Why the trade deficit with China is really no big deal: more than 58% of China's total exports come from foreign companies/joint ventures that have set up shop there. Consider that 64% of its exports to America come from US companies which are almost completely owned by US investors. Moreover, folks like Schumer (Smoot) and Graham (Hawley) should take into account that, in 2005, China bought more than $80 bln of US Treasuries, which probably helped keep bond yields and mortgage rates low, not to mention that the lower prices Americans pay on imported toys, clothing, appliances and electronics save them roughly $1,000 on average per year.
[ February 21, 2006, 21:49: Message edited by: Bob Frey ]
posted
Are you a fool? Don't you see the danager in a country like China buying and stockpiling U.S. dollars???
Don't you realize we are becoming a debtor nation to rogue states like China?
-------------------- Do not boast about tomorrow, for you do not know what a day may bring forth -- Proverbs 27:1 Posts: 476 | From: East Texas | Registered: Dec 2005
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bull clearly has a consistant supply of Party made kool aid.
I wonder if he thinks it would be ok to ship the tooling to China and have the f22 built there with cheaper labor?
Hey, and there's someone to take over Los Alamos Labs. Good thinking, bull!
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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quote:Originally posted by Team Sleep: Are you a fool? Don't you see the danager in a country like China buying and stockpiling U.S. dollars???
Don't you realize we are becoming a debtor nation to rogue states like China?
China's the rogue state?
China's holding America's dollars and debt is keeping America from collapsing into just another third world banana republic in the Americas.If they wanted to screw America they would dump it all but its not in their interest.
The 21st century will be the Chinese century like the 20th century was the American one.Do as Adventure Capitalist Jim Rogers is doing and go long gold and commodities and short the dollar and hire a Chinese nanny to only speak Mandarin to one's daughter.
Just like Rome,the British empire,etc.,they all go into overextended militarism and bankruptcy.
These are the books seen at every Barnes & Noble.
The End of the American Era : U.S. Foreign Policy and the Geopolitics of the Twenty-first Century
Hegemony or Survival : America's Quest for Global Dominance
Rogue State: America at War With the World
The Sorrows of Empire : Militarism, Secrecy, and the End of the Republic
The New American Militarism : How Americans Are Seduced by War
Chain of Command : The Road from 9/11 to Abu Ghraib
-------------------- Despite the high cost of living it remains popular Posts: 165 | From: Waikiki Beach | Registered: Feb 2006
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I'm trying to say that China is buying America out from under us.
-------------------- Do not boast about tomorrow, for you do not know what a day may bring forth -- Proverbs 27:1 Posts: 476 | From: East Texas | Registered: Dec 2005
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China's holding America's dollars and debt is keeping America from collapsing into just another third world banana republic in the Americas.If they wanted to screw America they would dump it all but its not in their interest.
you are correct... it's not in China's interest at THIS moment...
the anger from this end? is why our leaders let it get this far.... the plan has been in effect for a long time..
whodunnit? For several years, Wal-Mart has been the single largest U.S. importer of Chinese consumer goods, surpassing the trade volume of entire countries, such as Germany and Russia. Global sourcing is now fully integrated into the company's operations -- giving Wal-Mart enormous leverage worldwide. Foreign products account for nearly all of Wal-Mart's trumpeted low opening price point goods. But a more agile, transnational, "virtual" manufacturer is emerging to service the American mass retailer. Larry Harmer, CEO of Petters International, has never created a brand, run a research and development group, overseen the assembly of a product, or sold it on a store shelf.
He is a "brand distributor," a general contractor of sorts for consumer electronics, who develops a concept for a product -- a new kind of DVD player, for instance -- by licensing other people's design and technological innovations. When the prototype is ready, he licenses a familiar brand name, such as Polaroid, under which he sells his product. He and his team of fluent Mandarin speakers then head to China and turn to one of Wal-Mart's chosen Chinese manufacturers for production. Harmer said that Wal-Mart deals with only three or four DVD player factories worldwide -- all in China. Harmer's situation is typical: To sell to Wal-Mart, most brand distributors will be forced have their products made by Wal-Mart's anointed partners in China.
