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The U.S.-China Trade War And Global Economic Dominance

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U.S. President Donald Trump speaks to reporters after a phone conversation with Mexico’s President Enrique Pena Nieto on trade in the Oval Office of the White House in Washington, DC on August 27, 2018. President Trump said Monday the U.S. had reached a “really good deal” with Mexico and talks with Canada would begin shortly on a new regional free trade pact. (Photo: Mandel Ngan/AFP/Getty Images)

Why is U.S. President Donald Trump willing to negotiate and compromise with Mexico and the EU on trade, and not China? The answer, in short, is that Trump’s dispute with China is more than just America’s trade deficit. It is a head-to-head struggle between an incumbent superpower and a rising challenger, fueled by a deep conviction among the White House’s economic policy team that America’s problem with China is not just the trade deficit, but China’s very economic structure itself, which disadvantages foreigners not only in trade, but also in investing and operating in China, and distorting business competition in favor of Chinese companies.

In Trump’s crosshairs is the Made in China 2025 initiative, announced in 2015 aiming to upgrade comprehensively within a decade China’s industrial production, especially in manufacturing, to be among the best in the world. It is therefore being seen increasingly in the U.S. as a direct challenge to its global economic dominance. In fact, the Council on Foreign Relations, a U.S. policy think tank, stated in 2018 that “[Made in China 2025] is a real existential threat to U.S. technological leadership.”

China is indeed snapping at the heels of the U.S. in closing the technology gap. According to the UNIDO Competitive Industrial Performance Database, the share of exports that can be considered medium/high tech in 2016 is 63% for the U.S. and 58% for China. This is getting uncomfortably close for the U.S. China clearly has come a long way from the days of exporting low-tech, labor-intensive exports like garments and shoes.

Consequently, Trump’s trade war with China is really about blocking, or at least slowing down, China’s technology upgrade and its expanding global economic influence. Chinese investment in the tech sector in the U.S. has come under tougher scrutiny, and American government agencies are put on high alert against Chinese efforts in industrial espionage. The clause of protecting national security in the U.S. Trade Act of 1974 is increasingly invoked to impose new tariffs on Chinese imports and to curtail China’s business mergers and acquisitions in the U.S.

However, the tactics with which the Trump trade war is being fought to block China’s technological advances will fail. Trump and his economic advisers are stuck in the old paradigm of industrial production where trade and industry secrets are recorded in design blue prints, instructions and protocols that are locked up in a safe. In today’s modern economic production, the more complicated and high value-added the task, the more important is tacit knowledge, or knowhow, which resides only in people’s brains, especially in knowledge and capital intensive industries like banking and finance, biotechnology, aerospace, nanotechnology and artificial intelligence.

Knowhow is everything that we need to know but find hard to explain. Skiing is a knowhow. We learn how to ski by skiing with good skiers, not by studying the physics of skiing. The only way to acquire knowhow is to have the opportunity of working alongside people who already have such knowhow. In this connection, as Trump’s trade war makes it increasingly difficult for American businesses to export to China, they will need to move more of their operations to China to produce locally in order to sell their goods and services in one of the fastest growing consumer markets in the world. And that means more American brains with high grade technical and management knowhow will be spending more time in China, offering more opportunities for their Chinese colleagues and employees to work alongside them to acquire their knowhow.

In 2017, the value of products that American companies made and sold in China was estimated at $250 billion, about double that of U.S. exports to China, according to the IMF Direction of Trade Statistics  This is a consumer market that is growing at 14% a year, about four times faster than the U.S. In the next few years, it is set to bypass the U.S. to become the world’s largest consumer market. This is not a market that global companies can ignore. If the only way to sell more in this market is to move more production there because of Trump’s trade war, that’s what global companies will do. And that in turn means creating a great deal more opportunities for China to acquire valuable American knowhow that is critical to upgrading China’s technology, helping Made in China 2025 to succeed.

The only way for President Trump to stop China from acquiring American technological knowhow is to bar all Americans traveling to and working in China. This is not going to happen. His trade war is making it more necessary for more American brains with the knowhow that China needs to spend time in China. We are conditioned to think only that leadership is critical for countries to rise and succeed. The fact of the matter is that leadership is equally important for countries to fail and decline. President Trump will be seen in history as a pivotal leader that seriously undermined America in its struggle against China for global economic dominance.

Hi. I am Muhammad Mubeen Hassan. I am SEO Expat and Wordpress Websites Developer &  Blogger. 30 years old. I help entrepreneurs become go-to in their industry. And, I like helping the next one in line. You can follow my journey on my blog, for list Click Here If you need any post so you can email me on my this Email: mubeenh782@gmail.com  

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Business

What is an Ultrasound Tech Salary?

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The job of an ultrasound technician can be a thrilling one. It is a promising career with high pay and advantages. A lot of technician schools offer training programs for the area. If you take the time to obtain a degree or certificate in the ultrasound field, you’ll be able to earn an income worth the effort and time.

HOW MUCH DOES AN ULTRASOUND TECHNICIAN MAKE

Ultrasound salary rates are far more competitive than the majority of the positions in allied health. Some markets pay over $65,000 in this position. An ultrasound technician can expect to earn a median annual pay of $63,640 for diagnostic medical Sonographers as of May 2009, as per the Bureau of Labor Statistics.

The salary may vary based on the kind of job setting. For instance, the median annual income in 2009 for employees working in doctor’s offices was $63,820. For hospital workers, it was $63,770. The salaries can also differ according to state and clearly by country. Similar to other occupations, ultrasound wages are less for entry-level employees and higher for those in higher-paying posts. If you earn greater than $65,000 per year and 55 percent are over 50, as well as 22 percent are under 30, According to the Society of Diagnostic Medical Sonography.

GET REGISTERED AND MAKE MORE MONEY

Technicians can expect less money even if they’re not certified by the American Registry of Diagnostic Medical Sonographers (ARDMS). However, the bottom 10% of technicians earn the least money, equivalent to $ 43,990 a year, and the higher 10% earn $85,950 yearly. Pay is also contingent on the number of specificities the technician holds. The more specialties the technician has, the more lucrative the salary. Employer, certification/education, or background may also affect the ultrasound salary. Hospital employees make $63,770 a year.

Doctors employ the second highest number of ultrasound techs in their clinics, and 13,290 technicians earn $63,820 annually. Diagnostic and medical labs use the third highest number of technicians, i.e., approximately 4,680. They pay each one $61,820 of them each year. Schools that teach pay roughly $66,000.

ultrasound

ultrasound

WHERE DO YOU LIVE

Furthermore, geographic locations are also a significant factor in determining how much pay a technician can earn. For example, Massachusetts has the highest ultrasound technician’s salary, around $78,460 annually. Oregon is almost identical, with a salary of $78,320. Colorado is third with approximately $77,380 annually. The need for technicians is huge in not developed states, while jobs have attained a saturation point in more developed states.

If a technician wishes to make the most money, it is recommended that they join those firms that offer employment services. They could earn as much as $68,000 or more annually. Enterprises and management companies offer the second highest pay, $67,890 per annum. Outpatient centers earn $64,560 annually, while educational schools have a salary of approximately $66,000. The structure of wages is also influenced by the environment in which the technician works, the workload the technician is responsible for on their own, and the company’s size. Experience in the field is significant to the average salary.

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