The real estate deal that turned Trump into a China basher until rein-in by China's President Xi; how Trump was schooled by 2 Chinese real estate moguls http://www.nytimes.com/1994/07/15/business/how-the-chengs-finessed-trump.html?pagewanted=all (the ordeal, aka ass-kissing, that Trump had to endured to get this deal done) http://www.ejinsight.com/20160602-the-hong-kong-deal-that-turned-donald-trump-into-a-china-basher/ In 1994 Trump was on the verge of bankruptcy in the wake of the collapse of the US real estate market. A consortium of Hong Kong billionaires led by Henry Cheng and Vincent Lo came to his rescue. Cheng and Lo agreed to buy Trump's 77-acre property in New York City known as Riverside South, assume his debts and pay him 30 percent of the profits as well as fees for helping to manage the development of the site. To the extent that Trump had already spent huge $$$ developing the project which, at the time, was not yet profitable, the Chinese businessmen got in at a bargain basement price. The project turned out to be very lucrative. After several years of profitability, in 2005, the Hong Kong businessmen sold the development for US$ 1.76 billion, at the time, the largest residential real estate transaction in New York. However, Trump was furious, saying his partners did not consult him first before selling the project. He sued them and demanded US$1 billion in damages. Trump lost the case in a NYC court, and had to accept a 30% share in the profits from the project. moral of the story; buy low, sell high and, most important, out-negotiate others to gain the ability to call the shots. This deal also paved the way for Trump's future dealings w the state-owned Bank of China
Loan and debt can be sold,it's not a major issue. Trump is your typical business man who play by the books, it's expected that his initial pitch will be extremely low or high to set the medium for ground negotiation. He knows that some of what he is saying is outrageous but he is waiting for the other party to respond. I don't think Trump had the intentions to escalate or confront China in the first place, he knows like many,that China own/control other states with their soft power,owning small to medium to large business intites gradually and take control from there,that's the case with almost every South Asian state so far. What's he looking for is quid pro quo for cooperations /not to provoke Japan's arms racing, their economy might not be in the best shape but can effortlessly create their own sophisticated arsenals
nothing can be further from the truth. some eg of Trump not playing by the books hiring illegal aliens for the construction of Trump Tower, paying them below minimum wage and threatening them w deportation if they complain to authorities stiffing contractors, such as carpenters, electricians, waiters/waitresses, mechanics, janitors, etc., or merely paying them pennies on the dollars. Effectively, he dares them to sue him. Unlike the HK billionaires, as referenced in a previous post, the avg worker/proprietor does not have have the financial resources to go thru a law suit. A la "if you lay off China bashing, the Bank of China will not corroborate w the NY Times reporting that you have been conducting business w a Chinese state-owned bank"
you've misunderstood the points, I'm not a fan to anyside but to be clear,I don't think the things you've mentioned means anything significant to Trump répéter de mémoire Every single Global Business MBA program preaches "Business etiquettes and negotiation tactics " along with PESTE,SWAT,Marketing and finance etc. How to do business with Chinese: bring intermediate issues and address the differences before starting Negotiations ,blah blah " [he expressed his concerns over no. of issues before taking office..] How to do business with Japanese: talk about any social topic but business ,trust comes first ,yada,yada .."[he is playing golf with his Japanese body..] That would be the normal process of forming, storming, norming before performing,and after all, China does respect a ruthless negotiater
dachuda86 if you want to recognize Taiwan as a sovereign nation, you would not want this to happen. the imperial chinese gov't, the Qing dynasty, was overthrown by the KMT / RoC. thus, the RoC inherits Qing dynasty's debt. ~38 years later, the KMT gov't was overthrown by the PRC thus, the PRC inherits RoC's debt Should team Trump call on the PRC to honor this debt, effectively, they no longer recognize the sovereignty of Taiwan
That is somewhat false. The pressure is on PRC to admit it is not the legit China if it doesn't want to pay its debts which it won't. The US can back taiwan and reckognize it as a country regardless of it being china or not. No requirements there buddy. We can effectively do what we please outside of what pleases them. But if PRC China wants to claim it is the real china it is then in debt and they likely won't pay. Then the US could very well declare the PRC insolvant if they refuse to pay it and thus cancel a large portion of our debt to them. Simultaneously they can recognize taiwan as a seperate country and continue armying them to the teeth. There are a ton of ways to make compelling arguments to stiff China because China, if the PRC is China, owes a significant amount of money.
actually, the pressure is on the US to make the binary choice whose debt is it, the RoC or the PRC ? if Taiwan is a sovereign nation, it is responsible for the debt inherited from the Imperial Chinese Govt. if it is not a sovereign nation, it is not responsible ur confused. the market has the final say so, not the US nor any other country i've noticed that you have intentionally omit any mentioning of the RoC, who directly inherited the debt from Imperial China's government.
