Posted on 11/23/2004 10:15:33 AM PST by CDB
“That is not sustainable,” he added. “The appreciation of the RMB will not solve the problems of unemployment in the US because the cost of labour in China is only three per cent that of US labour. They should give up textiles, shoe-making and even agriculture probably."
Typical childish nonsense. If I robbed you of $10, your life would go on, but your rights would have been violated and a portion of your freedom destroyed. You think like a liberal.
Many developing counties do the same thing to achieve the appearance of stability and to gain the confidence of investors.
I say to solve our problems we ought to slap a 20% tariff on ALL imported goods, like Pres. Washington advised in his day. I'm sure the Chinese wouldn't mind having that tacked on to all the junk they sell to Walmart Then our balance of trade deficit wouldn't be so ridiculous and we might be able to employ more of our own people in manufacturing again. By the way, I DON'T want Chinese communists in charge of my food supply, thank you.
Like current Japan for instance?
No, this is done by Asian merchantilists for one reason only, to gain a trade advantage. China additionally seeks to undermine our defense industrial base.
so, when does it end? china has gone beyond the "confidence" stage, they are sucking up all investment from western companies relocating there. and its not just toys, and xmas tree lights, and cheap consumer electronics and appliances anymore. its semiconductors, machine tools, major automobile subassemblies, aircraft subassemblies, etc.
its gone way past an "appearance of stability and investor confidence". china is engaging in a trade war against the US, and the peg is how they are doing it. and like a bunch of dopes, our political leaders handed them the keys to the kingdom with all these free trade, GATT, WTO, and MFN agreements - without first demanding the peg be removed.
you also can't buy a $9 DVD player assembled by slave labor in africa, you have to pay $39 for the chinese ones. were you "robbed" of $30? your rights violated? a portion of your freedom destroyed?
we can't use tariffs against them, we gave away our rights to do so when we entered into GATT, WTO, MFN and the like.
don't kid yourself, its american companies who want this too - and have paid alot to buy it from our political class.
It is more complex than you might think. I read that the US actually imported corn from China in 2003. We should not need their corn, but the Markets have caused things to be quite competitive, and so corn growers move into other fields (no pun intended).
On the other hand, China imports from the US a lot of chicken feet. It is some form of a delicacy over there. Life is strange
I agree, but coming off the peg isn't so simple for them. They've still got a banking system that they need to clean up. They'd probably like reassurances that we won't try to squash them if they go through a temporary financial crisis, and it would probably be in our best interest to give them that reassurance.
One irony is that while the US is a massive exporter of cheese around the globe, there is a chronic problem of the dumping of "American" cheese in the US by other countries. We export unimaginable quantities of cheese, hundreds of different varieties, and the only kind that gets dumped in this country by foreign countries is "American cheese". So other than a few niche European imports, every cheese you get in the US is made in the US, except for "American cheese", which is made in some second-rate country with a dairy program by the ton and dumped here for pennies.
Incidentally, the US has taken aggressive action against the cheese dumping at the WTO, getting permission for steep tariffs on the American variety.
LOL
1.You'll love Wisconsin. I did when I lived there and still return often.
2.This country has a massive foreign debt that can only be repaid in manufactured goods, thus people like your husband who are skilled in making things will be properly valued in the future.
you need to take your medication.
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