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.
So far I have been accused of being a communist chinese plant to influence Free Republic for taking the free trade position. (So far)
Now Free Trade advocates are being lumped with the Islamofacists?
I'm building quite the resume!
I don't see a problem, inflation can be triggered by a number of factors, including that example.
Great isn't it?
BTW, for me, it's not a free trade issue, it's a freeDOM issue.
These folks refer to countries, and yes even continents as if they were individuals.
"What should we do?" and "Us against them".
It's not two people agreeing on a mutually beneficial transaction where both get what the want, it's a small group of elitist "we know whats good for you" that make the decisions.
Another point. Some of these people no doubt would describe themselves as Christians. I always wonder how they reconcile their Christianity with their advocation of forced policies which say that people in some countries are entitled to live at a certain level while those in another country are lesser and don't deserve a chance to make a living. WWJD?
You draw a line in the dirt with your foot, and anyone on the wrong side of it can eat the dirt while the others trade among themselves as long as they are in collusion that no one will compete on the price of their labor too vigorously.
Which confirms the fundamental misunderstanding.
inflation can be triggered by a number of factors, including that example.
Incorrect. Inflation is not rising prices. Or upward price pressure.
Rising prices and upward pressure are symptoms of inflation, not causes.
"Inflation is everywhere and always a monetary phenomenon".....Milton Friedman
The example states that higher production (labor) costs could trigger inflation, because of a likely demand for higher wages.
No Logo
In case you do not know what a free market looks like. Here is an example - the free currency market of free people in the US and Canada;
Trying to compete against China is like playing against a stacked deck. Maybe you would have a better understanding how American firms feel as they are told they must produce for the "Chinese" price.
The example is incorrect.
Inflation is a monetary phenomenon.
In other words, the inflationary aspects of a product or service must be based on a unit cost, not an overall cost. In the context of the examples you cite in medical care, the only way to accuretely assess inflationary trends is to look at the specific costs associated with those treatments and not the overall cost of insuring people. How much does a hip replacement cost today vs. in 1970? How about treatments for high blood pressure, or diabetes? If we're using these things more frequently today than in 1970, then we should expect to see health care expenditures rise.
Quote: 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!"
O.k. I'll proudly wear the label chicken little label if it means I'm in a group that is very concerned about twin deficits spiraling out of control, borders that leak like a sieve and losing our manufacturing base that made this country so great...Concerned that we are going to have a large segment of the population one day comprised of grass cutters, travel agents, mortgage brokers Lowes/Home Depot aisle clerks and car detailers .
Rather be this way than an "Ostrich Optomist" any day that as long as things are going good for them they don't give a care to any of their fellow citizens.
That's exactly why China can't go to war with the U.S. anytime soon. You can't "call in all the U.S. dollars you hold" if your assets are nothing more than Treasury bills that will become worthless the moment the country in question decides it wants to default on them. If China were to go to war with the U.S., it would be the equivalent of a bank lending you $500,000 for a new home with no insurance coverage -- and then hiring an arsonist to burn it to the ground.
Really? You have any stats that back up your theory? Or you making stuff up again?
Well, maybe it's just me, but I never even got on an airplane until I was well into my 20s -- and that was pretty much the routine where I lived. We simply didn't travel that way when I was a kid.
JPSB is correct. However I do want to add pharmecuticals to the list that cuased our exports to go slightly higher.
I will post the chart later tonight that shows for the most part all our exports were down last year except for Food, Pharmecuticals ad transporation like airplanes.
Just about everything else on the export list like electronics, computers, machine tools etc has been going down every year.
Oh, well if you say so, it must be true. LOL!
Why don't you prove it with a link? Or would that show you were both wrong? Take your time. Thanks.
Did I not say I wil post it tonight? Some of us have to work.
Putting up huge trade barriers and starting a trade war in order to cover up the fundamental reasons for this countries inability to compete?
Bashing consumers for buying the goods they want at a price they want to pay as if they were different people than those who are supposedly losing jobs that they desire?
Bashing people in other countries for the crime of trying to earn a living?
Pretending that poorer countries can ever buy more from richer countries than they sell to them?
Pretending that this country couldn't ramp up production of any damn thing we want to produce, from pajamas to steel if the need or the desire arose?
Pretending that we have vast numbers of unemployed when the current unemployment rates are within a percent of practical full employment?
Pretending that the other biggest bugaboo on FR, illegal immigrants, are coming here in huge numbers because there are no jobs here?
Any of those points?
Or do you want to talk about currency valuations? Because this thread isn't about currency valuations, it's about laying blame. It's about pretending to be a good American by doing precisely what liberals do, feel-goodism, while calling others traitors for not buying into all that BS.
You haven't done most of those things and I sense you are way too intelligent to do so, but respectfully, you have missed the point of this thread IMO.
LOL. Sorry. I usually read your posts until you say something silly. Then I stop.
This thread is titled China June trade surplus swells five-fold, is it not? Set currency valuation is one of main tools the Chinese use to restrict their markets and provide predatory pricing in the American market. You can either answer to this or be dismissed as a flak for them.
So you think I'm a flak for Communist China? Is that the question?
Because if it is, I'll be happy to give you an email address where we can exchange pleasantries off site.
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