I’ve been looking for a broker that has an API for index futures and ideally also futures options. I’m looking to use the API to build a customized view of my risk based on balances, positions, and market conditions.
Searching the algotrading sub I found many API-related posts, but then when I actually read them and their comments, I found they’re often lacking in real substance. It turns out many brokers or data services that have APIs don’t actually support index futures and options via the API, and instead they focus on equities, forex, or cypto. So here’s the list of what I’ve found so far. This isn’t a review of these brokers or APIs and note that I have a specific application in mind (index futures and futures options). Perhaps you’re looking for an API for equities, or you just want data and not a broker, in which case there may be a few options. Also, I’m based in the US so I didn’t really look for brokers or platforms outside the US.
If you have experience with these APIs, please chime in with your thoughts. Also, I may have missed some brokers or platforms. If I did or if you see anything that needs correction please let me know.
​

Platform	Notes
ADM Investor Services	No API
Ally Invest	Does not support futures instruments
Alpaca	Only supports US Equities
Alpha Vantage	Does not support futures instruments
AMP	Broker with a huge number of platforms available including some with APIs
ApexFutures	No API
Arcade Trader	No API
AvaTrade	Does not support futures instruments
Backtrader	Not a data feed; otherwise looks cool but also looks like a one-man shop
Cannon Trading	Broker with a variety of platforms, some have API access such as TT
Centerpoint	No API
Charles Schwab	API does not support futures instruments
Cobra	No API
Daniels Trading	No API
Discount Trading	Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Edge Clear	Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Eroom	Now part of Dashprime. Offer a variety of APIs including CQG, TT, CBOE's Silexx, and others via FIX.
ETNA Trader	Only supports equities, options (including multi-legs), ETFs, Mutual Funds (Forex with cryptocurrencies coming soon)
ETrade	API seems robust but OAuth authorization needs to be refreshed via login once per 24 hours
Futures Online	No API
Gain Capital Futures	API available, based on .NET; unsure if they are open to retail clients
GFF Brokers	Broker with a large number of platforms including some with API access
High Ridge Futures	Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
iBroker	API available; contact them for more info
IEX Cloud	Looks great but does not support futures instruments
Infinity Futures	JSON API available; contact them for more info
Interactive Brokers	Client Web API looks promising if clunky
Intrinio	Supports futures instruments but is expensive
Koyfin	No API
Lightspeed	C++ API available
marketstack	API for equities available. Does not support futures instruments.
Medved Trader	Windows app with a streaming API to various data sources and brokers. See comment below about API beta access.
NinjaTrader	Does not support futures options
Norgate Data	Not a broker; supports futures data for $270/year
Oanda	Forex only; API last updated in 2018
Optimus Futures	Broker with a large number of available platforms including some with API access
Phillip Capital	Broker with a large number of available platforms including some with API access
polygon.io	Expensive but looks slick; does not support futures instruments
Quandl	API looks solid; $49/monthly for personal use, does not allow distributing or sharing data; not a broker
Quantconnect	Does not expose raw data
Quantopian	Does not expose raw data
Quantower	Software that connects to multiple brokers and data feeds; API to their software via C# interface
Saxo Markets	Broker with extensively documented API
Stage 5 Trading	API available through Trading Technologies
Straits Financial	Broker with several platforms available including some with APIs such as CQG, R
Sweet Futures	Broker with a large number of available platforms including some with API access
TastyWorks	There's an unofficial Python API
TenQuant.io	Does not support futures instruments
ThinkorSwim	Does not support futures instruments via the API
Tiingo	Free account tier but does not support futures instruments
TradePro	Broker with a number of platforms available; unclear if any are available with API access
Tradier	Free developer API account for delayed data but does not support futures instruments
TradeStation	Nice looking API docs and supports futures instruments; requires opening an account and a minimum balance of $100k and there’s no trial available
TradeFutures4Less	Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
TradingTechnologies	API looks robust; pricing starts at $700/month
TradingView	Does not expose data API
Tradovate Technologies	API exists, documentation unknown; need to talk to their account team
Wedbush Futures	Broker with several platforms offered, a few of which have API access
WEX	.NET/COM only; pricing not disclosed on website
Xignite	Pricing not disclosed on website but they do support futures instruments
Yahoo Finance API	Available through RapidAPI or via direct access; but it’s discontinued and unreliable
Zaner	Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs

​
Wow, this list grew longer than I originally thought it would be. If you spot a mistake, please let me know and I’ll correct it.
Edit:
- added Lightspeed API - updated Dashprime to indicate some of the APIs available - added Medved Trader to table - added marketstack to table

