cultures of Eurasia. In fact, this symbol is considered very significant in Hinduism, Buddhism, and Jainism. But, at the same time, it has become one of the most misunderstood religious symbols and has been globally banned in many countries.
The reason why the symbol of Swastika is banned in many countries is because of its association with Adolf Hitler's extreme political ideology, Nazism, as Swastika as its official symbol.
Austria, France, Latvia, Spain, Germany, and Russia are amongst the many countries that have banned the display and use of the Swastika.
Moreover, last week Victoria in Australia is preparing to become the first-ever state to ban the public display of the Swastika. This is a step towards an expansion of anti-vilification laws in the state.
Representation of the Swastika on the flag of Adolf Hitler's Nazi Movement.Photo by Flickr.
Now, we must know and understand what went wrong with this symbol, which is sacred and signifies all-good things.
For a very, very long time, in India, the Swastika is the first emblem that is worshipped or even drawn before any sacred and auspicious ceremonies as this symbol in Sanskrit represents 'well-being'. But, the Swastika lost all its credibility when it was wrongfully used by Adolf Hitler.
In fact, it is believed that if this symbol is worshipped properly, then it gives positive results. But if it is abused, then it gives negative results. So, when Adolf Hitler rotated the Swastika at 45 degrees, it slowly and steadily brought misery not only to Adolf Hitler and his theory of Nazism but also to all the people who were associated with him.
Therefore, in order to give the kind of respect and credibility which the Swastika deserves, World Interfaith Harmony Week which was held in New York in February this year, interfaith groups appealed to the United Nations to recognize and acknowledge the Swastika as an important and peaceful symbol. In fact, they also differentiated it from the Hakenkreuz or "Hooked Cross" of Adolf Hitler.
India celebrated a historic day on August 7, as 23-year-old Neeraj Chopra became the first Indian to win an Olympic gold medal in athletics. In the men's javelin throw event, he achieved his greatest triumph, throwing the javelin 87.58 meters on his second try.
Neeraj Chopra was born on December 24, 1997, in Khandra village in Haryana's Panipat district. He grew up in a Haryanavi family of farmers. He is the brother of two sisters. He graduated from Dayanand Anglo-Vedic College in Chandigarh and is now enrolled in Lovely Professional University in Jalandhar, Punjab, pursuing a Bachelor of Arts degree. Chopra was bullied due to his obesity as a kid, which prompted his father to enroll him in a nearby gym. He then joined a gym in Panipat, where Jaiveer Choudhary, a javelin thrower, noticed his potential and coached him. When the 13-year-old Chopra finished training under Jaiveer for a year, he was enrolled at the Tau Devi Lal Sports Complex in Panchkula, where he began training under coach Naseem Ahmed.
In 2018, he broke the world record in the javelin throw and became India's first-ever gold medalist in the javelin throw. He is also a laureate of the Arjuna Award for 2018. | Wikimedia Commons
Chopra's first international medal came in 2014, as he took home a silver medal at the Youth Olympic Qualification Tournament in Bangkok. In 2015, he set a world record in the junior category of 81.04 meters in the 2015 All India Inter-University Athletics Meet.
Since emerging into the public eye with a historic gold medal at the junior world championships in 2016, he has maintained a high level of performance, setting an Under-20 world record of 86.48m, which still stands. Gold medals in both the 2018 Commonwealth Games and the 2018 Asian Games are among his other accomplishments, including a first-place in the 2017 Asian Championships. In 2018, he broke the world record in the javelin throw and became India's first-ever gold medalist in the javelin throw. He is also a laureate of the Arjuna Award for 2018.
Chopra has also had his share of bad events in life. In 2019, he underwent surgery on the elbow of his right throwing arm, which kept him out of the game for almost a year. However, he returned more robust than ever. In November 2019, he went to South Africa to train from Klaus Bartoneitz. He spent the following year in India training at the NIS Patiala because of the COVID-19 pandemic. He was allowed to go to France with his coach after weeks of trying to get a travel visa.
Neeraj Chopra made history in the 2020 Tokyo Olympics by becoming the first Indian to win a gold medal in athletics. Also, it is worth mentioning that after Abhinav Bindra, Chopra is only the second Indian to win an individual gold medal.
Keywords: Neeraj Chopra, Olympics, Tokyo2020, Gold medal, javelin, India, Haryana
The emergence of the Industrial Revolution in Victorian England brought with it many apprehensions and fears that translated into a new genre in literature: the gothic. Today, the idea of the gothic does not have to much with literature as much as it is associated with fashion.
The Victorians began to wear black more often during the Industrial Revolution to hide the stains of soot on their clothes. Many of the working class were employed in factories. They were newly introduced to technology, the idea of coal as fuel, and the working of machines to serve a certain purpose. This kind of work was hard and messy. Wearing light colours burdened the tired folk when the stubborn stains did not get washed away.
The steam engine was invented to make locomotion easier for the masses, but it brought fear to the people. They had led quiet and simple lives till now, and suddenly their world was infiltrated with loud noises and smoke. Dark places became synonymous with evil deeds and mysteries. It was from this time that horror gained a place in the imaginations of people and artists.
A man sporting gothic clothes and shock coloured hair Image source: wikimedia commons
The gothics of today are those who have held on to these practices. There is no need to fear smoke and noise anymore, but the goths wear black clothes all the time, paint their skin a pale shade, to contrast their clothes, and wear bright shades of red. The traditional gothics decorated themselves with jewellery bearing religious significances, as the belief in Dracula and vampires emerged in the Victorian period. Today, it is a trend to wear studded crosses, or crosses made of black metal either as neck chokers, or earrings.
Modern goths also wear bright monotones to show their patronage of a certain style or order of the goths. They can be seen in neon shades of green, pink, and yellow, often sporting piercings, and matching hair. Their tastes are metallic, and they have an uncanny love for tattoos.
Designers consistently include gothic tastes and styles in their clothing lines to create inclusivity for this subculture. Being gothic, or identifying with them is somewhat a concern even in today's society, and such people are often stigmatised to the extent that it is considered a mental illness associated with the dark arts. The phenomenon is mostly observed in teenagers, and often phases out when they reach adulthood, depending on their sphere of influence.
Keywords: Gothic, Fashion, Victorian, Black, Jewellery