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Thread: US penalizes Chinese tires, infuriating Beijing

  1. #111
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    Re: US penalizes Chinese tires, infuriating Beijing

    What makes this thread hilarious, especially when you take the perspective of those who oppose free trade, is that China does not participate in free trade practices themselves, and throws a hissy fit whenever we do something to equalize the terms of trade.

    The artificially devalue their Yuan, so that their goods are more appealing to importers. The anti trade crowd will then counter that it allows China to become more competitive, and hence is wrong.

    Yes it is wrong, but it is actually taking away from China's ability to become competitive in the long run. Reason be, by keeping the value of their currency at a low bound, they are robbing their workers of the "fruits" of their labor. First and foremost, foreign goods are much more expensive, and hence their standard of living decreases sharply on that note. Secondly, it devalues Chinese citizens of their rate of return on savings, thereby disincentivizing of saving within their respective banking system.

    I was actually waiting for someone to bring up the currency situation for which to reply to, but all i got in return was protectionist rhetoric drowned in mercantilist ideals. Truly sad....
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  2. #112
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    Re: US penalizes Chinese tires, infuriating Beijing

    Quote Originally Posted by LennyD View Post
    China has enjoyed a preferred nation status...
    Contrary to what might be implied by the terminology, Most-Favored Nation (MFN) status, actually means a country is a normal trading partner. In other words, it is not subject to special restrictions on its goods or services.

  3. #113
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    Re: US penalizes Chinese tires, infuriating Beijing

    Quote Originally Posted by Goldenboy219 View Post
    What makes this thread hilarious, especially when you take the perspective of those who oppose free trade, is that China does not participate in free trade practices themselves, and throws a hissy fit whenever we do something to equalize the terms of trade.

    The artificially devalue their Yuan, so that their goods are more appealing to importers. The anti trade crowd will then counter that it allows China to become more competitive, and hence is wrong.

    Yes it is wrong, but it is actually taking away from China's ability to become competitive in the long run. Reason be, by keeping the value of their currency at a low bound, they are robbing their workers of the "fruits" of their labor. First and foremost, foreign goods are much more expensive, and hence their standard of living decreases sharply on that note. Secondly, it devalues Chinese citizens of their rate of return on savings, thereby disincentivizing of saving within their respective banking system.

    I was actually waiting for someone to bring up the currency situation for which to reply to, but all i got in return was protectionist rhetoric drowned in mercantilist ideals. Truly sad....
    Rhetoric.............

    Sorry I was not able to reply sooner, but time has been a scarce commodity lately.

    Anyhow your coming up with different ways to suggest an uneven playing field is just fine with me, but wasting my time debating the results here in the US while you were waiting in the shadows (like a bully awaiting his next influx of lunch money lol) to strike with currency comment when the time was right was just well silly.

    As I watch the continuous reports on all the news channels about the conditions and levels of the unemployment rates and numbers of the unemployed etc, and consider how the imbalance in trade over the last thirty plus years has contributed to these stats (yes there skewed as well lol), and add in less discussed issues like trading with a foreign country instead of foreign companies (the real deal with China) currency manipulation (thanks for your input) and even how so many previous jobs in the manufacturing sector were replaced with others in more volatile industries like home building and construction etc I can see why so many experts with beliefs on either side of center are so concerned about the true recovery time for the downturn in the economy, and the good chance that many will remain unemployed or underemployed to the point of creating an entire new class of people who can and are wanting to work but remain on govt services.

    We can debate the causes, reasons, and particulars, but the obvious results of our legislators actions in relation to imports/exports and business in general (they have not been so supportive of small business as they have been in allowing ever increasing big business etc) are as obvious as the unemployment and financial disasters we have seen lately.

    If you do not agree and believe that things are great and everyone is doing better than ever before in America then we may need to have an entirely different discussion.
    "Great spirits have always encountered violent opposition from mediocre minds"
    Albert Einstein


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