China blasts U.S. over trade protectionism

Globe and Mail ^ | 23/03/06 | BARRIE MCKENNA

[Toddsterpatriot]

What you're seeing on these theads is the truth emerging about China

I heard a rumor that China is Communist. LOL!

[Old_Mil]

First, I did not include trade figures, imports and exports in my post. That was someone else, and indeed, another issue (on which you are no less wrong, by the way).

What I was zeroing in on was, as pointed out, the way China rips off American companies by tricking these companies into doing largely unpaid R&D work and investment for China without the long-term benefits that China promised when the companies made these deals.

Hence the Qualcomm example.

[defenderSD]

When you take a long, hard look at this issue, it is clear that China is engaged in a massive, coordinated, calculated economic assault on America. It's been going on for ten years and they're not close to being finished yet. We're in an economic war with the Chicoms whether we choose to use that terminology or not.

[Toddsterpatriot]

First, I did not include trade figures, imports and exports in my post.

My post #53 was in response to texastoo and his post about trade deficits. Wasn't talking to you or about you.

That was someone else, and indeed, another issue (on which you are no less wrong, by the way).

Please elaborate on my error.

[Toddsterpatriot]

When you take a long, hard look at this issue, it is clear that China is engaged in a massive, coordinated, calculated economic assault on America.

Yes, and it's obvious when you look at our $13 trillion GDP and their $1.5 trillion GDP, who's winning.

[jpsb]

BUMP

[dljordan]

"China has a tarfiff of over 20% on our goods - we have a meager 1.6% tariff on goods shipped here..who's being protectionist?? FRee Trade is the mantra of the corps but were do American products have FREE TRADE?? we are suckers losing American Jobs and Industry while a few in the Corp boardrooms get RICH on side deals with the Chinese and third world countries."

Thank you!

They put a 25% tariff on American autos coming into China. The proposed tariff for the new line of Chinese autos that will be imported to the U.S. is 2%. Is this Free Trade? I think that the majority of FReepers who constantly parrot "Free Trade" have a financial interest in this imbalance or have regional loyalties to the countries involved,
whether it be with China or our NAFTA, CAFTA, FTAA trading partners. We have been set up with the express intent of bleeding the U.S.

[dljordan]

"It's over for China."

It's not over. Remember the Japanese before WWII? Military expansionism is an option.

[defenderSD]

Well you know you and I are generally among the optomists on economic issues and we usually agree on economic threads. But I have to take exception with that here. One thing to keep in mind about those GDP numbers is that they're affected by currency exchange rates and because China's currency is manipulated downward, China's GDP appears to be lower than it actually should be using free-market exchange rates. The other thing to keep in mind is the trends in GDP growth and industrial production. Both of those statistics are much higher for China than for the US. Not that manufacturing jobs are the greatest jobs in America, but they are taking manufacturing out of the US, selling us many billions of dollars of products and buying far less in return from us. The only products they buy from us are things they can't steal from us or that they can't make themselves to world-class standards: microprocessors, Boeing airplanes, some heavy construction equipment, scrap steel, some farm products, and a few other limited purchases.

They don't pay their workers enough and they don't allow them to buy US products freely. Instead their state-owned companies make huge profits that they use to buy Russian military hardware for their eventual conquest of Taiwan. This trade "relationship" with China isn't working well for us. China has to make adjustments and start buying products from us in much larger amounts.

[hedgetrimmer]

China is engaged in a massive, coordinated, calculated economic assault on America

A technique called asymmetric warfare. And the so-called Americans like the CEO of Caterpillar Inc, are soldiers fighting for the chinese side.

[hedgetrimmer]

$13 trillion GDP and their $1.5 trillion GDP

And what was China's GDP before the WTO was created?

[dljordan]

"You might have a incorrect conclusion. Boeing and China have had a close relationship since the 1930's. Boeing's first seaplane was designed by a Chinese engineer."

Are you Chinese? Are you involved with international trade or finance? Do you make a significant amount of your income through the trade imbalance with China?

[defenderSD]

I'm not sure I would call them soldiers for China, but I would call them dupes of China. They're being very cleverly wined, dined, tricked, and trashed by China.

[defenderSD]

Notice how we with no vested interest in Chinese economic growth are able to see all of this clearly.

[Toddsterpatriot]

The other thing to keep in mind is the trends in GDP growth and industrial production. Both of those statistics are much higher for China than for the US.

Yes, they have higher GDP growth, if you believe the numbers put out by Communists. As far as industrial production, have you seen this graph?

[Toddsterpatriot]

And what was China's GDP before the WTO was created?

I don't know. What was America's GDP before the WTO was created?

[Toddsterpatriot]

We have been set up with the express intent of bleeding the U.S.

And it's working, look at how much smaller our economy is than it was in 1994.

[1rudeboy]

Notice how we with no vested interest in Chinese economic growth are able to see all of this clearly.

Notice how quickly you imagine that the rest of us have an interest in Chinese economic growth.

[Toddsterpatriot]

Notice how we with no vested interest in Chinese economic growth are able to see all of this clearly.

The only interest I have in Chinese growth is the hope a Chinese middle class will overthrow the Communist government.