‘I Don’t Think China Ever Wanted a Deal’: (US) Retired General Robert Spalding

[TomSea]

Excerpt:

‘I Don’t Think China Ever Wanted a Deal’: Retired General Robert Spalding

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Ms Gao: What will be the ramification of the US designating China as a currency manipulator?

Mr. Spalding: I think the ramifications are mostly symbolic. I think it follows through on something that the president said in his first campaign for the presidency. And so it actually is a fulfilment of a promise that he made during the campaign that essentially all of these things that he has been very deliberate in terms of waiting to become incrementally tougher on the Chinese Communist Party is because he believed that there was an agreement that could be made. And so in the interest of essentially creating the environment that would allow for an agreement to be made, he was very deliberate and slow in terms of implementing progressively more strength and penalties to them for not coming to an agreement. And so I think clearly their large movements to lower the RMB exchange rate to the dollar really prompted him, after increasing tariffs, really prompted him to go ahead and make that announcement.

Ms. Gao: Now escalatory actions have been taken on the most senior level on both sides. What do you think will happen next to the US-China trade war?

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