Perhaps, why not! However, what stops crypto from bullish growing? To my mind, the main reasons are not the volatility and lack of clear legal regulation, but the lack of new users (new blood), which creates a ‘’narrow’’ market. Why is this not a PR message? A message that can potentially attract the attention of brand new users who cannot take into account other investment tools (because of their complexity or high entry point or just because of the restrictions of policies of accredited investors).
If you invested in bitcoin (or in another functional cryptocurrency) exactly a year ago, then even now despite the market drop caused by the new “black swan” - a recession against the background of coronavirus, you would get more than 35% growth.
Why do we see that the audience of followers is not updated? Why all the projects are fighting for the same fans who entered the crypto before 2018 and continuing to place media uselessly on the same sites? As we all remember, until 2018, each project had access to 2 billion audience through a whole set of tools from advertising on social networks to context advertising. We used LinkedIn, reddit, twitter and of course, the 2 main tools for attracting traffic (google and Facebook). Each crypto project, using these marketing instruments, brought its advertising messages to a new audience, not only carrying out the KPI of the project, but also fueling up interest in the blockchain as a whole industry; thereby increasing the demand for crypto and its liquidity. Like any new financial instrument, crypto is faced with the resistance of the old financial system:
· misinformation on TV and the mass media (crypto is a lie, crypto is a drug and terrorism)
· pressure from regulators (SEC refused, limited, punished)
· And, of course, a decision that has the most “destructive” effect - a ban on the largest advertising platforms in the world.
Unfortunately, the sweet times before the “ban” can no longer come back. Since January 2018, advertising of blockchain and cryptocurrency projects on most of the platforms in the world and social networks has been prohibited. The first to limit the right to advertise were Google AdWords and DoubleClick, introducing a direct ban on advertising content in terms of cryptocurrencies and related materials. A similar situation with context advertising is in Yandex Direct. Social networks also show unfair attitude to the crypto industry. Nonetheless, the crypto industry is approaching a line that it becomes simply impossible to ignore. After all, no matter how the new model is revolutionary and capable of making the world a better place — it is doomed to die if no one knows about it. Of course, if you have a good marketing agency, and you are a large and successful venture blockchain project (from the top of best and most famous), with all the necessary licenses, you can still compete for banning in fb and google. Moreover, although it takes a long time, I know several projects that now have permission for official advertising. Despite the fact that the largest platforms have banned startup blockchain advertising, there are still ways to promote it.
What should everyone else do? What to do for a new comer that is just entering the market. Or for an old project that failed to get into the top of the most recognizable? ‘’Use your existing inventory’’ - it seems like the most important piece of advice that almost every project follows. Now we see how hundreds of projects are simultaneously placing on the same platforms (crypto news, ICO listings, bloggers), squeezing the last attention and investments from the same target groups. What are the results? They are obvious. Fundraising is falling, the number of new users and investors is not increasing, and liquidity is falling. In addition, for these reasons, in the last year, crypto has finally turned out from an instrument that would destroy the hegemony of big money, into an instrument - not very studied and too volatile.
What to do in order to revive the interest to crypto? Right now, to start to search and apply new traffic tools. Sources that can give huge coverage and this will help attract new users to your project, for whom you can become the first successful investment in the blockchain. What to study from? What and how to apply? The easiest way, as always, is to learn the experience of those who live in the world of advertising restrictions for a very long period. For example - casinos, forex, bookmakers, unlicensed video etc. We analyzed the largest representatives of these advertisers and chose the most effective method of placement, which appeared in the top of all advertisers – pirate sites with unlicensed content. It is also not a secret that many well-known offline and online retailers and not only are not ashamed of advertising on such sites along with advertising of the above-discriminated businesses. In addition, the crypto industry can be considered so far as discriminated in its rights.
What makes pirate sites so attractive? The main sense of advertising on resources with unlicensed content is the incredibly large coverage of the audience at relatively low prices. The largest resources provide 10 million unique visitors every month. The cost differs depending on the format – pre roll, branding, banner, and order of display. Price - from $ 10 for 1 thousand unique views. It is also worth considering the possibility of paying with crypto and a simple workflow, which allows you to make placements for very young and unknown companies. Technically, such platforms can track all interested users, so that later they can activate their attention in other campaigns to optimize marketing and advertising costs, which will allow the advertiser to save the customer’s budget in such a financially turbulent time, while generating even more leads. Indeed, traditional media today are still too expensive and do not have such technical capabilities of their platforms. The millionth audience of pirate resources is explained by the fact that the user loves unlicensed content, and such a user has other interests and hobbies, including the crypto, blockchain, venture projects and much more, which is so discriminated in advertising by official media and social networks. The ethical issue in the modern world of capitalist chaos caused by the global crisis can be left aside, as for marketing strategies, such ‘’pirate’’ resources:
· provide an opportunity to build moderate total project costs
· save on advertising, but do not limit yourself in their use
· as much as possible and as soon as possible can reach your target group and collect leads
· despite of discrimination to the dissemination of information about the crypto and blockchain project, to have workarounds to gather your audience
· not depend constantly on the changing policies of official expensive advertiser's platforms and their instructions
That is precisely what projects need in order to be successful during the limitation and expensive media.
If you are interested in the opportunities described above or you can offer services that will help crypto projects gather more audiences - feel free to write me: [[email protected]](mailto:[email protected]) or in telegram - u/golubev_serge
Sergey Golubev (Сергей Голубев)
EU structural funds, ICO/STO/IEO projects, NGO & investment projects, project management, comprehensive support for business

Perhaps, why not! However, what stops crypto from bullish growing? To my mind, the main reasons are not the volatility and lack of clear legal regulation, but the lack of new users (new blood), which creates a ‘’narrow’’ market. Why is this not a PR message? A message that can potentially attract the attention of brand new users who cannot take into account other investment tools (because of their complexity or high entry point or just because of the restrictions of policies of accredited investors).
If you invested in bitcoin (or in another functional cryptocurrency) exactly a year ago, then even now despite the market drop caused by the new “black swan” - a recession against the background of coronavirus, you would get more than 35% growth.
Why do we see that the audience of followers is not updated? Why all the projects are fighting for the same fans who entered the crypto before 2018 and continuing to place media uselessly on the same sites? As we all remember, until 2018, each project had access to 2 billion audience through a whole set of tools from advertising on social networks to context advertising. We used LinkedIn, reddit, twitter and of course, the 2 main tools for attracting traffic (google and Facebook). Each crypto project, using these marketing instruments, brought its advertising messages to a new audience, not only carrying out the KPI of the project, but also fueling up interest in the blockchain as a whole industry; thereby increasing the demand for crypto and its liquidity. Like any new financial instrument, crypto is faced with the resistance of the old financial system:
· misinformation on TV and the mass media (crypto is a lie, crypto is a drug and terrorism)
· pressure from regulators (SEC refused, limited, punished)
· And, of course, a decision that has the most “destructive” effect - a ban on the largest advertising platforms in the world.
Unfortunately, the sweet times before the “ban” can no longer come back. Since January 2018, advertising of blockchain and cryptocurrency projects on most of the platforms in the world and social networks has been prohibited. The first to limit the right to advertise were Google AdWords and DoubleClick, introducing a direct ban on advertising content in terms of cryptocurrencies and related materials. A similar situation with context advertising is in Yandex Direct. Social networks also show unfair attitude to the crypto industry. Nonetheless, the crypto industry is approaching a line that it becomes simply impossible to ignore. After all, no matter how the new model is revolutionary and capable of making the world a better place — it is doomed to die if no one knows about it. Of course, if you have a good marketing agency, and you are a large and successful venture blockchain project (from the top of best and most famous), with all the necessary licenses, you can still compete for banning in fb and google. Moreover, although it takes a long time, I know several projects that now have permission for official advertising. Despite the fact that the largest platforms have banned startup blockchain advertising, there are still ways to promote it.
What should everyone else do? What to do for a new comer that is just entering the market. Or for an old project that failed to get into the top of the most recognizable? ‘’Use your existing inventory’’ - it seems like the most important piece of advice that almost every project follows. Now we see how hundreds of projects are simultaneously placing on the same platforms (crypto news, ICO listings, bloggers), squeezing the last attention and investments from the same target groups. What are the results? They are obvious. Fundraising is falling, the number of new users and investors is not increasing, and liquidity is falling. In addition, for these reasons, in the last year, crypto has finally turned out from an instrument that would destroy the hegemony of big money, into an instrument - not very studied and too volatile.
What to do in order to revive the interest to crypto? Right now, to start to search and apply new traffic tools. Sources that can give huge coverage and this will help attract new users to your project, for whom you can become the first successful investment in the blockchain. What to study from? What and how to apply? The easiest way, as always, is to learn the experience of those who live in the world of advertising restrictions for a very long period. For example - casinos, forex, bookmakers, unlicensed video etc. We analyzed the largest representatives of these advertisers and chose the most effective method of placement, which appeared in the top of all advertisers – pirate sites with unlicensed content. It is also not a secret that many well-known offline and online retailers and not only are not ashamed of advertising on such sites along with advertising of the above-discriminated businesses. In addition, the crypto industry can be considered so far as discriminated in its rights.
What makes pirate sites so attractive? The main sense of advertising on resources with unlicensed content is the incredibly large coverage of the audience at relatively low prices. The largest resources provide 10 million unique visitors every month. The cost differs depending on the format – pre roll, branding, banner, and order of display. Price - from $ 10 for 1 thousand unique views. It is also worth considering the possibility of paying with crypto and a simple workflow, which allows you to make placements for very young and unknown companies. Technically, such platforms can track all interested users, so that later they can activate their attention in other campaigns to optimize marketing and advertising costs, which will allow the advertiser to save the customer’s budget in such a financially turbulent time, while generating even more leads. Indeed, traditional media today are still too expensive and do not have such technical capabilities of their platforms. The millionth audience of pirate resources is explained by the fact that the user loves unlicensed content, and such a user has other interests and hobbies, including the crypto, blockchain, venture projects and much more, which is so discriminated in advertising by official media and social networks. The ethical issue in the modern world of capitalist chaos caused by the global crisis can be left aside, as for marketing strategies, such ‘’pirate’’ resources:
· provide an opportunity to build moderate total project costs
· save on advertising, but do not limit yourself in their use
· as much as possible and as soon as possible can reach your target group and collect leads
· despite of discrimination to the dissemination of information about the crypto and blockchain project, to have workarounds to gather your audience
· not depend constantly on the changing policies of official expensive advertiser's platforms and their instructions
That is precisely what projects need in order to be successful during the limitation and expensive media.
If you are interested in the opportunities described above or you can offer services that will help crypto projects gather more audiences - feel free to write me: [[email protected]](mailto:[email protected]) or in telegram - u/golubev_serge
Sergey Golubev (Сергей Голубев)
EU structural funds, ICO/STO/IEO projects, NGO & investment projects, project management, comprehensive support for business

