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.
Only 5 replies? Article must have not fit the pessimists agenda.
http://www.freerepublic.com/focus/f-news/1436052/posts
Chinese City's Allure Fades for Some Firms
DONGGUAN, China — Thousands of foreign businesspeople, primarily Taiwanese, helped turn this southern Chinese city into one of the world's busiest export manufacturing centers.
Now, amid rising wage and pension costs, energy shortages, tighter government regulation, traffic bottlenecks and other concerns, some of them are starting to look elsewhere. Their restlessness reflects a dark side to China's economic boom, as growth pains and other issues prompt companies to reconsider starting up or expanding in China.
Chang Han Wen is having second thoughts. He came here from Taiwan in early 1991 when the area was still largely farmland, launching a shoe assembly line with 200 workers. He has since opened five factories, including three shoe plants that employ 3,000 people and produce 1.5 million pairs of specialty boots and high-end shoes a year for export to the United States and Europe.
But his sixth plant, a garment operation, sits empty. Chang has indefinitely postponed its opening, anxious about China's tense trade relations with the West and the threat of more quotas that would limit clothing exports. That's only part of his worries.
This year Dongguan's minimum wage jumped more than 27%. Even with the increase, employers are struggling with worker shortages. Government inspectors are making the rounds at factories, enforcing work-hour rules and pension contributions that officials paid little attention to in the past. Electricity is in short supply, as is fuel.
Walmart was the store that started the massive move to cheap Chicom goods, since Wal-mart was kicking Target and others butts with cheap Chimcom goods all the stores had to go to Chicom goods too, either that or go belly up.
We are seeing the same effect (industry after industry dying) happen all thru out our economy, there is another thread about how Chicom oil drillers are being imported into the usa to drill our oil/gas wells. Seems America was lost the ability to drill it's own wells. Thanks again free traders.
Oh, so they aren't competitive. I see. They can't compete so they don't get the business. I guess that just happened,,,no problem with the laws and such,,,nope, just those bad old other people in the world who can do it better,,,by accident. Those jobs are worth 88 cents, we don't choose to do them, it's simple.
Glad you always stick up for america and it's workers ...NOT!!
Are they special? Why would I stick up for crooked politicians and bad policies?
Glad to see that you are going to do even more shopping at WM.
I can't wait!
Are you even American??
I'm a US citizen, yes.
I've never seen one of your replies that sticks up for americans or our way of life.
Our way of life? You mean the current one? Or what it was before and was meant to be before thugs with guns forced us to be uncompetitive with the rest of the world?
Has it ever occurred to you that Americans don't value those jobs enough to do something about it? That they would rather write computer programs and invent things than manufacture disposable goods? That if they really wanted those jobs they could throw the thugs out of office and change the laws so those jobs could be done here again? They don't want it enough Bunky, when they do, it will happen.
The thing that really gets me, is those that tell us that America will move from a manufacturing economy to a service economy. Then we allow low paid illegals to swamp the service industry. In WWII, we won because of manufacturing. Next time we lose to the country with the factories. Nearly every war is decided by who can produce the war machines most quickly. The north beat the south because of the factories, the germans beat the french and british for the same reason.
In name only, you are really an America hater.
Nonsense, prove it.
We are seeing the same effect (industry after industry dying) happen all thru out our economy, there is another thread about how Chicom oil drillers are being imported into the usa to drill our oil/gas wells. Seems America was lost the ability to drill it's own wells. Thanks again free traders.
Maybe you should focus on getting rid of socialism and fascism in this country instead of griping about somehow being entitled to make more money than the rest of the world. Just a suggestion. But I don't expect you to do that anymore than I expect workers to actually get competitive rather than go to government thugs and get them to point guns at people. It's just easier to use violence.
