China tees up G20 showdown with US

FINANCIAL TIMES ^ | 11/5/2010 | Alan Beattie

[Skepolitic]

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China has curtly dismissed a US proposal to address global economic imbalances, setting the stage for a potential showdown at next week’s G20 meeting in Seoul.

Cui Tiankai, a deputy foreign minister and one of China’s lead negotiators at the G20, said on Friday that the US plan for limiting current account surpluses and deficits to 4 per cent of gross domestic product harked back “to the days of planned economies”.

[Skepolitic]

EVEN THE CHINESE CRITICIZE OBAMA ADMINISTRATION POLICIES AS HARKENING BACK "TO THE DAYS OF PLANNED ECONOMIES".

As a deputy foreign minister of the Chinese government run by the Communist Party, Cui Tiankai knows a thing or two about socialism. We've been accurately characterizing the Obama Administration as socialist for two years now, and the Left has responded with loud and insulting denials.

Now that even highly accomplished, communist-trained experts agree, maybe American leftists will shut up?

[todd_hall]

Communism(much like adversity) is one of those things that every people should get a taste of. It builds character and prevents future acts of mass stupidity.

[bert]

Chicaps 10
Americoms 0

[Texas Fossil]

Adversity employs great talents; prosperity renders them useless and carries the inept, the corrupted wealthy and the wicked to the top

May they bear in mind that virtue often contains the seeds of tyranny

May they bear in mind that it is neither gold nor even a multitude of arms that sustains a state but its morals

May each of them keep in his house, in a corner of this field, next to his workbench, next to his plow, his gun, his sword, and his bayonet

May they all be soldiers

May they bear in mind that in circumstances where deliberation is possible, the advice of old men is good but that in moments of crisis youth is generally better informed that its elders

Denis Diderot

Apostrophe to the Insurgents, 1782

[Uncle Ike]

bttt

[seowulf]

Good quote.

So, any thoughts on what can we use as our Bastille when the time comes for lopping off heads?

We can only hope that deliberation is still possible. If not things can go "French Revolution" very quickly. The youth are not generally known for their kindness and gentility.

[HangnJudge]

Now
All that needs to occur is for
China to de-couple the Yen from the Dollar

The Dollar drops like a rock
Our Markets Crash

The Equities held by China would
depreciate to noise

but it would probably be worth it to the ChiComs
For the USA to devolve to a fiefdom

[Texas Fossil]

Thanks.

I like the quote and it does not seem to be out of place today.

Not a fan of what happened in France during their revolution, but that is another issue.

Our success was better and more lasting than the French. The morality portion of the quote is still applicable. Armed Citizens are still important. The better informed youth, is in dispute today. But I think in some cases that is still accurate too, unless you are talking about College students who have been “programmed” by the lefties.

[seowulf]

That morality issue is absolutely essential.

Without morality there is no restraint when it all blows up. It makes for very dangerous times.

I just hope there’s enough morality left to keep us civil (and I believe there is).

[Texas Fossil]

our Bastille

I think the "heads" that should roll are government jobs, not people (although some deserve that). It is time to DownSize DC! That is a good place to start.

Close entire departments beginning with the U.S. Dept. of Education (totally worthless)

Force Congress and Senate to telecommute most of the year from their home districts. Away from the lobbyists and under the thumb of the electorate. Can you imagine the cost savings and it would completely change the center-of-gravity for the Federal Government.

The Texas Legislature meets every 2 years unless the governor calls a special session. That has worked well for a very long time.

[seowulf]

I think the "heads" that should roll are government jobs, not people (although some deserve that). It is time to DownSize DC! That is a good place to start.

Excellent suggestion for a Bastille!

Let the metaphorical heads roll. It doesn't mess up the carpet nearly as much.

[ALPAPilot]

If we didn’t have such a huge budget deficit, then we wouldn’t have to sell the Chinese huge quantities of T-Bills. They would lose the ability to buy dollars in the exchange markets (unless they liked stuffing their dollars in their matresses). This would make it much more difficult to keep the RMB undervalued and thereby keep Chinese products cheap.

The Dimocrats would like you to believe higher tariffs and exchange rate agreements can fix the imbalance. The real answer is: stop the deficit spending; eliminate the corporate income tax; enact tort reform; get rid of the EEOC; ditch most of the nonsensical regulations that tie the hands of business.

[rob777]

"All that needs to occur is for China to de-couple the Yen from the Dollar"


That would be quite a feat considering that the Yen is the currency of Japan.

[HangnJudge]

the Yen is the currency of Japan.

Idiot
...Pounds fist against own head

Yuan

[rob777]

"Idiot
...Pounds fist against own head

Yuan"


I do that a lot when my typing is unable to keep up with what I am thinking. :-)