Perhaps, why not! However, what stops crypto from bullish growing? To my mind, the main reasons are not the volatility and lack of clear legal regulation, but the lack of new users (new blood), which creates a ‘’narrow’’ market. Why is this not a PR message? A message that can potentially attract the attention of brand new users who cannot take into account other investment tools (because of their complexity or high entry point or just because of the restrictions of policies of accredited investors).
If you invested in bitcoin (or in another functional cryptocurrency) exactly a year ago, then even now despite the market drop caused by the new “black swan” - a recession against the background of coronavirus, you would get more than 35% growth.
Why do we see that the audience of followers is not updated? Why all the projects are fighting for the same fans who entered the crypto before 2018 and continuing to place media uselessly on the same sites? As we all remember, until 2018, each project had access to 2 billion audience through a whole set of tools from advertising on social networks to context advertising. We used LinkedIn, reddit, twitter and of course, the 2 main tools for attracting traffic (google and Facebook). Each crypto project, using these marketing instruments, brought its advertising messages to a new audience, not only carrying out the KPI of the project, but also fueling up interest in the blockchain as a whole industry; thereby increasing the demand for crypto and its liquidity. Like any new financial instrument, crypto is faced with the resistance of the old financial system:
· misinformation on TV and the mass media (crypto is a lie, crypto is a drug and terrorism)
· pressure from regulators (SEC refused, limited, punished)
· And, of course, a decision that has the most “destructive” effect - a ban on the largest advertising platforms in the world.
Unfortunately, the sweet times before the “ban” can no longer come back. Since January 2018, advertising of blockchain and cryptocurrency projects on most of the platforms in the world and social networks has been prohibited. The first to limit the right to advertise were Google AdWords and DoubleClick, introducing a direct ban on advertising content in terms of cryptocurrencies and related materials. A similar situation with context advertising is in Yandex Direct. Social networks also show unfair attitude to the crypto industry. Nonetheless, the crypto industry is approaching a line that it becomes simply impossible to ignore. After all, no matter how the new model is revolutionary and capable of making the world a better place — it is doomed to die if no one knows about it. Of course, if you have a good marketing agency, and you are a large and successful venture blockchain project (from the top of best and most famous), with all the necessary licenses, you can still compete for banning in fb and google. Moreover, although it takes a long time, I know several projects that now have permission for official advertising. Despite the fact that the largest platforms have banned startup blockchain advertising, there are still ways to promote it.
What should everyone else do? What to do for a new comer that is just entering the market. Or for an old project that failed to get into the top of the most recognizable? ‘’Use your existing inventory’’ - it seems like the most important piece of advice that almost every project follows. Now we see how hundreds of projects are simultaneously placing on the same platforms (crypto news, ICO listings, bloggers), squeezing the last attention and investments from the same target groups. What are the results? They are obvious. Fundraising is falling, the number of new users and investors is not increasing, and liquidity is falling. In addition, for these reasons, in the last year, crypto has finally turned out from an instrument that would destroy the hegemony of big money, into an instrument - not very studied and too volatile.
What to do in order to revive the interest to crypto? Right now, to start to search and apply new traffic tools. Sources that can give huge coverage and this will help attract new users to your project, for whom you can become the first successful investment in the blockchain. What to study from? What and how to apply? The easiest way, as always, is to learn the experience of those who live in the world of advertising restrictions for a very long period. For example - casinos, forex, bookmakers, unlicensed video etc. We analyzed the largest representatives of these advertisers and chose the most effective method of placement, which appeared in the top of all advertisers – pirate sites with unlicensed content. It is also not a secret that many well-known offline and online retailers and not only are not ashamed of advertising on such sites along with advertising of the above-discriminated businesses. In addition, the crypto industry can be considered so far as discriminated in its rights.
What makes pirate sites so attractive? The main sense of advertising on resources with unlicensed content is the incredibly large coverage of the audience at relatively low prices. The largest resources provide 10 million unique visitors every month. The cost differs depending on the format – pre roll, branding, banner, and order of display. Price - from $ 10 for 1 thousand unique views. It is also worth considering the possibility of paying with crypto and a simple workflow, which allows you to make placements for very young and unknown companies. Technically, such platforms can track all interested users, so that later they can activate their attention in other campaigns to optimize marketing and advertising costs, which will allow the advertiser to save the customer’s budget in such a financially turbulent time, while generating even more leads. Indeed, traditional media today are still too expensive and do not have such technical capabilities of their platforms. The millionth audience of pirate resources is explained by the fact that the user loves unlicensed content, and such a user has other interests and hobbies, including the crypto, blockchain, venture projects and much more, which is so discriminated in advertising by official media and social networks. The ethical issue in the modern world of capitalist chaos caused by the global crisis can be left aside, as for marketing strategies, such ‘’pirate’’ resources:
· provide an opportunity to build moderate total project costs
· save on advertising, but do not limit yourself in their use
· as much as possible and as soon as possible can reach your target group and collect leads
· despite of discrimination to the dissemination of information about the crypto and blockchain project, to have workarounds to gather your audience
· not depend constantly on the changing policies of official expensive advertiser's platforms and their instructions
That is precisely what projects need in order to be successful during the limitation and expensive media.
If you are interested in the opportunities described above or you can offer services that will help crypto projects gather more audiences - feel free to write me: [[email protected]](mailto:[email protected]) or in telegram - u/golubev_serge
Sergey Golubev (Сергей Голубев)
EU structural funds, ICO/STO/IEO projects, NGO & investment projects, project management, comprehensive support for business

