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.
With that post, I dub thee "murrymom II" and will doubt your opinion on most anything.
It's been fun.
Infuriating, elitism at it's ugliest.
Other then Boeing aircraft, most of the stuff we make that fuels exports is food and food products, parts to be reimported after overseas assembly and lastly a big hit, disasemblied American factories (machines) to be sent overseas to make there what we once made here.
Would you do business with a local merchant that hated you and was saving his monies so he could hire a thug to do you in? If you are retired that you should remember victory gardens and such. You sound very selfish, many young Americans are going to die becuase of attitutes like yours.
They are "priming the pump, once they build any kind of a domestic market, they will not need the American market do continue thier expansion, but they will need resources. You can easily guess what happens next.
They are "priming the pump, once they build any kind of a domestic market, they will not need the American market do continue thier expansion, but they will need resources. You can easily guess what happens next.
This applies to the anti-free traders also. USA - we've got ours, screw you. No you can't have access to our markets, we want to keep you poor.
Lots of McDonald's Happy Meals, too.
Unlike many who post on this forum about manufacturing and trade, I actually make my living there.
To get to my office to look through email and FR on break I just walked past a lot of spindles cooling in our heat treating department. These will be assembled locally into sugar beet harvesting equipment and loaded into containers for shipment to the Ukraine. Though we are almost completely hobbled by our government, you must keep the faith. It does happen.
Actually the exact opposite is the truth. If one uses traiffs to give domestic producers a level playing field or even an advantage then the creation and distribution of wealth stay in the country which tends to make everyone richer. If have a great deal of experience in building weath creating domestic industries by protecting then from unfair foriegn competition with traiffs and such. It has worked well and could work well again. We have only 20 or so years experience at open borders, open market, "free trade uber allis" and we are getting our clocked cleaned and about to be over taken by the protectionist rising super powers of China and India.
One would be idiotic not to insist on at least a through and fair review of all these trade agreements that are sucking the life out of our domestic wealth producing industries.
Other then Boeing aircraft, most of the stuff we make that fuels exports is food and food products, parts to be reimported after overseas assembly and lastly a big hit, disasemblied American factories (machines) to be sent overseas to make there what we once made here.
In order to prevent collapse of the US dollar, we need to balance our foreign trade, and even get a surplus. Since our trade deficit is over $700 billion, we need to increase our exports by at least $800 billion each year
HOw are we gonna increase our farm and disassembled factories by that much each year forever?>
Free trade is not a new thing invented by American Capitalists. Europe practiced free trade over 120 years ago and it failed miserably. Any bets on history repeating itself?
Any government which violates the rights of it's citizens is a government of tyranny. It's a matter of degrees. Communism is one of the worst. China seems to have a hybrid. Communism which allows some economic freedom and private property. It is heinous , but at least seems to be moving in the right direction.
This country (US) was a free market, capitalist country with almost absolute property and civil rights. It is now a hybrid as well. Part capitalist, part socialist, and an ever increasing fascist component. It is still fairly good, but sadly going in the wrong direction.
While all this is happening, many people are focusing on the childish approach of vilification of others, (Chinese to be sure, but all other third world countries, IE Mexico and Latin America) and hating companies like WalMart. It's past sad.
And if you see things the way I do, you are an America hater.
It may seem like a bizarre analogy , but I think free trade advocates have much the same problem as Muslims in this country. Where other nations have abused the concept of free trade (and there are plenty) those who advocate FT should be the first to call them on it, instead we hear only silence. It makes one wonder what side you are on.
I am curious what you think should be the approach the US should take with China's currency manipulation?
Come on the dollar isn't going to collapse, it is one of the most stable currencies in the western world. If I had to make a list of western currencies likely to collapse, the dollar would be far from my mind.
It was not so labeled. My discourse covered the descriptors usually used, yours listed none of them. And anyways, even using BLS numbers, we have already heard the proverbial "13th Stroke of the Clock"...and have as Mark Twain said, exceedingly grave doubts about the accuracy of the preceding twelve. Just look to the issue of motivations. E.g.,
Yada yada yada, "because the GOVERNMENT tells you you're better off than ever"....yeah right.
How about first subtracting that Government Debt from the "Good Times", GDP? Cheap credit has masked the major problems. This has proved to be America's version of "muddling through."
IMHO, it Looks like "Party time" is just about over. I suspect major price shocks are imminent and Inflation will become again the big bugaboo in Washington, because employees are not going to sit still for $3.00/gallon gasoline and $16/lb sirloin...without demanding wage increases...triggering the dreaded "spiral." And until the destruction of US production and productivity is ended (the "Production Holiday") and import-dependence is ended, we will likely descend into and persist in a serious stagflation.
It was not so labeled. My discourse covered the descriptors usually used, yours listed none of them. And anyways, even using BLS numbers, we have already heard the proverbial "13th Stroke of the Clock"...and have as Mark Twain said, exceedingly grave doubts about the accuracy of the preceding twelve. Just look to the issue of motivations. E.g.,
Yada yada yada, "because the GOVERNMENT tells you you're better off than ever"....yeah right.
How about first subtracting that Government Debt from the "Good Times", GDP? Cheap credit has masked the major problems. This has proved to be America's version of "muddling through."
IMHO, it Looks like "Party time" is just about over. I suspect major price shocks are imminent and Inflation will become again the big bugaboo in Washington, because employees are not going to sit still for $3.00/gallon gasoline and $16/lb sirloin...without demanding wage increases...triggering the dreaded "spiral." And until the destruction of US production and productivity is ended (the "Production Holiday") and import-dependence is ended, we will likely descend into and persist in a serious stagflation.
What are my choices?
The previous comments indicate a fundamental misunderstanding of what inflation is and what causes it.
You mean as it is defined on FR?
I hate the America that we have become. A nation of whiners, quitters, nanny state advocates, sky is falling chicken littles running to those in authority "they hit me, make them stop, it's not fair!"
Heinlein was right, we NEED space exploration to weed out the gene pool. The weak stay home and the men and women with backbone immigrate and propagate.
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