There's a new wrinkle in the global game: China may not settle for second fiddle. Chinese manufacturers want to become equal partners with Wal-Mart, playing a role in product development, not just filling assembly orders. They, too, are becoming creative with the use of point-of-sale analysis to respond instantly to the demands of consumers and develop products they want.
"We are seeing an emerging shift in product development," said Tom Travis, a trade lawyer at Miami's Sandler, Travis & Rosenberg, who counts Wal-Mart among his clients. Chinese manufacturers "are assuming much more of the functions, creating and designing … the product."
This could lead to what up until now, many would have considered an unthinkable scenario in which the manufacturing dominance of China subverts Wal-Mart's control of the supply chain.
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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It isn't China's doing. It's this damned fake war that Bush is running in order to syphon money off to the very rich, i.e., the corporations. Hitler did it too. It's called nazism.
As far as China being the "star" of the 21st cenbtury, yes, to some extent that is inevitable. They have too much man power and too much land and natural resources to stop them. But we have enough of those things to stand our ground if we can be wise wnough to not attempt to go head to head with a giant. Let them have the oil and coal and start now to develop other sources of energy. Stop listening to dubya's simple minded BS (what do you wanna bet he never took a science course or a mathematics course that wasn't the minimum required?) and the power and oil companies that see only profit loss if the US escapes from the grip of fossil fuels. Stop the idiotic war on drugs and the even more senseless war on terror, that isn't a war but a way to take control of the government, and put those efforts and money to work and we can be energy independent in a decade.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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I agree bdgee.If our students studied as hard in math and science as theirs do and if we graduated a fraction of engineering students as they do,America could be competitive. Unfortunately just watch jaywalking on the Tonight Show to see how people don't know where the Pacific ocean is or think Canada is a US state or even know who our first president was.It is our own fault and it may take a collapse and hard times for Americans to be hungry enough again to get back to hard work and hard study.
-------------------- Despite the high cost of living it remains popular Posts: 165 | From: Waikiki Beach | Registered: Feb 2006
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Don't buy the BS about how weak our students are in mathematics and science. We still have the very best scientist and and mathematicians that ever existed.
It's the non-science and mathematics students that are not learning.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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Team Sleep and bdgee, why did you make this personal? I only posted what Merrill Lynch reported. You guys come out blazing your guns at me.
I only posted to get opinions about the report not about me and my thoughts.
Glassman, I don't know about that statement either. I don't know what the Chinese gov will or will not let foreign co's do.
As for our debt. From how I percieved it our investment institutions on half and china owns half of our notes. I can remember when my grand parents would talk about how the U.S. gov would encourage Americans to buy T-notes and U.S. Gov Bonds. The gov say "How it was Un-American not to do so." Maybe Americans should be buying instead of letting foriengers owning our debts.
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If it isn't you saying it, then why not say so to start with. It surely looks like you intend to be passing that BS on as good for the country. I had eveery reason to suspect that is exactly what you intended. I haven't seen anything you've said or done to disuade that conclusion. We've had other Party Line posters here claiming they have no responsibility for the propaganda they post. Of course, you can make your actual intentions clear at anytime by clearly stating them. But, the stuff you posted is just Party line hype to make excuses for this bungling Administration's inability to make the U.S. safe and secure for the future.
If I didn't read between the lines correctly and to suit your wishes, I appologize, but, in turn, ask that in the future, to prevent further free interpretations of your intent, you say, openly, what they are before becoming upset because others thought you were doing what it appeared you were.
Americans have been coaxed into burrying their chance of saving under high interest auto loans ans credit card debt. They cannot affordd to buy government bonds.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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Sorry for making a personal attack. I came to the conclusion you were probably supporting this because you bolded the first line and you had no comments related to the post.
It's just sad when respected insitutions like ML report this kind of crap. It's misinformation that harms people and will harm this country.
We're about to get blindsided by China and most of America doesn't even see it coming. I remember growing up in the 80's everyone was scared of Russia (USSR). All during that time in the 80's my dad would tell me over and over that the USSR is not our biggest threat, it's China and that one day China is going to make a financial and then military move on America.
