Posted on 07/11/2005 7:27:02 AM PDT by jpsb
BEIJING (Reuters) - China's trade surplus for June swelled five-fold from a year earlier as exports grew much faster than imports, offering more ammunition for foreign critics who argue that Beijing should let the yuan rise in value.
The June surplus grew to $9.68 billion, exceeding forecasts of $8.0 billion and towering above the $1.8 billion surplus recorded for June 2004.
It was slightly better than the idea of giving most favored nation trading status to a nation that points nukes at us (and threatens to use them)...
I have never defended the "treaties" made by these thugs and the passing out of favors to certain countries. Carry your own baggage.
Doing what? And what is "fair" trade?
Quote: Please my father worked at GM for years and made nowhere near 70$ an hour. BTW way to call autoworkers monkey's... I cant believe free traitors are winning this debate with attitudes like that.
My wife worked in the Hamilton Ohio GM plant back in the late 70's during the summer while going to college. She said it was very hard work and really gets irked whenever she hears comments about how easy it is...ie a monkey could do it.
I've also noticed a snobish elitism from many free traitors over the years to blue collar workers in general..."let them eat cake"
So that blather about Americans don't make anything and nobody buys American stuff was just a load of BS? Thanks for clearing that up, but I already knew it was BS.
Well, if we go to war with china, they will call in all the US dollars that they hold, stop all shipments to the US, and stop loaning us the yearly trillion dollars to finance our trade deficit and our federal budget deficit. If we cant borrow a trillion dollars from china each year, who are we gonna borrow money from to buy the arms and supplies that we no longer get from the commies in china?
I suppose they put that $346,221,282,906.18 all in a pile and just sit and stare at it. Nudge each other and say "Wow, would you look at that! $346,221,282,906.18"
Look at it as spreading capitalism. I know no one will believe me that this is having an impact on reducing poverty, nor is it giving a glimpse of what is possible to the Chinese citizen getting his first taste of capitalism. You could try to believe me.
Is it all good? No, it is not.
Will throwing tantrums and threatening to take our ball home because the student has now surpassed his master going to do any good? No it will not. To remain in the master role, we must grow ourselves, not hobble the student to keep him from surpassing us.
This $346,221,282,906.18 doesn't just sit in a vacuum. The dollars are put to use buying goods all over the world. It is our economy that allows us to have this kind of trade imbalance and not really feel the pinch. I didn't get up this morning and say 'Wow! $346,221,282,906.18 trade deficit this morning, I might as well just go end my life as it is no longer worth living."
I really feel that it is Communist China that will wake up one morning and say "You know? Communism sucks, because people like to own things" (Thank you Frank Zappa - R.I.P.)
I guess you can explain how China will "call in all the US dollars that they hold"?
Our trade deficit is 3/4 of a trillion dollars a year, and growing, with no hope of building factories in america to produce things that people in other countries might want. If (foreign) people wanted american made goods, we would not have a 3/4 of a trillion dollar trade deficit.
China will dump all the US dollars that they hold on the foreign currency markets.
If (foreign) people didn't want American made goods, we would not have sold $800 billion worth to them a last year.
I've also noticed a snobish elitism from many protectionist/isolationists over the years toward anyone from a different culture in general..."let them starve to death"
YOu have a "Disney-fantasy-like" view of the chinese communist leaders.
Why didn't you say that in the first place? When you say that they will "call in all their dollars", you sound like an idiot.
Why shouldn't I shop at Walmart? They have the best prices on CD's, for one thing. Why shouldn't I shop around for the best price? Who are you to suggest I should feel guilty for shopping there? I'm retired and on a fixed income. Why should I pay higher prices for any item, just to satisfy someone else's concept of fair trade. It's none of your business...stay out of my wallet.
Japan's holding of US securities is quite a bit more than China's. China's total holdings at last report is 235 billion in securities and they can't "call it in".
China's holdings are about 1/3 of Japans holdings who hold the largest amount. China represents about 18% of the total outstanding securities.
If they go to war with us, they won't bother telegraphing the fact by dumping their security holdings with the US. Would you rather their surplus dollars be supporting Germany, France or South Africa?
People, or countries, that spend twice as much as they make each year, go broke.
America made over $11 trillion last year. If we bought $600 billion more from foreigners than we sold to them, that's only about 6% of GDP. Try again? And this time try to understand the numbers a little better.
Question?
What would China do without the US market?
You know all of the other ecomomies are just ripping along, lets crush the goose and make soup. These golden eggs are just a pain in the * and you can't eat them.
I think he was trying to say to buy American, to support america and its workers, instead of chinese communists. If you give your money to our enemy, communist china, it makes them stronger, and will eventually cost more american lives when we go to war with communist china.
For example, it would be bad policy(for a governemnt or a private individual) to have (financially) supported germany or Hitler in the 19200's and 1930's, which would have enabled him to build a super war machine.
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