Mike Whitney – The Unz Review June 1, 2025
Trump wants China to open up its key sectors like finance, real estate & high-tech industries so that his billionaire Zionist buddies can buy up the assets (using the freely printed USD the Fed gave them) and control China like they control America. https://t.co/Ln3s0O9zow
— 倪明达 (Ni Mingda) (@NiMingDa_888) May 9, 2025
On Friday, President Donald Trump delivered a blistering attack on China accusing Beijing of breaking the terms of an agreement that was consummated just weeks earlier in Switzerland. Here’s what Trump posted on his Truth Social site on May 30, 2025:
Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World. We went, in effect, COLD TURKEY with China, and it was devastating for them. Many factories closed and there was, to put it mildly, “civil unrest.” I saw what was happening and didn’t like it, for them, not for us. I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen. Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY! Donald J. Trump@realDonaldTrump
Ignoring the fact that China is in no economic trouble at all (Note: China’s GDP grew by 5.4% in the first quarter of 2025 while Chinese exports soared by more than 12% in March 2025), there are a number of things wrong with Trump’s statement, the most obvious of which is that there is no formal treaty or binding contract between the Trump administration and China on the Tariffs issue. None. Trump even admitted as much on Truth Social on May 10 and 11, when he said, “much agreed to,” though he highlighted the need to “paper it” or formalize it in writing.
What happened is this: China generously offered to sign a joint statement following the confab in Geneva where Treasury Secretary Scott Bessent barged-in on a pre-scheduled meeting between Chinese and Swiss officials (that had nothing to do with US trade policy) and offered to slash Trump’s gigantic tariffs (to 30%) in exchange for nothing. (Bessent was obviously panicking over extreme market volatility on Wall Street and capitulated on the spot.) China made no concessions. Bessent basically put on sackcloth and ashes and publicly debased himself in front of the world for nothing. The only thing that was mutually agreed upon was “to establish a US-China trade consultation mechanism”. In other words, they agree to talk to each other in the future. Big deal.
And now Trump is saying China “has totally violated its agreement with us”?
What agreement, and what ‘violation’ is Trump talking about? No one even knows what he means??
In fact, his comments were so opaque, US Trade Representative Jamieson Greer had to clarify what he meant later in the day. On Friday, in an appearance on CNBC, Greer said that while China had reduced some tariff rates as agreed, it had not fully removed certain non-tariff countermeasures implemented during the trade war.
“They removed the tariff like we did but some of the countermeasures they’ve slowed on,” he said.
WTF? “Non-tariff countermeasures”? So, this isn’t even about the tariffs??
Nope. In fact, non-tariff barriers could refer to any number of things from sovereign regulations limiting foreign investment to subsidies to state-owned businesses. Here’s one explanation from analyst Arnaud Bertrand:
“This is why Trump is angry, as per the WSJ… after the talks in Geneva the U.S. decided to adopt new rules banning the use of Huawei’s new AI chips “anywhere in the world” (which, insanely, includes China), which China said “seriously undermined consensus reached at the high-level bilateral talks in Geneva.”
In response China is slow-walking approvals for export licenses of rare earths, and US automakers are warning the White House that “auto plants may have to idle in pandemic-style stoppages” as a result.
The WSJ report should help readers to see what is really going on below the surface. On the one hand, we have Trump and Co. trying to convince their MAGA supporters that the ‘tariffs war’ is all about “bringing manufacturing jobs back to the US” and “re-industrializing America”, while on the other, we have Trump using the talks in Geneva as a way to thwart China’s technological development while extracting concessions on the export of rare earths.
Naturally, China has responded to Trump’s claim that they “totally violated their agreement with us.”(although you wouldn’t know it by reading the western media.) On Saturday, China’s embassy spokesperson, Liu Pengyu, said that China has maintained communications on trade matters with the US, but expressed concerns about U.S. policies, saying, “China once again urges the U.S. to immediately correct its erroneous actions, cease discriminatory restrictions against China and jointly uphold the consensus reached at the high-level talks in Geneva.” This response highlights China’s position that the U.S. is engaging in “erroneous actions” and abusing export control measures, particularly in the semiconductor industry.
This is a very polite way of saying that China is not going to play Trump’s silly game. If the administration chooses to break WTO rules and unilaterally ban Huawei’s new AI chips “anywhere in the world”, then they can expect that China will retaliate. The US is not used to someone its own size, calling its bluff, but that is simply the new reality.
