Posted on 03/23/2006 3:57:28 AM PST by John Filson
.......................1982.....1992.....2001.....2002
China GDP.........221 .....454..... 1,167.....1,232
US................3,227.....6,239 .....10,057.....10,039
In 1946 our GDP was $222 billion. It took us 27 years to get to $1,307. It took China about 10 with generous help from "free traders" in the white house and Congress and the American taxpayer. So who really is winning?
Aren't you the financial genius? Why don't you enlighten us?
Not that I don't trust you, but how about a link to the info you're posting?
No, are you a bigot?
Are you involved with international trade or finance?
Yes I participate in trade with other countries and I have bank accounts in other countries.
Do you make a significant amount of your income through the trade imbalance with China?
Probably less than most. I have no debt. If you have any debt it is finance by the sale of foreign securities. However I have imported and exported to the UK, Egypt, Indonesia, China, India and Chechosovoica. I also served and fought in the US military to preserve the freedom of US citizens. That includes the right to free trade. I have already lived through part of the era of protected trade. When you provide my products made by a US company in the US at the same price I will trade with you. However when you provide me with a union I can't afford and tariffs that would put me out of business I will trade elsewhere.
How do you make your living?
You want me to admit that trade helps grow GDP? Okay.
That's not what I meant. I'm talking about people in Washington who have an interest in "good relations" with China and therefore want to help China achieve higher economic growth at our expense. Some of these folks also get lucrative jobs after they retire with think-tanks funded by foreign countries. You and I have no such interest and thus we see this issue clearly for what it is.
" How do you make your living?"
I handle storage management for a large credit corporation. And no, I'm not a bigot. You're trying to defuse my question by using the word bigot thinking that it's going to shut me up. Try using the "R" word next time it usually works for the other race-baiters on the forum.
On the other hand, thank you for the honesty of your answers.
I don't know. What was America's GDP before the WTO was created?
In the 1800's China's GDP was 30% of the worlds GDP. By the 1950's it had decresed to 2%. It has been rising every since.
"We have been set up with the express intent of bleeding the U.S."
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>..........
correct, much like the Dubai ports deal, American's can be fooled alot but we have very good gut instincts on the BS of Globalism and misnamed "free trade".
I think the problem is more with jobs than with industrial production output. Much of our growth in industrial production has been in items produced almost entirely by machinery: chemicals, construction materials, electric power, etc. The issue is that we're losing a lot of skilled & uskilled manufacturing jobs to China, which IS hurting some sectors of the middle class. I'm not one of these eternal alarmists who've been saying "we're losing our middle class" for the last fourty years (LOL), but manufacturing people have been hurt by China and there hasn't been enough offset to help our middle class from China buying products from our strongest industries: technology, software, and entertainment products.
Don't worry about the %, look at the total $$$ amount.
I think the problem is more with jobs than with industrial production output.
Yes, higher productivity means we make more stuff with fewer workers. You think that's bad?
Well aware of that and you should examine the reasons. If you produce 2 million cars in the US but can only sell 500 thousand in the US you either have to export them, put factories in other countries if that is too expensive or go broke. They have a much larger market. Westinghouse is selling out its nuclear technology. The US decided they couldn't use it here and Westinghouse should go broke. Our GDP gets larger every year, not smaller. You still have the option not to trade with them.
Energy stocks are hot today; oil is up $1.83 per barrel as of 30 minutes ago. Something must be heating up with Iran. The fundamentals for oil are not that good without Iran in the picture, so this is probably Iran again. I'm trying to find out what happened.
Higher productivity is of course good, but when we run a $200 billion trade deficit with China that shifts jobs to China from America. They have to start buying more stuff from us (and paying for it...lol.)
They do business only in the US?
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