If you invested in bitcoin (or in another functional cryptocurrency) exactly a year ago, then even now despite the market drop caused by the new “black swan” - a recession against the background of coronavirus, you would get more than 35% growth.
Why do we see that the audience of followers is not updated? Why all the projects are fighting for the same fans who entered the crypto before 2018 and continuing to place media uselessly on the same sites? As we all remember, until 2018, each project had access to 2 billion audience through a whole set of tools from advertising on social networks to context advertising. We used LinkedIn, reddit, twitter and of course, the 2 main tools for attracting traffic (google and Facebook). Each crypto project, using these marketing instruments, brought its advertising messages to a new audience, not only carrying out the KPI of the project, but also fueling up interest in the blockchain as a whole industry; thereby increasing the demand for crypto and its liquidity. Like any new financial instrument, crypto is faced with the resistance of the old financial system:
· misinformation on TV and the mass media (crypto is a lie, crypto is a drug and terrorism)
· pressure from regulators (SEC refused, limited, punished)
· And, of course, a decision that has the most “destructive” effect - a ban on the largest advertising platforms in the world.
Unfortunately, the sweet times before the “ban” can no longer come back. Since January 2018, advertising of blockchain and cryptocurrency projects on most of the platforms in the world and social networks has been prohibited. The first to limit the right to advertise were Google AdWords and DoubleClick, introducing a direct ban on advertising content in terms of cryptocurrencies and related materials. A similar situation with context advertising is in Yandex Direct. Social networks also show unfair attitude to the crypto industry. Nonetheless, the crypto industry is approaching a line that it becomes simply impossible to ignore. After all, no matter how the new model is revolutionary and capable of making the world a better place — it is doomed to die if no one knows about it. Of course, if you have a good marketing agency, and you are a large and successful venture blockchain project (from the top of best and most famous), with all the necessary licenses, you can still compete for banning in fb and google. Moreover, although it takes a long time, I know several projects that now have permission for official advertising. Despite the fact that the largest platforms have banned startup blockchain advertising, there are still ways to promote it.
What should everyone else do? What to do for a new comer that is just entering the market. Or for an old project that failed to get into the top of the most recognizable? ‘’Use your existing inventory’’ - it seems like the most important piece of advice that almost every project follows. Now we see how hundreds of projects are simultaneously placing on the same platforms (crypto news, ICO listings, bloggers), squeezing the last attention and investments from the same target groups. What are the results? They are obvious. Fundraising is falling, the number of new users and investors is not increasing, and liquidity is falling. In addition, for these reasons, in the last year, crypto has finally turned out from an instrument that would destroy the hegemony of big money, into an instrument - not very studied and too volatile.
What to do in order to revive the interest to crypto? Right now, to start to search and apply new traffic tools. Sources that can give huge coverage and this will help attract new users to your project, for whom you can become the first successful investment in the blockchain. What to study from? What and how to apply? The easiest way, as always, is to learn the experience of those who live in the world of advertising restrictions for a very long period. For example - casinos, forex, bookmakers, unlicensed video etc. We analyzed the largest representatives of these advertisers and chose the most effective method of placement, which appeared in the top of all advertisers – pirate sites with unlicensed content. It is also not a secret that many well-known offline and online retailers and not only are not ashamed of advertising on such sites along with advertising of the above-discriminated businesses. In addition, the crypto industry can be considered so far as discriminated in its rights.
What makes pirate sites so attractive? The main sense of advertising on resources with unlicensed content is the incredibly large coverage of the audience at relatively low prices. The largest resources provide 10 million unique visitors every month. The cost differs depending on the format – pre roll, branding, banner, and order of display. Price - from $ 10 for 1 thousand unique views. It is also worth considering the possibility of paying with crypto and a simple workflow, which allows you to make placements for very young and unknown companies. Technically, such platforms can track all interested users, so that later they can activate their attention in other campaigns to optimize marketing and advertising costs, which will allow the advertiser to save the customer’s budget in such a financially turbulent time, while generating even more leads. Indeed, traditional media today are still too expensive and do not have such technical capabilities of their platforms. The millionth audience of pirate resources is explained by the fact that the user loves unlicensed content, and such a user has other interests and hobbies, including the crypto, blockchain, venture projects and much more, which is so discriminated in advertising by official media and social networks. The ethical issue in the modern world of capitalist chaos caused by the global crisis can be left aside, as for marketing strategies, such ‘’pirate’’ resources:
· provide an opportunity to build moderate total project costs
· save on advertising, but do not limit yourself in their use
· as much as possible and as soon as possible can reach your target group and collect leads
· despite of discrimination to the dissemination of information about the crypto and blockchain project, to have workarounds to gather your audience
· not depend constantly on the changing policies of official expensive advertiser's platforms and their instructions
That is precisely what projects need in order to be successful during the limitation and expensive media.
If you are interested in the opportunities described above or you can offer services that will help crypto projects gather more audiences - feel free to write me: [[email protected]](mailto:[email protected]) or in telegram - u/golubev_serge
Sergey Golubev (Сергей Голубев)
EU structural funds, ICO/STO/IEO projects, NGO & investment projects, project management, comprehensive support for business

This article is taken from the Wall Street Journal written about nine months ago and sits behind a a paywall, so I decided to copy and paste it here. This article explains Trump's policies toward global trade and what has actually happened so far. I think the article does a decent job of explaining the Trade War. While alot has happenedsince the article was written, I still think its relevant.
However, what is lacking in the article, like many articles on the trade war, is it doesn't really explain the history of US trade policy, the laws that the US administration is using to place tariffs on China and the official justification for the US President in enacting tariffs against China. In my analysis I will cover those points.

SUMMARY

When Trump entered the White House people feared he would dismantle the global system the US and its allies had built over the last 75 years, but he hasn't. He has realign into two systems. One between the US and its allies which looks similar to the one built since the 1980s with a few of quota and tariffs. As the article points out

Today, Korus and Nafta have been replaced by updated agreements(one not yet ratified) that look much like the originals. South Korea accepted quotas on steel. Mexico and Canada agreed to higher wages, North American content requirements and quotas for autos. Furthermore, the article points out Douglas Irwin, an economist and trade historian at Dartmouth College, calls these results the “status quo with Trumpian tweaks: a little more managed trade sprinkled about for favored industries. It’s not good, but it’s not the destruction of the system.” Mr. Trump’s actions so far affect only 12% of U.S. imports, according to Chad Bown of the Peterson Institute for International Economics. In 1984, 21% of imports were covered by similar restraints, many imposed by Mr. Reagan, such as on cars, steel, motorcycles and clothing. Protectionist instincts go so far in the US, there are strong lobby groups for both protectionist and freetrade in the US.

The second reflects a emerging rivalry between the US and China. Undo some of the integration that followed China accession to the WTO. Two questions 1) How far is the US willing to decouple with China 2) Can it persuade allies to join.

The second is going to be difficult because China's economic ties are greater than they were between the Soviets, and China isn't waging an ideological struggle. Trump lacks Reagan commitment to alliance and free trade. The status quo with China is crumbling Dan Sullivan, a Republican senator from Alaska, personifies these broader forces reshaping the U.S. approach to the world. When Mr. Xi visited the U.S. in 2015, Mr. Sullivan urged his colleagues to pay more attention to China’s rise. On the Senate floor, he quoted the political scientist Graham Allison: “War between the U.S. and China is more likely than recognized at the moment.” Last spring, Mr. Sullivan went to China and met officials including Vice President Wang Qishan. They seemed to think tensions with the U.S. will fade after Mr. Trump leaves the scene, Mr. Sullivan recalled. “I just said, ‘You are completely misreading this.’” The mistrust, he told them, is bipartisan, and will outlast Mr. Trump. both Bush II and Obama tried to change dialogue and engagement, but by the end of his term, Obama was questioning the approach. Trump has declared engagement. “We don’t like it when our allies steal our ideas either, but it’s a much less dangerous situation,” said Derek Scissors, a China expert at the American Enterprise Institute whose views align with the administration’s more hawkish officials. “We’re not worried about the war-fighting capability of Japan and Korea because they’re our friends.”

