Ex-Reagan advisor: Trying to get China to change its economic policy in trade deal is 'just nuts'
's intellectual property theft and forced technology transfers, as well as the trade deficits.
"The idea that you can change China's entire economic system — the way they manage state-owned companies, the way they manage their technology policy or their industrial policy — in the course of a trade discussion is just nuts," said Rutledge, now chief investment officer at the global investment firm Safanad. He has also advised leaders in the Chinese government.The trade war between the two nations escalated on Monday afteron $60 billion in U.S. goods, beginning June 1.
Rutledge said he's advised his own group, "You will not succeed in China turning itself inside out for you and not become China anymore. And you will not be able to walk around on the ground inside China and do checks on whatever you agree to." Before the recent escalation, it appeared that progress was being made. In explaining the boost in tariffs, the White House said Beijing backed out of major parts of the developing agreement.called the talks "constructive," no new date was set for negotiations to resume."This is not China reneging on the trade deal the last week. This is the hawks taking control, getting Trump's ear and pushing the trade war off the edge of a table.
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