But we think there is more to these “non-tariff barriers” than meets the eye. We think Trump’s real target is something much more ambitious and lucrative. Check it out:
“They’ve agreed to open up China. … The biggest thing to me is the opening up. I think it would be fantastic for our businesses if we could go in and compete.” President Donald Trump, White House Press Conference, (on trade negotiations following talks in Geneva, May 12, 2025)
“Free up China and sell our product. Open China. But I’m not even sure I’m going to ask for it because they don’t want it open. But because of tariffs, I can possibly get that.” President Donald Trump, April 25, 2025
Does this sound like a man whose primary objective is to bring manufacturing jobs back to the United States or to reindustrialize the country?
No. This sounds like a man who wants to win the praise of his billionaire friends by providing access to the most behemoth mountain of surplus capital in the world today. China, the golden goose.
Keep in mind, Scott Bessent is a former hedge fund manager who was a partner at Soros Fund Management (SFM) and ….a leading member of the group that profited by $1 billion on Black Wednesday, the British Pound sterling crisis…..Bessent has advocated pushing for concessions from U.S. trading partners to restrict their economic relationships with China in order to isolate China and gain leverage over it in potential trade talks. (Wikipedia)
Trump and Bessent are a tag-team; they’re cut from the same cloth. They’re not interested in making America great again. They’re interested in accessing and liberalizing China’s financial markets, so the Wall Street banks can do to China what they have done to the United States, transform it into a poverty-stricken basket-case that is $35 trillion in debt and headed for Davey Jones locker. That is the overriding ambition of every financial parasite on Wall Street.
Bessent believes that China should remove restrictions on foreign financial institutions and allow U.S. banks to operate freely in its $18.6 trillion economy, particularly in banking, asset management, and securities. He thinks this would integrate China into global finance, reducing trade imbalances… (April 23, 2025, Institute of International Finance).
Bloomberg article summary: On January 19, 2023, Bloomberg reported that JPMorgan Chase & Co. gained full control of its China mutual fund joint venture, acquiring a 49% stake in China International Fund Management Co. from Shanghai International Trust Co., as approved by the China Securities Regulatory Commission (CSRC). This move aligned JPMorgan with rival Manulife Financial Corp. in securing 100% ownership of a business in China’s 26 trillion yuan ($3.8 trillion) market. JPMorgan’s asset management arm, established in 2016, will be integrated under the JPMorgan Asset Management (JPMAM) brand in China. Similarly, Standard Chartered received CSRC approval to set up a wholly-owned securities brokerage in China, with a registered capital of 1.05 billion yuan, offering services like underwriting and asset management. This follows China’s accelerated approvals for foreign firms, with Manulife and others gaining clearances in late 2022, boosting competition in the market (Grok)
Banks like JPMorgan, Goldman Sachs, and Morgan Stanley seek greater market share in China’s $55 trillion financial sector (2024, including banking and securities). Currently, foreign banks hold only 1.3% of China’s banking assets ($59 trillion) and face caps on ownership….
Benefit: Opening markets would allow Wall Street to compete with Chinese banks, tapping into China’s $19-20 trillion household savings…
Wall Street banks—major U.S. financial institutions like JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Citigroup—play a significant but complex role in Bessent’s demands. They stand to benefit from China’s market opening, particularly in financial services and capital markets, but their involvement also raises concerns about financial extraction and geopolitical tensions…
(according to Bessent) China should relax capital controls, allowing freer flows of foreign investment and yuan convertibility, integrating its $3.1 trillion foreign exchange reserves and $12 trillion bond market into global finance. Bessent sees this as part of “restoring equilibrium” to global markets. (Note—China is being asked to trust its national savings with the crooks who blew up the financial system in 2008 costing the world over $50 trillion.)
Here’s the former Soro’s fund manager, Scott Bessent in his own words:
“Our goal is not to decouple from China, but to open markets and restore balance. We’ll continue trading with China, especially in non-strategic goods, and at lower tariff levels.” Treasury Secretary Scott Bessent wrote on X, May 18, 2025
China’s market opening is a condition for de-escalating the trade war… Financial market access is a key U.S. demand in talks(Q3 2025 target, per Reuters). (Note—There it is in black and white; ‘Open up or the war continues.)
Check out these quotes from Trump’s statement delivered in the White House on May 12, and you’ll understand what’s going on:
On the Agreement and China’s Actions:
We achieved a total reset with China after productive talks in Geneva. China agreed to open itself up to American business. They’ve agreed to suspend or remove the non-tariff countermeasures they imposed on the United States since April 2, 2025. This is maybe the most important thing to come out of these high-level trade talks between the two superpowers in Geneva, Switzerland, over the weekend.
On the Importance of Opening Markets:
The best part of the deal was that we opened up China. China agreed to open itself up to American business. We have to get it papered, but they’ve agreed to open up China.
