China not to accept another Plaza Accord, says ambassador

[TaiShang]

China not to accept another Plaza Accord, says ambassador

Xinhua Published: 2018-08-31


Chinese Ambassador to the United States Cui Tiankai said on Thursday that China would not accept a Plaza Accord imposed on it.

Chinese Ambassador to the United States Cui Tiankai.[File Photo: VCG]

He made the remarks while addressing a working lunch of roundtable discussion that focused on the topic of "Next Steps" at the Center for Strategic and International Studies (CSIS), a Washington-based think tank.

"On what to do next, for China it is very clear," Cui said. "I wish to advise people to give up the illusion that another Plaza Accord could be imposed on China. They should give up the illusion that China will ever give in to intimidation, coercion or groundless accusation."

"But at the same time, China is always ready to engage in serious, substantive and pragmatic negotiations and consultations to address the economic and trade issues on the basis of mutual respect and a balanced approach to resolve the concerns of both sides," he said, speaking of China-U.S. relations.

"This has to be a process of goodwill for goodwill and good faith for good faith," noted the Chinese diplomat. "If we can reach an agreement through this approach, I don't think the current economic and trade issues would be that difficult."

The Plaza Accord was signed between the U.S., France, the United Kingdom, West Germany and Japan in 1985 to spearhead efforts to weaken the dollar in order to correct U.S. trade imbalances.

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One can't help but think how it would be had Japan never buckled under the US pressure and dynamited in their economy in the 1980.

Political sovereignty helps in both times of growth and crisis, something that Japan never had.

 

[Cybernetics]

One can't help but think how it would be had Japan never buckled under the US pressure and dynamited in their economy in the 1980.

Political sovereignty helps in both times of growth and crisis, something that Japan never had.

That would have been a nearly impossible hypothetical scenario. Japan was and still is under the constraints of its post war constitution and the occupation of the US military. Japan lacks a deep state and is susceptible to covert US actions.

Some American analysts misused the analogy between the current China-US trade dispute and negotiation effort with that of Japan-US relations in the 1980s, saying how negotiations would be a "kabuki" (traditional Japanese theater) but would result in a US dominated deal after some superficial negotiations (no real escalation). The conditions were different, assumptions should change as well.

 

[hiseen]

The United States wants the world to listen to it~~~~~~~~~~~~WHY??????

 

[TaiShang]

That would have been a nearly impossible hypothetical scenario. Japan was and still is under the constraints of its post war constitution and the occupation of the US military. Japan lacks a deep state and is susceptible to covert US actions.

Some American analysts misused the analogy between the current China-US trade dispute and negotiation effort with that of Japan-US relations in the 1980s, saying how negotiations would be a "kabuki" (traditional Japanese theater) but would result in a US dominated deal after some superficial negotiations (no real escalation). The conditions were different, assumptions should change as well.

I guess Japan's complicit and almost traitorous bureaucracy is a major drag. Even at the (rare) event of a more independent minded government (like that of Hatoyama) the bureaucracy simply derails and slows down any meaningful change in the colonial arrangements.

China's bureaucracy is what it meant to be: Helping government run its activities smoothly and efficiently. In Japan, Bureaucracy has its own separate agenda. I guess it is not a result of bribery or material gains, but an outcome of a colonized mindset.

 

[UKBengali]

I guess Japan's complicit and almost traitorous bureaucracy is a major drag. Even at the (rare) event of a more independent minded government (like that of Hatoyama) the bureaucracy simply derails and slows down any meaningful change in the colonial arrangements.

China's bureaucracy is what it meant to be: Helping government run its activities smoothly and efficiently. In Japan, Bureaucracy has its own separate agenda. I guess it is not a result of bribery or material gains, but an outcome of a colonized mindset.

Japan could not afford to go against the whole of the Western world in 1989.
There simply was no other choice at the time as most Asian countries including China were 3rd world or at best medium-income.

The US and Europe could simply withdraw their market access for Japanese products and the Japanese economy would have collapsed.

 

[sweetgrape]

Only USA can be NO.1, others can't, this is logic of USA and western.

American don't want Chinese live well, want to keep Chinese poor.

 

[war&peace]

Only USA can be NO.1, others can't, this is logic of USA and western.

American don't want Chinese live well, want to keep Chinese poor.

That's true...

 

[Place Of Space]

Japan could not afford to go against the whole of the Western world in 1989.
There simply was not other choice at the time as most Asian countries including China were 3rd world or at best medium-income.

The US and Europe could simply withdraw their market access for Japanese products and the Japanese economy would have collapsed.

America had hundreds of thousands of soldiers stationed in Japan.

 

[UKBengali]

America had hundreds of thousands of soldiers stationed in Japan.

No need for military action.
US could also have stopped all oil shipments to Japan as well.

 

[Menthol]

According from what I know, Plaza Accord was for both Japan and West Germany. But it was Japan only who f*cked up. That is what I know.

I think what happened now, since the event is repeated twice, I can say how unhealthy USA economy model is.

It's stupid for China to follow what USA want. Their own problem, but China need to take the burden.

 

[powastick]

The problem is Plaza Accord won't stop US irresponsible policies. US will be demanding more and more in the future. Their economic model is unsustainable but refuse to admit it.

 

[oprih]

Another slap in the face of the arrogant and illiterate americans. These dumb americans should stick to stuffing their mouths with burgers and getting obese, leave it to the smart countries like China to manage the global economy.