The article also points out unlike George Kennan in 1946 who made a case for containing the Soviet Union, the US hasn't explicitly made a case for containing the Soviets, Trump's administration hasn't, because as the the article explains its divided Michael Pillsbury a Hudson Institute scholar close to the Trump team, see 3 scenarios

• New Cold War with drastically reduced economic ties
• China resolve their tensions, integrate and run the world together
• Transactional US-China relationship of the sort during the 1980s

Pillsbury thinks the third is most likely to happen, even though the administration hasn't said that it has adopted that policy. The US is stepping efforts to draw in other trading partners. The US, EU and Japan have launched a WTO effort to crack down on domestic subsidies and technology transfers requirement. US and Domestic concerns with prompted some countries to restrict Huawei. The US is also seeking to walloff China from other trade deals. However, there are risk with this strategy

• Other countries like Japan and South Korea to dependent on China. Too integrated.
• Raise objections to Belt and Road. But no alternative
• The administration is not up to the task

ARTICLE

Trump Didn’t Kill the Global Trade System. He Split It in Two.

INTRODUCTION

My main criticism of this article is it tries like the vast majority of articles to fit US trade actions in the larger context of US geopolitical strategy. Even the author isn't certain "The first goes to the heart of Mr. Trump’s goal. If his aim is to hold back China’s advance, economists predict he will fail.". If you try to treat the trade "war" and US geopolitical strategy toward China as one, you will find yourself quickly frustrated and confused. If you treat them separately with their different set of stakeholders and histories, were they intersect with regards to China, but diverge. During the Cold War, trade policy toward the Soviet Union and Eastern Bloc was subordinated to geopolitical concerns. For Trump, the trade issues are more important than geopolitical strategy. His protectionist trade rhetoric has been fairly consistent since 1980s. In his administration, the top cabinet members holding economic portfolios, those of Commerce, Treasury and US Trade Representative are the same people he picked when he first took office. The Director of the Economic Council has changed hands once, its role isn't as important as the National Security Advisor. While State, Defense, CIA, Homeland Security, UN Ambassador, National Security Advisor have changed hands at least once. Only the Director of National Intelligence hasn't changed.
International Trade makes up 1/4 of the US economy, and like national security its primarily the responsibility of the Federal government. States in the US don't implement their own tariffs. If you add the impact of Treasury policy and how it relates to capital flows in and out of the US, the amounts easily exceed the size of the US economy. Furthermore, because of US Dollar role as the reserve currency and US control of over global system the impact of Treasury are global. Trade policy and investment flows runs through two federal departments Commerce and Treasury and for trade also USTR. Defense spending makes up 3.3% of GDP, and if you add in related homeland security its at most 4%. Why would anyone assume that these two realms be integrated let alone trade policy subordinate to whims of a national security bureaucracy in most instances? With North Korea or Iran, trade and investment subordinate themselves to national security, because to Treasury and Commerce bureaucrats and their affiliated interest groups, Iran and the DPRK are well, economic midgets, but China is a different matter.
The analysis will be divided into four sections. The first will be to provide a brief overview of US trade policy since 1914. The second section will discuss why the US is going after China on trade issues, and why the US has resorted using a bilateral approach as opposed to going through the WTO. The third section we will talk about how relations with China is hashed out in the US.
The reason why I submitted this article, because there aren't many post trying to explain US-China Trade War from a trade perspective. Here is a post titled "What is the Reasons for America's Trade War with China, and not one person mentioned Article 301 or China's WTO Commitments. You get numerous post saying that Huawei is at heart of the trade war. Its fine, but if you don't know what was inside the USTR Investigative report that lead to the tariffs. its like skipping dinner and only having dessert When the US President, Donald J Trump, says he wants to negotiate a better trade deal with other countries, and has been going on about for the last 35 years, longer than many of you have been alive, why do people think that the key issues with China aren't primarily about trade at the moment.

OVERVIEW OF THE UNITED STATES TRADE ORIENTATION

Before 1940s, the US could be categorized as a free market protectionist economy. For many this may seem like oxymoron, how can an economy be free market and protectionist? In 1913, government spending made up about 7.5% of US GDP, in the UK it was 13%, and for Germany 18% (Public Spending in the 20th Century A Global Perspective: Ludger Schuknecht and Vito Tanzi - 2000). UK had virtual zero tariffs, while for manufactured goods in France it was 20%, 13% Germany, 9% Belgium and 4% Netherlands. For raw materials and agricultural products, it was almost zero. In contrast, for the likes of United States, Russia and Japan it was 44%, 84% and 30% respectively. Even though in 1900 United States was an economic powerhouse along with Germany, manufactured exports only made up 30% of exports, and the US government saw tariffs as exclusively a domestic policy matter and didn't see tariffs as something to be negotiated with other nations. The US didn't have the large constituency to push the government for lower tariffs abroad for their exports like in Britain in the 1830-40s (Reluctant Partners: A History of Multilateral Trade Cooperation, 1850-2000).
The Underwood Tariffs Act of 1913 which legislated the income tax, dropped the tariffs to 1850 levels levels.Until 16th amendment was ratified in 1913 making income tax legal, all US federal revenue came from excise and tariffs. In contrast before 1914, about 50% of UK revenue came from income taxes. The reason for US reluctance to introduced income tax was ideological and the United State's relative weak government compared to those in Europe. After the First World War, the US introduced the Emergency Tariff Act of 1921, than the Fordney–McCumber Tariff of 1922 followed by a Smoot-Hawley Act of 1930. Contrary to popular opinion, the Smoot-Hawley Act of 1930 had a small negative impact on the economy, since imports and exports played a small part of the US economy, and the tariffs were lower than the average that existed from 1850-1914.
Immediately after the Second World War, when the US economy was the only industrialized economy left standing, the economic focus was on rehabilitation and monetary stability. There was no grandiose and ideological design. Bretton Woods system linked the US dollar to gold to create monetary stability, and to avoid competitive devaluation and tariffs that plagued the world economy after Britain took itself off the gold in 1931. The US$ was the natural choice, because in 1944 2/3 of the world's gold was in the US. One reason why the Marshall Plan was created was to alleviate the chronic deficits Europeans countries had with the US between 1945-50. It was to rebuild their economies so they could start exports good to the US. Even before it was full implemented in 1959, it was already facing problems, the trade surpluses that the US was running in the 1940s, turned to deficits as European and Japanese economies recovered. By 1959, Federal Reserves foreign liabilities had already exceeded its gold reserves. There were fears of a run on the US gold supply and arbitrage. A secondary policy of the Bretton woods system was curbs on capital outflows to reduce speculation on currency pegs, and this had a negative impact on foreign investment until it was abandoned in 1971. It wasn't until the 1980s, where foreign investment recovered to levels prior to 1914. Factoring out the big spike in global oil prices as a result of the OPEC cartel, it most likely wasn't until the mid-1990s that exports as a % of GDP had reached 1914 levels.
Until the 1980s, the US record regarding free trade and markets was mediocre. The impetus to remove trade barriers in Europe after the Second World War was driven by the Europeans themselves. The EEC already had a custom union in 1968, Canada and the US have yet to even discuss implementing one. Even with Canada it took the US over 50 years to get a Free Trade Agreement. NAFTA was inspired by the success of the EEC. NAFTA was very much an elite driven project. If the Americans put the NAFTA to a referendum like the British did with the EEC in the seventies, it most likely wouldn't pass. People often look at segregation in the US South as a political issue, but it was economic issue as well. How could the US preach free trade, when it didn't have free trade in its own country. Segregation was a internal non-tariff barrier. In the first election after the end of the Cold War in 1992, Ross Perot' based most of independent run for the Presidency on opposition to NAFTA. He won 19% of the vote. Like Ross Perot before him, Donald Trump is not the exception in how America has handled tariffs since the founding of the Republic, but more the norm.
The embrace of free trade by the business and political elite can be attributed to two events. After the end of Bretton Woods in 1971, a strong vested interest in the US in the form of multinationals and Wall Street emerged advocating for removal of tariffs and more importantly the removal of restrictions on free flow of capital, whether direct foreign investment in portfolio investment. However, the political class embrace of free trade and capital only really took off after the collapse of the Soviet Union propelled by Cold War triumphalism.
As mentioned by the article, the US is reverting back to a pre-WTO relations with China. As Robert Lighthizer said in speech in 2000

