Are You For Sanctions Against China For Currency Manipulation?

When I first heard that Congress is trying to pass a bill to impose trade sanctions again China for manipulating their currency value, I was ecstatic. While I do believe trade with other countries can be a good thing, I believe things have gotten out of control. It seems like this recession is FORCING us to address all of our serious problems including deregulation of banks. Hopefully we can tackle our next big problem which is our TRADE DEFICIT. Are you for sanctions against China? And what do you think the consequences will be? Some people think this could be the beginning of a trade war. To be honest, I think that trade war started 20 years ago.

 

nah you haven't seen trade war yet. china can retaliate by selling large amount of t-bill through international market. this will reduce the value of $$$, make all the stuff we buy more expensive. china can also stop buying certain products or implement their own tariff on certain products, for example they can set higher tariff for US auto import and other products or buy airbus airplane instead boeing. i'm more in for incentive for company stay in US rather than tariff. maybe tariff on certain mid-high tech products, but certainly not low-tech products like shoes, t-shirts etc.

 

We have to do something about this NOW. Even if that means COMPLETELY cutting all trade with China. I think most Americans, rich and poor, would agree with me on this one. The purpose of trade is to get money moving - not to allow some communist country to come in and STEAL from us.

 

Negotiate, Negotiate, Negotiate.... And Keep Negotiating.

 

ok let me ask you this. if we rise tariff on chinese good today. what will happen when you go out to buy things? the goods you buy will likely to be more expensive. company will shift jobs to vietnam rather than china. so bascially we have about same amount of unemployment but our goods just rise by 20%. cut trade with chinese is even worst, our stock of goods will be empty within a week. we can't bring back jobs in an instant, we can't bring back jobs if there are other place with low cost labors. that why i said give incentive to company for hire employee in US, tax company who outsource jobs to oversea instead give them tax break like we doing right now. beside i don't think rely on low-tech manufacture is good for US anyway. people has to know the pros and cons of raising tariff before make a decision.

 

If we end trade with China TODAY, this country will never have to worry about unemployement EVER AGAIN. Sure, we're going to have problems at first. But within 5 or 10 years, this country is going to shine up like a new penny.

 

Negotiate what? If we ask China to STOP stealing all of our jobs and money, they're going to tell us to GET LOST. We have to take extreme measures to fix this problem.

 

except all the t-shirt, shoe making gonna goto vietnam, S east asia, india, mexico etc. its the Corporation control where the job goes, not the government. the government can only give incentive to company that hire american.

so what we gonna do in these 10yrs when people still unemployee but all the cost of stuff raising by 1000% due to end trade with china. can you live without buy anything in 10 yrs? it will create riots in which we never seen before. you need take some economy class before shouting end trade. its not as simple as that.

 

stealing? you should blame the greedy american company for outsource. china just offer low cost labor, China NEVER force US to outsource our jobs. if we want to create jobs in US. end trade with china or tariff on china goods is not gonna help, jobs will just shift to elsewhere. the government has to make company WANT to hire americans. punish company outsource jobs, and give incentive for those who hire america. but we all know its not gonna happen since all the politican are friends with all the CEOs

 

Wow. Is this guy serious? Should china sanction the US for currency manipulation? Oof. This is why governments should not be involved with currency.

 

Dude, ur advocating more mercantilism. I thought we agreed that mercantilism is a failed ideology and that trying the same thing over and over expecting different results is the definition of insanity.

 

Dude! It sounds to me like you're not keeping up with the latest news!

 

Since we dont live in a free market why not?

America is addicted to consumption, tv commercials, and worthless products. besides making the economy worse, it might be good for us.

 

As has been said (but maybe ignored?) just raising terrifs and things on China simply would shift the jobs elsewhere in the world. And even if you throw up terrifs everywhere that doesn't neccessarily solve unemployment issues, companies aren't going to pay people $60,000 a year for unskilled labor that could be performed by a robot. Neither are individuals going to pay arbitrarily high amounts for everything, they can just choose to go without, so now you've still got your unemployment, and the employed have a lower quality of life.



On this particular piece of legislation, the currency value thing should be a joke, except it seems to interact in a very real way with individuals' psychology. If you tell someone they're going to get paid half as much next year they go berzerk. If you don't say anything and instead devalue their currency by 60% while giving them a 5% raise than they're actually happy with the situation.

 

Looks like you're keeping up with the 1750 brittish daily..

Can you substantively defend your mercantilist views?

 

@Gregdavidson, well should china impose sanctions on the US?

 

Besides sitting there and looking STUPID, how do you suggest we fix this enormous problem:

http://americaneconomicalert.org/ticker_home.asp

The Republicans were complaining about the U.S. investing in Solyndra. By the end of this day there will be the equivalent of TWO Solyndras going overseas.

 

Well since you avoid defending your position at every request, maybe you could clearly articulate what the "enormous problem" is?

 

tariff only certain products such as mid-tech to high tech stuff to keep us the technology edge in high tech manufacture, increase higher education. subsidize/incentive to company who hire american. raise tax on company who offshore jobs to outside of US. many US company earn large amount of profits outside of US. we need identify which company shift those jobs to outside due to cheap labor, and raise tax on them. for company who create/hire americans, we reduce tax/subsidize/incentive for those companys. its not gonna go well for politican who receive fund from CEOs though. they tend to blame on china for everything, but in reality its the company whos doing the outsourcing NOT china. Its better to increase tariff on mid-high tech stuff rather than tax on low tech things, such as t-shirt, toys.

 

in your onmiscience you know how to centrally plan the economy.

 

Well, one thing in favor of our fiat currency is that, to a degree, our trade deficit is much less than it seems to be because there is a genuine demand for dollars abroad. i.e. dollars ARE what we're exporting.

But I suspect our trade deficit isn't sustainable in the long term, and we've got unemployment here regardless.

I think the best solution for that unemployment is to just let companies actually hire, retain, and fire people instead of making it very very hard for them to do any of those, and quit having government assistance programs competing with genuine jobs.

I come from the midwest, and even in this economy I bet we're still bringing in a large and steady flow of illegals because there are so many people that would rather be on welfare in New York than have a job in the midwest. If you want to throw in some support, than OK, just have it be extra money for people with crappy low paying jobs, at least then they're producing something. Paying people to not work and punishing companies for having employees is just stupid.


And don't confuse yourself regarding lower wages if you start dropping the minimum. The whole point of this stuff about currencies is a desire to devalue the dollar. You're just adding crazy innefficiency in order to bring in crappy jobs that will still pay low in now dollars, it's just that they'll pay more in devalued dollars.

 

Can't you guys PLLLEEASSSEE stop coming up with a political explanation to this problem! It has very little to do with that!

 

only way to get out of unemployment is higher skill/education. there just too many poor countries that can make t-shirt, shoes, and toys. america advantage is in its high tech industry, not low-tech manufacture, those should be left for 3rd world country.

 

There are people right now who are fresh out of college and can't find a job. You need the BOTTOM to succeed in order for an economy to succeed.

 

it's evident that you cannot. too bad.