BINGO! We have a winner. This is one of the key reasons that correcting the currency deflation with China is problemmatic. That is not to say we should not force it. But it needs to be coupled with a recognition that the Chinese Communists are at war with us, and they are succeeding mightily because we let them.*
We need to couple this with additional restrictive strategy, i.e., also deploy immediate MFN revocation, deny them access to core capital accumations and technology, and U.S. strategic assets. They would be forced to use their dollars to buy U.S. goods. No more treasury sales. Chinese students should be expelled unless they wish to defect. Chinese front firms would be expelled and their operations decommissioned. Technology diffusion to China should be stopped altogether. Any ally wishing to trade with us has to comply. End of story. Tell them flat out, "choose this day, whom ye would serve."
*In football terms the Chi-comms have a huge defensive line. And because their offense was limited, we told our defensive unit to not even bother to suit up, that our offense would more than make up for any shortcomings. Well this lame thinking (typical sentimental liberal sludge to make things "fair") had the predictable results, as the Chi-Comm defensive unit pulled out machine guns and hosed down our offense. And their offense thence has been marching the ball effortlessly all the way across the field from goalpost to goalpost...and we are just now realizing it might time to tell our defensive unit to suit and get the heck on the field... for a goal-line stand at least. And, oh, since the dirty tricks are likely not over, better bring the machine guns, howitzers, M1-A1 Abrams tanks, B-2s,and also how about some Peacekeeper missiles (currently prematurely retired). Then that defense will have to start scoring points too. Thanks a lot .phoney free traders
Go to hell.
I never said there was an advantage to the US having a deficit. You sure as hell haven't shown me there is a disadvantage. Perhaps you prefer Germany's economy which has been running a trade surplus for a very long time?
Please explain why. Thank you.
We have lost too much of the basic manufacturing infrastructure to do so. Take for instance the great American machine tool industry that led the world into the 1980's. It is no more.
As far as your call to "get competitive" it is a great challenge when shackled by a government that seeks to regulate and tax the productive and one whole political party is bought and paid for by belligerent unions.
bing
Oh, I see,,we can't rebuild it.
Take for instance the great American machine tool industry that led the world into the 1980's. It is no more.
Why?
As far as your call to "get competitive" it is a great challenge when shackled by a government that seeks to regulate and tax the productive and one whole political party is bought and paid for by belligerent unions.
Ummm, I never said to get competitive. I said we weren't. The reasons are the ones you just named. Now,,,what do you think is the right way to fix the problem? Change the government policies,,,or get them to start a trade war?
So far, we still live by a popularly elected government. If the people want to be UN-shackled, they can be. It's up to them. If they don't value it enough, they won't. It's simple.
>the germans beat the french and british for the same >reason.
Eh?
I distinctly remember it was the Brits who help dictate
terms to the Germans in 1918 and it was Brits sitting on
the victor's side of the table at Rheims in 1945.
More crying and trying to place blame on others by our politicians, blaming a low yuan. They are starting to remind me of Euro politicians who try to blame America for all their problems.
China's total imports in 2005 - 560 billion dollars.
China's total exports in 2005 - 590 billion dollars.
Hardly sounds like a nation with an undervalued currency.
That is where the focus of policy makers should be.
Think about this, in the 50's we had by far the highest wages and benefits on earth. Yet no one could compete with our manufacturing!
I agree with your statement about two household incomes vs. one, but the standard of living in the U.S. is exponentially higher today than it was in 1970.
Hell I'm even starting to wonder if the government has given up so much control to the globalists and corporations they are no longer able to take action on many major issues. It's starting to look like they're not going to fix it until it really falls apart. I guess we just need to get a firm grip on our ankles and take whats coming.
(US per capita gdp in 2003 dollars)
1960 - $14,960
1965 - $17,748
1970 - $19,879
1975 - $21,575
1980 - $24,500
1985 - $27,435
1990 - $30,729
1995 - $32,564
2000 - $37,572
Let's see, I've forgotten: the Chinese don't have a Bill of Rights or basic human freedoms, do they? They re-educate Christians, right? How is sending them so much capital different from buying cotton from the antebellum South?
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