I guess my prescription, really, is to move back to more of a negotiating kind of a settlement. Return to WTO and what it really was meant to be. Something where you have somebody make a decision but have it not be binding.

The US is using financial and legal instruments developed during the Cold War like its extradition treaties (with Canada and Europe), and Section 301. Here is a very good recent article about enforcement commitment that China will make.‘Painful’ enforcement ahead for China if trade war deal is reached with US insisting on unilateral terms
NOTE: It is very difficult to talk about US-China trade war without a basic knowledge of global economic history since 1914. What a lot of people do is politicize or subordinate the economic history to the political. Some commentators think US power was just handed to them after the Second World War, when the US was the only industrialized economy left standing. The dominant position of the US was temporary and in reality its like having 10 tonnes of Gold sitting in your house, it doesn't automatically translate to influence. The US from 1945-1989 was slowly and gradually build her influence in the non-Communist world. For example, US influence in Canada in the 1960s wasn't as strong as it is now. Only 50% of Canadian exports went to the US in 1960s vs 80% at the present moment.

BASIS OF THE US TRADE DISCUSSION WITH CHINA

According to preliminary agreement between China and the US based on unnamed sources in the Wall Street Journal article US, China close in on Trade Deal. In this article it divides the deal in two sections. The first aspects have largely to do with deficits and is political.

As part of a deal, China is pledging to help level the playing field, including speeding up the timetable for removing foreign-ownership limitations on car ventures and reducing tariffs on imported vehicles to below the current auto tariff of 15%. Beijing would also step up purchases of U.S. goods—a tactic designed to appeal to President Trump, who campaigned on closing the bilateral trade deficit with China. One of the sweeteners would be an $18 billion natural-gas purchase from Cheniere Energy Inc., people familiar with the transaction said.

The second part will involve the following.

1. Commitment Regarding Industrial Policy
2. Provisions to protect IP
3. Mechanism which complaints by US companies can be addressed
4. Bilateral meetings adjudicate disputes. If talks don't produce agreement than US can raise tariffs unilaterally

This grouping of conditions is similar to the points filled under the 301 investigation which serve the basis for initiating the tariffs. I have been reading some sources that say this discussion on this second group of broader issues could only be finalized later
The official justifications for placing the tariffs on Chinese goods is found under the March 2018 investigation submitted by the office of the President to Congress titled FINDINGS OF THE INVESTIGATION INTO CHINA’S ACTS, POLICIES, AND PRACTICES RELATED TO TECHNOLOGY TRANSFER, INTELLECTUAL PROPERTY, AND INNOVATION UNDER SECTION 301 OF THE TRADE ACT OF 1974. From this investigation the United States Trade Representative (USTR) place US Tariffs on Chinese goods as per Section 301 of the Trade Act of 1974. Here is a press release by the USTR listing the reasons for placing tariffs, and the key section from the press release. Specifically, the Section 301 investigation revealed:

• China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from U.S. companies.
• China deprives U.S. companies of the ability to set market-based terms in licensing and other technology-related negotiations.
• China directs and unfairly facilitates the systematic investment in, and acquisition of, U.S. companies and assets to generate large-scale technology transfer.
• China conducts and supports cyber intrusions into U.S. commercial computer networks to gain unauthorized access to commercially valuable business information.

In the bigger context of trade relations between US and China, China is not honoring its WTO commitments, and the USTR issued its yearly report to Congress in early February about the status of China compliance with its WTO commitments. The points that served as a basis for applying Section 301, also deviate from her commitments as Clinton's Trade Representative Charlene Barshefsky paving the way for a trade war. Barshefsky argues that China's back sliding was happening as early as 2006-07, and believes the trade war could have been avoided has those commitments been enforced by previous administrations.
I will provide a brief overview of WTO membership and China's process of getting into the WTO.
WTO members can be divided into two groups, first are countries that joined in 1995-97, and were members of GATT, than there are the second group that joined after 1997. China joined in 2001. There is an argument that when China joined in 2001, she faced more stringent conditions than other developing countries that joined before, because the vast majority of developing countries were members of GATT, and were admitted to the WTO based on that previous membership in GATT. Here is Brookings Institute article published in 2001 titled "Issues in China’s WTO Accession"

This question is all the more puzzling because the scope and depth of demands placed on entrants into the formal international trading system have increased substantially since the formal conclusion of the Uruguay Round of trade negotiations in 1994, which expanded the agenda considerably by covering many services, agriculture, intellectual property, and certain aspects of foreign direct investment. Since 1994, the international community has added agreements covering information technology, basic telecommunications services, and financial services. WTO membership now entails liberalization of a much broader range of domestic economic activity, including areas that traditionally have been regarded by most countries as among the most sensitive, than was required of countries entering the WTO’s predecessor organization the GATT.
The terms of China’s protocol of accession to the World Trade Organization reflect the developments just described and more. China’s market access commitments are much more far-reaching than those that governed the accession of countries only a decade ago. And, as a condition for membership, China was required to make protocol commitments that substantially exceed those made by any other member of the World Trade Organization, including those that have joined since 1995. The broader and deeper commitments China has made inevitably will entail substantial short-term economic costs.

