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Thread: China retaliates with tariffs on $75 billion of US goods

  1. #61
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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by iguanaman View Post
    They have the rest of the world to sell to and buy from and that is what they are doing. They can just do more infrastructure like they did in 2008 to weather any downturn from this war. We are not able to do those things. Confronting China alone was incredibly stupid and losing is worse than doing nothing. Trump cannot just go bankrupt and screw the creditors this time.
    Yes, and I think in the short term this will work for them; I don't, however, think they're looking at a trade scenario without access to the US market over the long term. I do agree that confronting them alone wasn't the best maneuver. Getting support from the EU and other trade partners would have created a much tighter noose.

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by Chomsky View Post
    Source: (CNN) China retaliates with tariffs on $75 billion of US goods

    I'm not sure what more can be said here. After getting Trump to blink & back down last week during U.S. crashing stock & bond markets, it seems China is now shifting gears and firmly taking the offense in escalating the trade & currency wars.

    U.S. manufacturing has contracted for the first time in a decade, and the heightening trade war will only exasperate the contraction. The American consumer is keeping the economy afloat, but a contracting manufacturing sector will eventually trickle-down to less consumer spending. Obviously the manufacturing sector isn't as large a component of the U.S. economy as in days gone by, but it still is an important part of our economy.

    It's my opinion that Trump has lost his self-inflicted trade war, and needs to declare victory and move on to something else. That is, if he wants to have an economy commensurate with his gaining re-election.

    Additional relevance: For what it's worth, I just checked and the Dow is down nearly 600 pts and the yield curve just inverted again ... oh well ...
    I support Trump's efforts, because I agree when he states this was a long time coming, and should have been done before.

    The "pain" was caused by no prior Administration taking steps to deal with the growing problems caused by Chinese economic activities.

    That goes for BOTH Parties, regardless of which held office.

    Chinese labor, lack of environmental/safety regulation, and cheap resources were a boon to Corporate interests, whose only long-term views revolve around how to increase THEIR profits and the devil with anything else.

    There were all sorts of steps that could have been taken when establishing past trade agreements, monitoring economic trends, and contrasting tariffs. People forget that Chinese tariffs were already twice as high on US products as ours were on theirs pre-Trump.

    They have been stealing and strong-arming intellectual property, undercutting markets, and playing the long game to our short one.

    So yes, I agree that now it is going to hurt...A LOT! That's because they have their claws in sooooo deeply that pulling them out will be more painful than had preventive action been taken in time.

    I say we need to bear it, and keep pushing until we win. IMO had it been any other President aside from Trump, people (and the MSM) would be singing a different tune.

    But because it IS Trump, then IMO some people wish for failure just to get him out of office. The problem then is that they have to accept rolling over to future Chinese efforts and we will suffer all the more after.
    Last edited by Captain Adverse; 08-23-19 at 02:53 PM.
    If I stop responding it doesn't mean I've conceded the point or agree with you. It only means I've made my point and I don't mind you having the last word. Please wait a few minutes before "quoting" me. I often correct errors for a minute or two after I post before the final product is ready.

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by trixare4kids View Post
    Yes. No pain, no gain.
    Well, right not there is pain, and no gain.
    Quote Originally Posted by Hannah Arendt
    "The ideal subject of totalitarian rule is not the convinced Nazi or the convinced Communist, but people for whom the distinction between fact and fiction (i.e., the reality of experience) and the distinction between true and false (i.e., the standards of thought) no longer exist."

  4. #64
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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by trixare4kids View Post
    ^^^
    What's a little pain when you aren't the one feeding a farmer's family?

    Sent from the Matrioshka in the WH Christmas tree.
    Peace is a lie. There is only Passion. Through Passion I gain Strength. Through Strength I gain Power. Through Power I gain Victory. Through Victory my chains are Broken. The Force shall free me.

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by digsbe View Post
    There is going to be some economic pain as we challenge China and try to de-couple the economies. However, it must be done and the price must be paid. Trading with China and boosting their economy is like enabling the Nazis, China must be confronted and opposed if not just because of how they abuse on trade, but because they pose a major threat to global/national security, democracy and commit major human rights violations.
    At last! Some common sense.
    "Have the courage to have your wisdom regarded as stupidity. Be fools for Christ. And have the courage to suffer the contempt of the sophisticated world." - Antonin Scalia

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by PirateMk1 View Post
    No this trade war requires intestinal fortitude.
    Yes, Trump's ass kissers are just ****ting themselves in making excuses and attempting to explain his idiocy.
    Quote Originally Posted by EMNofSeattle View Post
    It does not in fact bother me that poor people exist. They are supposed to, poverty is the default state of human existence.

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by Linc View Post
    GOPs lost 42 moderate House seats last year because their base did NOT turn out. Specifically, we saw saw this with 2 House seats in Iowa, one in Oklahoma and one in South Carolina.

    Don’t expect this mythical trump base to turn out in 2020 in farm country. Farm banks, implement dealers, patriotic family farmers and rural communities have all been decimated by trump’s insane trade policies, including pulling out of TPP.

    Alt-trumpists didn’t pay attention to the Koch brothers on tariff wars, which accelerated the Great Depression. When public pensions from federal to state to local start going bankrupt next decade, we’ll indeed be in another Great Depression.
    We're all hit by this. You have your farming community, and I have older family members that are dependent upon a market component for their retirement. The market has not had a net gain in nearly two years.

    (BTW, the farmers downstate are getting hit pretty hard. We'll see if they stick for Trump, not that he's likely to win the state regardless)
    "When fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by JustHanging View Post
    All those wars are certainly cash cows for the parties involved. I find it likely that this "war" is having the same effect. Imagine knowing what Trump's tweets are going to be a day ahead of time, you could make some serious money in the stock market.
    Yep, I find it extremely interesting that M4A "demands" that private for-profit industry be eliminated when no such nonsense was required for receipt of SNAP, infrastructure or DoD (MIC?) federal spending.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by Chomsky View Post
    You can't "decouple" from the global economy.
    There are other countries that make most of what China does. Truth is China can't afford to lose our business. They'll fold eventually.
    "Have the courage to have your wisdom regarded as stupidity. Be fools for Christ. And have the courage to suffer the contempt of the sophisticated world." - Antonin Scalia

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    Re: China retaliates with tariffs on $75 billion of US goods

    Quote Originally Posted by iguanaman View Post
    Trump got us into a war we cannot win because he did not think it through. And the rest of the world can just laugh at our pain and blame us for tanking the world's economy for nothing.
    No. The rest of the world plunges into a recession, and hates our guts even more than they did in '08!
    "When fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis

    The 10 Commandments of Logic - (Courtesy of Abbazorkzog Blog)

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