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Republican casino magnate Adelson cautioned Trump on trade war with China: WSJ

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Republican casino magnate Adelson cautioned Trump on trade war with China: WSJ

 

2019-09-22T204431Z_1_LYNXMPEF8L0UD_RTROPTP_4_USA-TRADE-CHINA.JPG

FILE PHOTO: Casino magnate Sheldon Adelson and his wife Miriam listen to U.S. President Donald Trump address the Republican Jewish Coalition 2019 Annual Leadership Meeting in Las Vegas, Nevada, U.S., April 6, 2019. REUTERS/Kevin Lamarque/File Photo

 

WASHINGTON (Reuters) - A top Republican donor warned President Donald Trump in a phone call last month that his escalating trade war with China could hurt his re-election prospects, the Wall Street Journal reported on Sunday, citing people familiar with the call.

 

Casino magnate Sheldon Adelson discussed with Trump the broader implications of the U.S.-China trade war rather than the impact on Adelson's business interests, one of the people familiar with the call said, according to the newspaper report.

 

Adelson, a major donor for Republican election campaigns, is the founder and chief executive officer of Las Vegas Sands Corp <LVS.N>, a casino company that does business in the Chinese territory of Macao.

 

The White House did not have an immediate comment on the report. A representative of Las Vegas Sands Corp did not immediately respond to a request for comment.

 

U.S.-China trade tensions have led to tariffs on much of the commerce between the world's two biggest economies, hitting U.S. factories and farms.

 

While the U.S. economy has looked otherwise strong in recent months, a downturn might weigh on Trump's hopes of winning the November 2020 election.

 

Washington and Beijing are in talks to restructure their trade relations, although a deal has appeared elusive. On Friday, Chinese officials unexpectedly canceled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington.

 

(Reporting by Jason Lange in Washington; Editing by Peter Cooney)

 

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-- © Copyright Reuters 2019-09-23

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39 minutes ago, pegman said:

So who was it that put a gun to the head of Apple and force them to take their technology and manufacture their phones in China!

That one they got for free...millions of potential new customers...other technologies they extorted information as a pre-requisite to doing business...or they just outright stole the technology... 

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1 hour ago, spidermike007 said:

There are some very basic market realities that Trump and his people just do not understand. Globalization is here to stay. They are never going to be able to make America great again. That was a brilliant campaign slogan, but that is all it is. Of course trade wars destroy the economy. Of course the US is feeling the effects of this prolonged trade war. Xi has outplayed Trump at every corner, and every opportunity. Trump is playing right into his hands. Trump will be soundly defeated in 2020, largely due to the trade war, and his complete and utter inability to negotiate his way out of a paper bag. 

 

Agree and IMHO there is a case to say Mr Xi and his team just focused on what's best for China as their strategy. 

 

 

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5 hours ago, zydeco said:

The Kochs and Adelson, two of the most corrupt forces in American politics. One Koch bit the dust last month, wasn't it? Here's to hoping Adelson is soon toes up in the dirt, too.

 

I think the Kochs aren't/weren't Trump supporters, though. No donations to campaign and at least a couple of public/media campaigns sponsored against Trump policies (if for their own agenda) - the Muslim travel ban thing, and the tariffs.

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6 hours ago, Puchaiyank said:

causing tremendous US indebtedness

If you're referring to the huge negative trade balance the U.S. has had for decades with China and growing under the Trump administration - that's not debt.

But China has been a willing partner to lend its U.S. billions through its purchase of U.S. Treasury bonds - that is debt. Under Trump U.S. national debt has surged jumping by $1.36 trillion. The fastest pace since 2012! https://www.bloomberg.com/news/articles/2018-12-12/u-s-debt-under-trump-has-swelled-by-size-of-brazil-s-economy

President Donald Trump said as a candidate in 2016 that he would completely eliminate the national debt within eight years. https://markets.businessinsider.com/news/stocks/us-deficit-tops-trillion-first-time-since-2012-trump-promise-2019-9-1028524507

Hopefully, he won't get the extra 4 years of fiscal failure.

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1 minute ago, Lacessit said:

Many Americans do not understand the pace of development in China. It has thousands of kilometres of new tarmac and rail infrastructure. It has invested heavily in high-speed rail. Chinese steel was absolute <deleted> 40 years ago. It now has some of the most advanced steel mills in the world.

The American obsession with short-term gain is coming back to bite them. One can travel from Beijing to Kunming in the south, or Turpan in the west, Harbin in the north, all on high speed trains. What has America got? About 100 km of Amtrak high speed in the whole of the USA. Decaying bridges everywhere.

The Chinese have always thought long-term. In a trade war, I'm predicting they will win.

Make America Great Again? A BS slogan from a flim-flam man.

 

Have you seen the block after block of brand new empty buildings in China? I have. To a certain extent, its a house of cards.

 

Besides, if the commies want to put a rail line in, they just punch it through a wetland or displace people and dont say a word comrade. Try that in California or down the East Coast.

 

 

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