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about Sino-American "trade relations"

Quora | Why does China import soybeans from the US?

May 2018, pulp rag: The world's biggest soybean importer, China has nearly tripled its imports from Russia, according to Bloomberg. Russian trade data show the country sold 850,000 metric tons of soybeans to China between July 2017 and mid-May this year....
Oct 2018, trade rag: If you thought it was odd that Egypt was the number one buyer of soybeans in July, you might want to sit down. The top buyer of U.S. soybeans in August 2018 was Iran. ...
Aug 2019, gov rag: With the arrival of African Swine Fever in China in mid-2018 along with the ongoing trade dispute, a steady decline in China's soybean import volume has been observed with imports currently forecast to reach 83 million tons in 2018/19, 11 million tons below 2017/18.  If not for the increase in demand from other markets, spurred in part by lower prices, the current trend in global soybean trade would have turned negative. ...
History of Soy in the Middle East
Quora | Why doesn't Russia just sell more oil and gas to China since they are two of the world's largest exporters and importers, respectively? Russia would mitigate Western sanctions and China would rely less on sources that are politically unstable.
2008-2018, EU28-CN-US: gross vol and value, commodity
2018 CN: Top 15 trading partners, gross vol and value
2019 RU: Top 5 trading partners, gross vol and value
US-RU: 1992-2019 gross value
Russia-China to discuss growing energy ties amid global trade uncertainty: Russia remained China's top crude oil supplier in 2018, CNPC and CNOOC agree to take 10% each in Novatek's Arctic LNG 2, CNPC 20% stake in Yamal LNG.
China-Russia gas pipeline construction begins new phase

Quora | Is there evidence that China is buying Iranian oil?

Iran is a founding member of OPEC and the OPEC open market Reference Basket (ORB).
Iran Crude Oil Production gross BBL/D/1K, 1973-2019 (e)
April 2019: inventory, China, India, S. Korea  
May 2019: crude stock draws, Russia, intermediaries, refiners
July 2019: JCPOA signatories reaffirm commitment to Iran nuclear deal
Aug 2019: minimum vol, INSTEX settlement
Defying U.S. Sanctions, China and Others Take Oil From 12 Iranian Tankers
US Side-lined
China and Russia are signatories of the Joint Comprehensive Plan of Action (JCPOA). The treaty modified Iran's nuclear programme in exchange for termination of sanctions by UNSC and EU regulation. Neither JCPOA terms of agreement nor UNSC and EU instruments stipulate sanctions against oil trade with Iran.
The US unilaterally withdrew from JCPOA 8 May 2018. The US terminated US sanctions relief for Iran and reasserted primary and secondary sanctions against third-parties contemplating trade Iran 6 Nov 2019. Now the KSA and Russia control supplies.

Diversity is the key to economic and political evolution.
by Cat on Sun Aug 25th, 2019 at 01:34:11 AM EST
US soy bean sales to China declined much more than 11 billion tons. China's total decline in impors was 12%.  
USDA's Federal Grain Inspection Service reveals that through the first seven weeks of the 2018/19 marketing year, 7.4 million bushels of new-crop U.S. soybeans have been shipped to China, down 97 percent from prior-year levels. Through the first seven weeks of the previous marketing year, the U.S. shipped 239 million bushels of soybeans to China, and during that same period in the 2016/17 marketing year the U.S. shipped 211 million bushels.

The retaliatory tariffs of 28 percent on U.S.-sourced soybeans have resulted in a sharp decline in China's purchases. Shipments of soybeans to China have fallen by 98 percent along the Mississippi River, 95 percent out of the Columbia River and by 91 percent from the Puget Sound. Shippers in the Interior, South Atlantic and East Gulf regions have yet to make a soybean shipment to China, Figure 1.



"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Aug 25th, 2019 at 03:02:39 AM EST
[ Parent ]
Who am I to argue with the USDA?
Wonderful, venerable institution.

Diversity is the key to economic and political evolution.
by Cat on Sun Aug 25th, 2019 at 03:25:14 AM EST
[ Parent ]
"Why doesn't Russia just sell more oil and gas to China since they are two of the world's largest exporters and importers, respectively? Russia would mitigate Western sanctions and China would rely less on sources that are politically unstable."

Perhaps China wants to diversify its petroleum sourcing. Perhaps it needs more oil than can easily be supplied by Russia or perhaps it gets the oil at a better price.

But, most significantly, China wants to consolidate its grip on Asia, of which Iran is an important part. At the same time China greatly increases its presence in the Indian Ocean  and South Asia. China has a port facility in Columbo, Sri Lanka and has docked both nuclear and diesel submarines there. It has established a naval port in Djabouti and may be planning one in Pakistan,

Given its strategic placement, Sri Lanka is fast becoming the pivot of rising Chinese naval presence in the IOR, in that, China also has a substantial controlling stake in the Hambantota port, with Colombo agreeing to grant Chinese state-owned companies operating rights to as many as four berths in exchange for an easing of loan conditions. Besides, there are unconfirmed reports of construction of a Chinese-run aircraft maintenance facility near Hambantota in order to service PLAAF assets based in Sri Lanka. In neighbouring Pakistan, the docking of a Chinese submarine in Karachi, following the handing over of the port's operational control to China Overseas port Holdings is another step towards consolidating Chinese permanent naval presence in South Asia.

These developments, significantly, are in sync with China's much pronounced Maritime Silk Route strategy -- a prominent feature of the upcoming 13th Five-Year Plan (2016-2020). The maritime route is a proposed sea network of ports, coastal infrastructure projects beginning in Quanzhou in the Fujian province and culminating in the northern Mediterranean Sea. By virtue of this fresh strategy, Beijing seeks to gain greater access to the strategic pathways of the Indian Ocean, alleviated access to the Gulf oil -- which consequently shall reduce its dependence on the passage through the Straits of Malacca -- a key potential vulnerability for China in the event of a future conflict.



"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Aug 25th, 2019 at 03:34:05 AM EST
[ Parent ]
'We're already at war economically,' Iranian Foreign Minister Zarif tells FRANCE 24
Miriam Pirzadeh, FRANCE24: It seems that Iran will leave some of her engagements of this period, in a few weeks?
ZARIF: No, it means that Iran has the right in JCPOA to take some measures. We informed our European partners as well as our two other members. That is Japan--ah, no, sorry--Russian and China that we will be taking certain measures. Those measures are reversible within a few hours, not even days, provided that Europe takes the measures that it is supposed to take legally in order for the Iranian people to receive the economic benefits of JCPOA which remains one of tenets, one of the principles and pillars of this deal. This deal based on two pillars. Iran respecting its nuclear obligations and Europe and the United States, China, and Russia normalizing relations with Iran along with the rest of the international community because this is also a [UN] Security Council solution.
US piracy
ZARIF: We will continue to sell our oil. The United States will try to prevent it, but we'll continue.
FRANCE24: How?
ZARIF: Well, we know the ways. We have dealt with US aggression and US economic terrorism for the past forty years, and we will live with it. We have prospered. We have made progress. We passed an eight years of foreigh aggression against our country relying on our own people. Don't forget, missiles that shot down the most sophisticated US drone were Iranian made, because we had  S-300s. We could have used S-300s, but we used Iranian missile system to show that while we have friends, we don't rely on anybody for our defense.
invitation to the White House declined: "Iranians are allergic to threats."

Diversity is the key to economic and political evolution.
by Cat on Fri Aug 30th, 2019 at 12:50:12 PM EST
[ Parent ]

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