What are the WTO commitments Barshefsky goes on about? When countries join the WTO, particularly those countries that weren't members of GATT and joined after 1997, they have to work toward fulfilling certain commitments. There are 4 key documents when countries make an accession to WTO membership, the working party report, the accession protocol paper, the goods schedule and service schedule.
In the working party report as part of the conclusion which specifies the commitment of each member country what they will do in areas that aren't compliant with WTO regulations on the date they joined. The problem there is no good enforcement mechanism for other members to force China to comply with these commitments. And WTO punishments are weak.
Here is the commitment paragraph for China
"The Working Party took note of the explanations and statements of China concerning its foreign trade regime, as reflected in this Report. The Working Party took note of the commitments given by China in relation to certain specific matters which are reproduced in paragraphs 18-19, 22-23, 35-36, 40, 42, 46-47, 49, 60, 62, 64, 68, 70, 73, 75, 78-79, 83-84, 86, 91-93, 96, 100-103, 107, 111, 115-117, 119-120, 122-123, 126-132, 136, 138, 140, 143, 145, 146, 148, 152, 154, 157, 162, 165, 167-168, 170-174, 177-178, 180, 182, 184-185, 187, 190-197, 199-200, 203-207, 210, 212-213, 215, 217, 222-223, 225, 227-228, 231-235, 238, 240-242, 252, 256, 259, 263, 265, 270, 275, 284, 286, 288, 291, 292, 296, 299, 302, 304-305, 307-310, 312-318, 320, 322, 331-334, 336, 339 and 341 of this Report and noted that these commitments are incorporated in paragraph 1.2 of the Draft Protocol. "
This is a tool by the WTO that list all the WTO commitment of each country in the working paper. In the goods and service schedule they have commitments for particular sectors. Here is the a press release by the WTO in September 2001, after successfully concluding talks for accession, and brief summary of key areas in which China hasn't fulfilled her commitments. Most of the commitments made by China were made to address its legacy as a non-market economy and involvement of state owned enterprises. In my opinion, I think the US government and investors grew increasingly frustrated with China, after 2007 not just because of China's back sliding, but relative to other countries who joined after 1997 like Vietnam, another non-market Leninist dictatorship. When comparing China's commitments to the WTO its best to compare her progress with those that joined after 1997, which were mostly ex-Soviet Republics.
NOTE: The Chinese media have for two decades compared any time the US has talked about China's currency manipulation or any other issue as a pretext for imposing tariffs on China to the Plaza Accords. I am very sure people will raise it here. My criticism of this view is fourfold. First, the US targeted not just Japan, but France, Britain and the UK as well. Secondly, the causes of the Japan lost decade were due largely to internal factors. Thirdly, Japan, UK, Britain and France in the 1980s, the Yuan isn't undervalued today. Lastly, in the USTR investigation, its China's practices that are the concern, not so much the trade deficit.

REASONS FOR TRUMPS UNILATERAL APPROACH

I feel that people shouldn't dismiss Trump's unilateral approach toward China for several reasons.

1. The multilateral approach won't work in many issues such as the trade deficit, commercial espionage and intellectual property, because US and her allies have different interest with regard to these issues. Germany and Japan and trade surpluses with China, while the US runs a deficit. In order to reach a consensus means the West has to compromise among themselves, and the end result if the type of toothless resolutions you commonly find in ASEAN regarding the SCS. Does America want to "compromise" its interest to appease a politician like Justin Trudeau? Not to mention opposition from domestic interest. TPP was opposed by both Clinton and Trump during the election.
2. You can't launch a geopolitical front against China using a newly formed trade block like the TPP. Some of the existing TPP members are in economic groups with China, like Malaysia and Australia.
3. China has joined a multitude of international bodies, and at least in trade, these bodies haven't changed its behavior.
4. Dealing with China, its a no win situation whether you use a tough multilateral / unilateral approach. If the US endorse a tough unilateral approach gives the impression that the US is acting like the British during the Opium War. If you take a concerted Western approach you are accused of acting like the 8 Powers Alliance in 1900.
5. Trump was elected to deal with China which he and his supporters believe was responsible for the loss of millions manufacturing jobs when China joined the WTO in 2001. It is estimate the US lost 6 Million jobs, about 1/4 of US manufacturing Jobs. This has been subsequently advanced by some economists. The ball got rolling when Bill Clinton decided to grant China Most Favored Nation status in 1999, just a decade after Tiananmen.
6. China hasn't dealt with issues like IP protection, market access, subsidies to state own companies and state funded industrial spying.

To his credit, Trump has said his aim was not to overthrow authoritarian governments, and that even applies to the likes of Iran. The Arab spring scared Russia and China, because the US for a brief moment placed the spread of democracy over its security interest.

UNDERSTANDING HOW THE US MAKES DECISIONS REGARDING CHINA

At this moment, China or the trade war isn't an area of great concern for the American public, among international issues it ranks lower than international terrorism, North Korea and Iran's nuclear program.

According to the survey, 39 percent of the country views China’s growing power as a “critical threat” to Americans. That ranked it only eighth among 12 potential threats listed and placed China well behind the perceived threats from international terrorism (66 percent), North Korea’s nuclear program (59 percent) and Iran’s nuclear program (52 percent). It’s also considerably lower than when the same question was asked during the 1990s, when more than half of those polled listed China as a critical threat. That broadly tracks with a recent poll from the Pew Research Center that found concern about U.S.-China economic issues had decreased since 2012.

In looking at how US conducts relations foreign policy with China, we should look at it from the three areas of most concern - economic, national security and ideology. Each sphere has their interest groups, and sometimes groups can occupy two spheres at once. Security experts are concerned with some aspects of China's economic actions like IP theft and industrial policy (China 2025), because they are related to security. In these sphere there are your hawks and dove. And each sphere is dominated by certain interest groups. That is why US policy toward China can often appear contradictory. You have Trump want to reduce the trade deficit, but security experts advocating for restrictions on dual use technology who are buttressed by people who want export restrictions on China, as a way of getting market access.
Right now the economic concerns are most dominant, and the hawks seem to dominate. The economic hawks traditionally have been domestic manufacturing companies and economic nationalist. In reality the hawks aren't dominant, but the groups like US Companies with large investment in China and Wall Street are no longer defending China, and some have turned hawkish against China. These US companies are the main conduit in which China's lobby Congress, since China only spends 50% of what Taiwan spends lobbying Congress.
THE ANGLO SAXON WORLD AND CHINA
I don't think many Chinese even those that speak English, have a good understanding Anglo-Saxon society mindset. Anglo Saxons countries, whether US, UK, Canada, Australia, New Zealand and Ireland are commerce driven society governed by sanctity of contracts. The English great philosophical contributions to Western philosophy have primarily to do with economics and politics like Adam Smith, John Locke, David Hume and Thomas Hobbes. This contrast with the French and Germans. Politics in the UK and to a lesser extent the US, is centered around economics, while in Mainland Europe its religion. When the Americans revolted against the British Empire in 1776, the initial source of the grievances were taxes.
Outside of East Asia, the rest of the World's relationship with China was largely commercial, and for United States, being an Anglosaxon country, even more so. In Southeast Asia, Chinese aren't known for high culture, but for trade and commerce. Outside Vietnam, most of Chinese loans words in Southeast Asian languages involve either food or money. The influence is akin to Yiddish in English.
Some people point to the Mao and Nixon meeting as great strategic breakthrough and symbol of what great power politics should look like. The reality is that the Mao-Nixon meeting was an anomaly in the long history of relations with China and the West. Much of China-Western relations over the last 500 years was conducted by multitudes of nameless Chinese and Western traders. The period from 1949-1979 was the only period were strategic concerns triumphed trade, because China had little to offer except instability and revolution. Even in this period, China's attempt to spread revolution in Southeast Asia was a threat to Western investments and corporate interest in the region. During the nadir of both the Qing Dynasty and Republican period, China was still engaged in its traditional commercial role. Throughout much of history of their relations with China, the goals of Britain and the United States were primarily economic,
IMAGINE JUST 10% OF CHINA BOUGHT MY PRODUCT
From the beginning, the allure of China to Western businesses and traders has been its sheer size I. One of the points that the USTR mentions is lack of market access for US companies operating in China, while Chinese companies face much less restrictions operating in the US.