On the Process and Future Steps:
China deal ‘not the easiest thing to paper.’ We have to get it papered, but they’ve agreed to open up China. We achieved a total reset with China after productive talks in Geneva. I didn’t rule out raising tariffs on China again if a final agreement isn’t reached in 90 days
This is pure fiction. Yes, China has lifted some restrictions on foreign banks and liberalized parts of its financial system, but the Chinese Communist Party (CCP) still exerts absolute control over China’s banking and finance sectors as well as the nation’s Central Bank which is led by the CCP. (“The PBOC sets monetary policy, interest rates, and reserve requirements, aligning financial policy with party goals like economic stability and growth.”)
There is no chance that China will follow the same path as the United States and put its future in the hands of the voracious miscreants who have taken everything of value and left the country drowning in red ink. Even so, there is reason for concern. As one Chinese analyst put it:
The most dangerous time for China is when the decline of the U.S. reaches terminal velocity & parasitic Western/Zionist billionaires look for a new host.
— 倪明达 (Ni Mingda) (@NiMingDa_888) November 15, 2023
“Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World.”
Here goes Trumpstein the buffoon again who seems to forget that the Chinese own half of America and effectively underwrite the yankee “economy”.
Trumpstein: Big mouth, small brain.
The comment that, auto plants may remain idle while waiting for rare earth minerals. That would take us back to when cars were made without rare earth minerals, a time when cars lasted for 30 years, a time when any practical person could maintain their vehicle. A time when people enjoyed driving. A time when people were happy.
It may become necessary for China to ban all dollar purchases on its stock markets. While it won’t stop all purchases being made by these western parasites it will prevent the money printed off like wallpaper from acquiring so much real wealth. They should have other currencies in their company reserves to buy into Chinese stocks but that’s real money and so becomes real purchasing; and to enrich themselves like others who buy and sell stocks they’re going to have to earn their wealth by actually trading successfully. With that can come losses. If they’re unhappy with this arrangement because they just become plain Joe Trader like everyone else who can gain or lose no doubt they’ll bleat to the world China is treating them unfairly.
China is parasitic, doing very little except create a fake version of us, right down to the mannerisms of a concert pianist playing Chopin
“So much for being Mr. NICE GUY!”
Geez… far from having the gravitas and “diplomatic finesse” that – in a more innocent times – one might’ve been tempted to associate with the Office of ‘President of The United States’…..
Donny sounds more like Tony Soprano having indigestion.. and threatening to whack some poor sod in a New Jersey parking-lot for not “coming up with the goods” in an attempted shakedown “deal”!
🤣🤣🤣
just more pro-Commie chink propaganda from CIA-KGB Whitney
Not content with slapping tariffs on most things exported into the US which US consumers will have to pay for, Trump’s new Big Beautiful Bill, Section 899 is of major concern to all foreign entities who earn profits in the US from stock market dividends, bonds which mature, pension investment returns etc, and who then send those profits back home.
Currently they pay 0% tax through mutual agreements between the US and many other countries, but now Trump wants an arbitrary tax–the rules on who pays are vague–of 5% and increasing 5% every year up to 20%, on returns going to countries who impose a sales tax like VAT. Trump says these unfair burdens on US companies are anti-competitive, though he doesn’t explain how if everyone pays a sales tax in that country how that is anti-competitive. A tax is a pain for sure and that’s probably what he really means but is not prepared to say so, but his plans to claw back money like this seem like the unworkable scams of an unsophisticated huckster who thinks everybody else is too rich to care or just stupid.
https://www.youtube.com/watch?v=8sL9hJwJ7Ho (9m 24s)
More Commie propaganda. Jew bankers/oligarchs/rabbis rule China just as they do US, Russia, UK etc.. Most people don’t know that there are Chinese/Asian Jews, just as there are black Jews, white jews, hispanic Jews–over generations of intermixing with the host, these mongrel parasites/ghouls mimic the morphology of the host population, so in many cases it is difficult to distinguish them from a member of the host. You’ll notice the Jews of Mexico resemble Mexicans, compared to the Jews of England who are more white looking. Same thing with the Asian Jews (China/Japan) who look more like gooks than their mongrel ‘white’ Jewish brethren in Germany…
@ Lewis…
The Chopin analogy is a good one..but you could argue that the chinese are no worse than contemporary Western musicians..who have trouble with the repertoire and have been forced to endlessly re-invent it’s lol ‘performance’ because they are abject imbeciles..
Listen to the nazi Von Karajan and compare his Beethoven to anything post 1990…in fact compare anything he did with any ‘modern’ ..
presumably on his death bed he uttered ..’look upon my work and weep’… and of course they have..
ever since…
It’s unfortunate that this is being covered on here, when there are better stories.
Donald Hitler got smacked down by the Chinese with their own tariffs, and it was Donald Hitler who called the Chinese. The Chinese didn’t call Nazi Amerika.
