China Threatens Trade War

China warned Washington it is "adamantly opposed" to a proposed U.S. bill aimed at forcing Beijing to let its currency rise, saying its passage could lead to a trade war between the world's top two economies.

The full article is at Reuters

I for one, at least at this point, would welcome a trade war with China. Maybe then Americans would quit outsourcing and work on manufacturing our own goods. If this opinion is ignorant, please feel free to debate below. I consider all reasonable responses and welcome opinions.

More Breaking News...

This bill has only been approved for debate by the Senate and must pass there, and in the House and be signed into law the Obama.

The Senate voted 79 to 19 for opening a debate on Currency Exchange Rate Oversight Reform Act of 2011. The move does not imply that the Senate has passed the bill, but it is the last procedure before the Senate votes on the measure. The bill now has to be approved by both Houses of the U.S. Congress and signed into law by President Barack Obama for it to come into effect. The final Senate vote on the measure is expected later this week.

The bill does not even specify China. By coming out and saying that China considers this bill's passing as a possible opening to a Trade War, China has basically admitted what they are doing.

Although the bill does not explicitly name China as one of the offenders, U.S. lawmakers have accused Beijing in the past of keeping the value of yuan artificially low to boot the country's exports by giving Chinese goods an unfair advantage over American-made products. Beijing, however, has rejected these allegations.

The US is one of, if not the top, trading partner for China. The value of their exports would decrease significantly if the US forced tariffs on their goods, or if they forced the US into a Trade War.

The United States is currently one of the major trading partners of China, which incidentally is the world's largest exporter. The U.S. and China's other key trading partners have been urging Beijing to ease exchange rate controls as the undervalued Yuan gives the Communist State an unfair advantage by making its exports cheaper.

Read the second article here RTT News

Mods: Apologies if this is in the wrong place. Please move if necessary.

reply to post by Ameilia


please do it china, the west deserves it so bad
they have all the power to f us up, its just a matter of when enough is enough
bye bye america

reply to post by Ameilia

The headline made me think of a Hobbit kicking Hulk Hogan in the shins repeatedly until being thumped just for amusement. After reading the Reuters article, I have to revise my visual. It's the same little Hobbit but with a big dose of arrogance and an ugly red face....kicking Goliath.

How exactly does Congress see a way to force China to do ANYTHING? We owe them between 900 billion and 2 trillion dollars depending on which source and method of calculating is used.....before interest is figured in at that compounding rate. Ummm.... I hate to be the one to break this to those people in Washington, since they seem to have failed economics and math classes, but to quote a favorite song, We owe our soul to the company store. The management in this store speaks Mandarin Chinese.

I am an American and would love to see this. We could fill a lot of jobs here at home. We need to increase our exports.

Oh no!

We will lose Walmart and Harbor Freight.

reply to post by Wrabbit2000


The US can attempt to rein in China's undervaluing of their currency by sanctioning them as long as they continue along their route to keep said currency undervalued.

U.S. senators voted on Monday to open a week of debate on the Currency Exchange Rate Oversight Reform Act of 2011, which would allow the U.S. government to slap countervailing duties on products from countries found to be subsidising their exports by undervaluing their currencies. U.S. lawmakers, eyeing 2012 elections, said the undervaluing of China's currency had cost American jobs and that a fairer exchange rate would help cut an annual trade gap of $250 billion.

At least that is how I understand it to be said in the article, relevant portion quoted above.

I have been hearing chatter regarding the Yuan being undervalued, and China's methods of keeping it undervalued, for about a year now.

Originally posted by UniverSoul
reply to post by Ameilia

 

please do it china, the west deserves it so bad
they have all the power to f us up, its just a matter of when enough is enough
bye bye america

Here's a guy who'd rather live in China. Bon voyage! Don't forget to write.

Originally posted by VforVendettea
Oh no!

We will lose Walmart and Harbor Freight.

And half the goods in the grocery stores.

China "HA HA HA, you Americans think you so smart you try to fill Wal mart shelves, you go broke over night, we come and by you out and then sell cheep to you."
America ,"we can build, but first we need to buy all the steel from china, at the coast of.. how much do we owe them? 900 billion... what 4 trillion!!!!, oh that's right to cover the war, the tax breaks, the health care, the trips to..." just how would win?? like I have to ask... Trade war ok it's no joke, but you got to laugh.

Currency/Trade wars have been going on for years.

Eventually the end result is physical warfare.

Our "leaders" will attempt to rally us all behind the threat of the sleeping red giant just before economic collapse would otherwise be realized.

We already enforce our standard of livings by going to war with countries who try to defy our dominant reserve currency status.

It seems a clash between the titans will occur this decade no matter what.

After the dust settles, global ecosystem collapse.

Originally posted by AwakeinNM

Originally posted by UniverSoul
reply to post by Ameilia

 

please do it china, the west deserves it so bad
they have all the power to f us up, its just a matter of when enough is enough
bye bye america

Here's a guy who'd rather live in China. Bon voyage! Don't forget to write.

if your corporate world leaders didnt make everything so expensive i would

Yes please do China let it float.
That inflation will eat them alive.

So are we in the USA going to quit manipulating our currency if we win the case?

Second line!

I suggest learning mandarin with your business degree's.

Call me a prophet in 4 years =)

FAIR TRADE NOW
If this means trade wars, then fine.
Because the current system hurts their workers for not having fair wages,
and it hurts our workers for not having jobs.

And the ultra wealthy in the US and China reap the rewards.

reply to post by SLAYER69


rescind Most Favored Trade/Nation Status............................

Did we give Communist Russia that status? Cuba?

We can make EVERYTHING in America.

Originally posted by sonnny1
reply to post by SLAYER69

 

rescind Most Favored Trade/Nation Status............................

Did we give Communist Russia that status? Cuba?

We can make EVERYTHING in America.

This is what my father explained to me a few months ago when I started getting a bit head-crazy about the US debts to China and the possibility of default. I was becoming paranoid first over imports, second over war. My dad's response was: We made all that stuff here first. Where do you think they got the information, knowledge, and tools to make it? We can make it again. Let China be the least of your worries.

I realized he was right. I love my dad.

China letting their currency float is kind of like pulling a tooth. They can do it really slow and it will be very agonizingly painful or they could do it one quick painful jerk and be done with it.

China will have to do it sooner or later.


There's just no two ways about it.

Stay tuned folks this WILL get bumpy....

Bring it. The Chinese and American sell-out businesses have done a good job of making the sheep believe the lie that "China owns America" and "America can't manufacture anything anymore". Put Americans in a position where we need to manufacture stuff again and you will see what happens. China does not want a trade war. What scares China is a change in the status quo, so they try to scare the sheeple with threats of raising the price of the plastic crap they make. OMG! What will happen if the Dollar Store becomes the Five Dollar store???!!!! Again, the only reason stuff is as cheap as it is is due to gov't subsidies to companies so that it makes it impossible for American companies to compete because people are too short-sighted to understand what happens when we send our business to our enemy.

Originally posted by sonnny1
reply to post by SLAYER69

 

rescind Most Favored Trade/Nation Status............................

Did we give Communist Russia that status? Cuba?

We can make EVERYTHING in America.

We DID make everything here at one time, until countries like China and Russia engaged in industrial espionage. Then the communist politicians here made sure that the U.S. was an expensive place to operate a business in. Kind of oversimplifying it, but here we are just the same.