November 20th, 2017

Trump’s China deal

Salena Zito notes that it hasn’t gotten much press:

Last weekend in Beijing, as part of his 12-day trip to Asia, President Trump announced that the US and China had signed an $83.7 billion memorandum of understanding to create a number of petrochemical projects in West Virginia over the next 20 years.

If the agreement holds tight, it is an economic game changer for the state.

And yet, speaking to the locals [in the state], you wouldn’t even know it had happened…

The BBC and CNN covered the news in their business sections, while The New York Times picked up a short story by The Associated Press on the deal. The stories’ headlines were muted; their placement low-key.

“One would have suspected that the prospect of an investment this large — nearly three times the total annual budget for the department of energy — would have been front-page news,” said Paul Sracic, political-science professor at nearby Youngstown State University.

Zito points out that Trump himself hasn’t really emphasized it in the medium he loves, Twitter. He’s been keener on insulting CNN and the like.

Jerald Stephens, a West Virginia native and union rep, was interviewed for the article and said, “I can guarantee you if anyone not named Trump had made this kind of deal for West Virginia, it would have at least been a panel discussion or two on a cable news channel.”

Or more.

8 Responses to “Trump’s China deal”

  1. blert Says:

    West Virginia’s claim to Coal Fame is Met Coal.

    That is, her mines are famously low in sulfur and phosphorous.

    At this time, Red China is importing VAST amounts of Met Coal from Australia — and is furious about pricing.

    So, it’s an odds on bet that Beijing will start with bottom-of-the-market purchasing of West Virginia coal mines.

    THAT’S the play.

    It’s also true that — down the road — Met Coal dovetails neatly with coal to oil schemes… should the numbers work out.

    I rather DOUBT that this will ever prove out to be anything other than a bulk purchase of West Virginia coal fields.

    Coal to oil just can’t pencil out against fracked crude oil.

    It’s not even close.

    But, the pitch looks good on paper — to those who don’t know diddly about industrial chemistry… or the coal industry.

  2. Geoffrey Britain Says:

    It is counter productive for MSM Propaganda outlets to acknowledge successful achievements by those they oppose. They’ll never willingly report anything positive Trump may do or achieve. If they can’t avoid it, they’ll spin it as negatively as they can. It’s what propagandists do.

  3. vanderleun Says:

    This crap about being “upset” by Trumps tweeting has really been done to death.

    Not going to change until Twitter tosses him off the site.

  4. Geoffrey Britain Says:

    “Coal to oil just can’t pencil out against fracked crude oil. It’s not even close.” blert

    What’s the upside for China then?

    “Not going to change until Twitter tosses him off the site.” vanderleun

    I’m not sure that’s going to happen. Trump’s good for business. Plus, regardless of how happy it would make those on the left, twitter tossing Trump off a public network would be bad ‘optics’. DOJ might consider it as a 1st amendment violation?

  5. Manju Says:

    Other possible reasons why this hasn’t gotten much press

    1. Memorandum of Understanding = NON-BINDING.
    2. Trump is a Con Man with a history of pulling this sort of BS. For instance, “the $110 billion arms deal to Saudi Arabia is fake news.”
    3. Concerning Saudi Arabia, “None of the deals identified so far are new, all began in the Obama administration.”
    4. Trump might be pulling this stunt again. For instance, Bloomberg reports that; Boeing Co.’s $37 billion aircraft order consists mostly of previously agreed deals…”
    5. Like the previous Saudi deals, the numbers assigned to these non-binding words on a piece of paper are difficult to verify.

    In short, the bulk of deals aren’t deals deals at all (they are non-binding), the ones that are were largely negotiated by the Obama admin, and Trump lies about numbers.

  6. parker Says:

    “When you believe in things you don’t understand you suffer”

  7. Cornhead Says:

    Creighton beat UCLA. I doubt their 3 freshmen would have made a difference.

  8. blert Says:

    Geoffrey Britain Says:
    November 20th, 2017 at 7:50 pm

    GB…

    Because of Barry Soetoro, West Virginia coal — in the ground — is selling for an INSANE discount to its value.

    Not so for Australian coal seams.

    THAT’S the play.

    It is MOST unlikely that Red China can EVER transmute Coal to Oil at anything like an economic price.

    BUT…

    Buying Met Coal at the BOTTOM of the market = money spinner.

    If I were Trump, I’d nix EVERY deal they want.

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