The imbalances, if their are any, we’re created by Wall Street and the corporations. They got their Nazi puppets in Washington, to fund this monumentle scam on the Amerikan sheeple, and if you want an example of Nazi power (now waning fast). The Indian economy is worth $4 trillion, and China is nearly $19 trillion. This staggering in balance, given that populations are similar, was determined by the City Crime Cartels, Wall Street mobs, and corporations.
Donald Hitler is either a thick twat, or a liar.
chesterton–nearly everyone I have heard speak on Radio 3 has had to prove that he is not a Nazi but is fully Communist multi-racialist, and that is the problem, of course
@ Crowley/Nico
Excerpt below from ‘China and the Jews’ article at VT site, originally posted at now defunct Lasha Darkmoon site. Excellent article overall, worth the read. If anyone thinks that China is operating autonomously, outside ZOG control… think again
———————
“It is a sad and sobering fact that the Jews are already deeply entrenched in China and have been so for centuries. As an erudite China watcher on my site was quick to point out recently, the sinofication of Jewish names was already underway during the time of the Ming Emperors several centuries ago:
“During the Ming Dynasty (1368–1644), a Ming emperor conferred seven surnames upon the Jews, by which they are identifiable today: Ai (艾), Shi (石), Gao (高), Jin (金), Li (李), Zhang (張), and Zhao (趙); sinofications of the original seven Jewish clans’ family names: Ezra, Shimon, Cohen, Gilbert, Levy, Joshua, and Jonathan, respectively. Interestingly, two of these, Jin and Shi, are the equivalent of common Jewish names in the west: Gold and Stone.” (See here)
“Jews had in fact arrived in India via the Silk Road almost 1000 years ago, well before Marco Polo made his way to the Court of the Grand Cam (Khan) in distant Cathay (China) in the late 13th century. Waves of Jews were to follow them in subsequent centuries until China finally acquired its own thoroughly assimilated Jews, the Kaifeng Jews, indistinguishable from the Chinese.”
Link to article at VT website
https://www.veteranstodayarchives.com/2014/12/10/china-and-the-jews/
markie :
it appears you’ve confused me with another poster
@ Lewis..
Totally agree..radio three is like listening to turds whistle bobbing on a cess pit..with some feminist voice over explaining to you that they discovered these particular female turds in a dusty old draw because all the fat juicy male turds kept them all locked up…
the reason for this being, they were right wing turdogynists..
@Chestertom
.
Ok…here’s a Karajan performance:
https://m.youtube.com/watch?v=otiTMvm_S44
It does sound stunning, but the typical reader (me) may not understand how it is so much better than a more modern rendition of the same piece.
Will you please explain or illustrate? Thanks.
China is a paper tiger. In its attempt to call Trump’s bluff it threatens its own artificial economy and further incentivizes the US to detach itself from Chinese influence. Its State capitalist system cannot survive a full blown economic war with the US.
@ Ghost..
Yes it is stunning…What separates a giant Like Von Karajan from the modern midget is his understanding of the music…
.. it’s drama or subtleties..he isn’t trying to reinvent the wheel or deliberately refashioning, he’s getting inside the sound and pulling Beethoven out of it..(or whomever)..he used the orchestra as though he were playing an instrument.. and lived it..
He could just convey the Sturm Und Drang of the German Romantics..like no other..if you have time and a good sound system compare his Beethoven to anyone..
Here’s an excellent place to start..
https://www.youtube.com/watch?v=1MYVtEWaesc
of course if you have a Naim valve amp and Naim deck from the seventies get the vinyl..
Unfortunately the so called ‘classical scene’ nowadays is full of dreary female music grads that sound like they are trying to recompose sergeant peppers.. or Nick drakes backing tapes…
and the conductors and orchestras all try very hard to be ‘niche’ brands..even though that’s an absurdity…using lol gimmicks, period instruments and diversity because they have to be seen to be liberal and on message..hehe..
which takes us back to Lewis and his Chinese robots…
Markie:
You are right about Jews being entrenched in China .
One of the few works that shines some light on this is the “Library of Political Secrets” by Istvan Bakony.
Behind comrade Mao and his killing of dozens of millions Chinese, was his Jewish handler.
It seems, wherever there are megamurders, there are Jews behind it.
But, how could it be otherwise?
Not even the efforts of agent CJ can hide that fact behind the cloud of “Nazis, Nazis” he is so adept at expelling from some special orifice.
@ Crowley
LMAO — I am profoundly sorry sir, if I was in error. It just seemed as though your writing style, rhetoric and themes were uncannily similar to Nico. I’m sure Nico would never engage in such trickery, using multiple aliases to get his message out.