PRC owes the debt. They say there is one China. Let them pay the debt. Doesn't mean Taiwan isn't still a country and that they can't be recognized in the future. The us doesn't recognize them anyway and has unofficial ties only. I think you should refamiliarize yourself with the One China policy. China has two options.. deny it is the true China and not pay or pay the debt. Also this risks giving the US cause to recognize Taiwan if it says it isn't actually THE China and Taiwan is. That is a checkmate scenario regarding very real outstanding debts.
Except that if the US recognizes Taiwan as the China then they take on the debt. In fact by the very arguments presented the ROC is much more liable as the keeper of Qing dynasty debt than the PRC. The fact that the KMT still exist would mean that they are the direct inheritors of the Qing Dynasty and not the CCP since the KMT defeated and wiped out the Qing while CCP hasn't completely taken over from the KMT and actually making one China. Again this isn't a checkmate situation. This is a Pandora's box that could greatly backfire on US interests. Also as I said before given how much debt the US has it would be very risky for the US to weaponize debt. Our economy is very dependent on keeping a flow of credit, even more than trade. If that is threatened we could very quickly see not just a recession but a depression.
The US doesn't recognize Taiwan and I don't see how forcing China to pay its debts changes that. The only one who stands to be affected is China. They are the ones who owe nearly as much as we owe. This would of course only be used as a "Trump" card to play if China should the US need to in the instance that China is the one who weaponizes debt. Also to argue that Taiwan owes the debt is akin to China trying to avoid the bill after the PRC claims it is the true one and only China. So they have no choice or they will be going against the one China policy; a policy is at the center of this strategy. I am not trying to argue that Taiwan is somehow more liable or not, because it ultimately won't matter. Plus since China says its the only China and the US doesn't recognize Taiwan as a state, then both countries already agree the PRC is China. That would make them the ones responsible for paying the nation's outstanding debts. What really matters is pressuring China should it decide to weaponize debt and cornering it regarding the One China policy. The US can hit it China on its One China policy and pressure it to pay its debts and if it doesn't then it can always recognize Taiwan. The last thing China wants is for a large nation like the US to recognize Taiwan and we may see that happen should things deteriorate further. Perhaps checkmate is a strong word, and it's not "CHECK MATE" but it is a compelling argument waiting to be made that could be vital ammunition if China thinks it's going to bully the US with debt. This is definitely a "can't have your cake and eat it too" type reality for the PRC. You want to be the only China, then you pay its bills. Edit: I read into it more and it turns out China already paid out on bonds held by British investors in 1987 as part of the Hong Kong handover deal. Therefore, they are in selective default and could be blocked from selling debt in international markets, via a Bloomberg report. This gives them no ground to stand on as to who owes this debt. They've already acknowledged it is theirs.
I would literally hear a bar dropping if this debt “issue” picks up steam and rears its ugly head from the bowels of loony land. I suppose a cookie is earned for the topic starter. Trump plays more verbal limbo than 3D chess.
That's right. Let's do it! Must've been The Globalists getting in the way of purely business! Big play! Big balls!
Communists that outsmart Trump and friends. SAD! Anyway, China doesn't have to do anything. If I were China I would just play Mitch McConnell to Trump they way he did to Obama. Say no and kill any proposal from Trump. Always ask for more. Give nothing ever. Sure China's economy would suffer, but the US would go into recession and Trump would lose. Then China could deal with a sane President. This is probably already their plan. Trump forgets that he has a year and change left before he is out of office
I am not surprised you would attack me as not pro-American for not being a fan of your orange hero. White nationalists are known to do this - if you don't wave the flag and love the right-wing president, you must be a traitor who should go back to your own country. Love it or leave it right?
I think you really should seek help. You're clearly projecting and you have some serious trauma issues from your past that cause you to seek racism at every turn. Also you seem to think people who disagree with you fit a standard template. A sign of a lazy intellect and low IQ. This little episode you're having is a perfect example of why you should heed my advice about seeking help. Your mental state is not stable. That instability and your extreme hate for the U.S. President is exactly why I said you are a prime candidate for a government watch list. You're definitely someone I wouldn't let tour the White House.