• China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from U.S. companies.
• China deprives U.S. companies of the ability to set market-based terms in licensing and other technology-related negotiations.

This is supported by remarks by Henry Paulson and Charlene Barshefsky. As Paulson remarked

Trade with China has hurt some American workers. And they have expressed their grievances at the ballot box.
So while many attribute this shift to the Trump Administration, I do not. What we are now seeing will likely endure for some time within the American policy establishment. China is viewed—by a growing consensus—not just as a strategic challenge to the United States but as a country whose rise has come at America’s expense. In this environment, it would be helpful if the US-China relationship had more advocates. That it does not reflects another failure:
In large part because China has been slow to open its economy since it joined the WTO, the American business community has turned from advocate to skeptic and even opponent of past US policies toward China. American business doesn’t want a tariff war but it does want a more aggressive approach from our government. How can it be that those who know China best, work there, do business there, make money there, and have advocated for productive relations in the past, are among those now arguing for more confrontation? The answer lies in the story of stalled competition policy, and the slow pace of opening, over nearly two decades. This has discouraged and fragmented the American business community. And it has reinforced the negative attitudinal shift among our political and expert classes. In short, even though many American businesses continue to prosper in China, a growing number of firms have given up hope that the playing field will ever be level. Some have accepted the Faustian bargain of maximizing today’s earnings per share while operating under restrictions that jeopardize their future competitiveness. But that doesn’t mean they’re happy about it. Nor does it mean they aren’t acutely aware of the risks — or thinking harder than ever before about how to diversify their risks away from, and beyond, China.

What is interesting about Paulson's speech is he spend only one sentence about displaced US workers, and a whole paragraph about US business operating in China. While Kissinger writes books about China, how much does he contribute to both Democrats and the Republicans during the election cycle? China is increasingly makING it more difficult for US companies operating and those exporting products to China.

CONTINUED

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Macro Trading Has a New Power Tool: Peer to Peer, Counterparty Risk-Free Swaps for Value Transfer & Trading
Trade the value of over 45,000 tickers of instruments in every asset class from every major geography and exchange with up to 10,000x pricing leverage without concerns of counterparty/credit/default risk or margin calls. Very big claims… substantiated by a very big discovery in value transfer and security.
Veritaseum is the worldwide leader in the financial implementation of “smart contracts” – unbreakable, self-executing bilateral agreements between two or more parties. We use these smart contracts to create peer to peer swaps for the transfer of value through the “blockchain,” a worldwide, open ledger of pseudonymous transactions that can be seen and audited by anyone, any time in the cloud. The blockchain is considered unhackable and one of the most secure implementations of cryptography to date.
With the use of financial “wallets”, client side applications that use a simple interface to guide users in the quick (as in minutes – enter ticker(s), amount to risk, collateral, expiry and leverage required) creation of a smart contract (in this case a P2P swap), users trade OTC directly with other parties – totally bypassing and intermediating exchanges, with even less risk. Monetary value is committed up front, a leverage factor is digitally dialed in (anywhere from 2x to 10,000x) and the smart contract is created and sent to the blockchain to await a match. Once matched, the funds are locked into the transaction until expiry, at which point profits and losses are distributed along with principal and unused collateral (the capital chosen to be put at risk). A novel, risk averse, extremely powerful, and quite frankly - ingenious way to trade macro strategies.
Not only can one go long or short any ticker in any asset class from any region for any currency, one can go long one ticker relative to another. For instance, those with a bearish outlook on the S&P 500 normally short it for USD. You can now short (pay) the S&P 500 index directly while going long (receiving) Eurozone equities (or 10 year treasury yields, or Swiss francs or the CNYJPY pair or bitocin), in a single transaction – with or out without leverage.
Since the exchange is peer to peer, we never hold or control any of your assets, hence you are not exposed to our balance sheet, credit, default or counterparty risks (the blockchain is your effective counterparty). Veritaseum is a software concern, not a financial concern or intermediary! You can always track your assets and trade through the blockchain at any time. The capital is loaded in the wallet in the form of bitcoin, and for those who choose to minimize exposure to bitcoin market price volatility, leverage can be used to nearly eliminate the noise. You can also conduct trades using a demo mode and test coins, so as to use the system without risking actual capital.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/5th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:

• are never exposed to us as a counterparty, we make the blockchain your counterparty
  
• never have to worry about our capital reserves or the capitalization/credit of your initial counterparty (all trades are fully funded at the outset, even a heavily levered trade at 10,000x),
  
• You never have to worry about negative drawdowns, negative equity or margin calls
  
• If a catastrophic event were to occur, say bi-coastal earthquake takes out our datacenters on the east and west coasts simultaneously while a meteor hits the backup center in the midwest, you will still be able to recover you funds - on your own. Since we do not have possession of your funds you don't have to worry about us absconding with them nor getting blown up with them. Each trade has a catastrophic rollback feature which will put you back into your original funding position n-time units after expiry. Unfortunately, you will not be able to complete your trade, but if two bi-coastal trades hit at the same time as meteor to the mid-west, you may not be studying that EUR short anyway :-)
  

This is just the beginning of what is capable with our Internet 2.0 business models.
I implore you to download our:

• tutorial (which needs to be updated)
  
• spreadsheet based trade model to assist you designing your own custom made swaps before committing capital
  
• • and of course, the UltraCoin BTC wallet for Windows - or - Mac & Linux, which doubles as the trading client. The wallets have a "Demo Mode" which allows you to trade on testnet if, after using the spreadsheet modeler, you are still not comfortable committing live coins. You can get the demo (testnet) coins here.

There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any individuals or entities looking to provide liquidity to the system, individuals/companies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:

• 1. Reggie Middleton via Wikipedia - 1.
• 1. How Blockchain Technology Reduces Wall Street Risk & the Fallacy of Too Big To Fail!- 1.
• 1. How Reggie Middleton is Looking To Take the Risk Out of Wall Street - 1.
• 1. How Reggie Middleton's Start-up Patented The Future of Global Finance
• 1. A Simple Apple Trade Using A Pure Bitcoin Wallet: The UltraCoin Client 1.
• 1. A list of many (but not all) of my calls and mentions in the media

Cordially, Reggie Middleton CEO, VeritaseumTM Inc.