He was so right. They are making that financial move now and I'm sure a military move is just a decade or less away.
-------------------- Do not boast about tomorrow, for you do not know what a day may bring forth -- Proverbs 27:1 Posts: 476 | From: East Texas | Registered: Dec 2005
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bull says: Glassman, I don't know about that statement either. I don't know what the Chinese gov will or will not let foreign co's do.
glassman says: well, i definitely wasn't trying to be personal with you... i have one of my accounts with another major league broker (not Merryl) and they send me the same crap... they also put out statements like "Bush's deficits are good for the economy" LOL.. (yeah toady they are, but not our Kids economy)
i have a personal issue with the factory thing going to China... i LOVE to work with my hands, and the way things are going? i'll have to PAY for the "privilege".... and while i'm not a huge fan? i'm not anti-wal-mart, they are exploiting the/a market, but i am pi$$ed that China was given most-favored status even tho they are commie-pinko crooks...
i know a lot of what i say is not completely correct, but i do try to get people to add their opinions.... the "good" news about China? based on history? they aren't likely to attack anybody, they just don't think that way... Taiwan? they want back... i suspect they'll get it back eventually, they are extraordinarily patient...unlike US
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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Glassman, I didn't mean to imply that you were attacking me personally. I didn't think you were, I was just replying to your statement.
I don't think China wants to destroy the U.S. financially or attack the U.S. militrally. We are importing billions of dollars worth of Chinese goods. It doesn't make sense to why they would do that.
America has been losing jobs to China and other countries for over a 100 years. My view is that when Industries mature here in the U.S. they need to go abroad to have more growth.
The American Economy is a Global Economy and that's how we have to compete. I don't like for our jobs to go abroad but that's how it is and we just have to deal with it. The U.S. Economy is always changing and we as Americans need to better ourselves and should learn new skills and change with it.
American Corporations can't compete against low wage paying countries. I read an article the other day how the Chinese State Owned businesses copy American technology and then make a generic version of it and sell it. While the Chinese gov doesn't pay their state employees, some haven't recieved their paychecks in over 2 or 3 years. Only the supervisors got paid but the majority of the employees didn't get paid. How can anybody compete with that? Plus there is the property rights issue. I don't think the Chinese know what that is.
posted
While the Chinese gov doesn't pay their state employees, some haven't recieved their paychecks in over 2 or 3 years. Only the supervisors got paid but the majority of the employees didn't get paid. How can anybody compete with that? Plus there is the property rights issue. I don't think the Chinese know what that is.
this is more or less my understanding too..
the Chinese govt maintains interest in all co's there is what i've heard too....
i have to say i don't fully understand how that works when you try to reconcile the books...
China has failed on a lot of loans too...
China is communist, thru and thru... they don't have to pay the workers and yet the workers still have food and clothes and a roof...
i am hearing that there is a growing upper class in China that is beginning to make the "peasants" angry....
nothing is more dangerous to govt stability than "angry peasants"
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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Alohadream, whats up? You on the mainland, or hiding out in Kona? With the rest of the Millionaires LOL
Posts: 10729 | From: oregon | Registered: Feb 2005
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Why are massive trade deficits with any country a good deal in regards to America? Just because China loans us money to pay our bigger than ever budget deficit. If we go down this path won't we put ourselves in a very weak position in the world over time. I think we will become a domesticated dog in a world of wolves. Don't forget every time we send our industrial base over seas we send our tech. with it our tax base and the political turmoil stays here and festers. Not to mention the eventual financial black mail sittuation that we put ourselves in. You always must remember that China is a country that offers stability to investors but they are a communist led country that maintains that stability with the gun has in the past and will in the furture. In the long run not a good bunch for us to sell our souls to.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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quote:Originally posted by Dustoff101: Alohadream, whats up? You on the mainland, or hiding out in Kona? With the rest of the Millionaires LOL
This Sopranos-loving Jersey boy is still stuck in NJ due to a real estate deal but have been planning the move to Waikiki for a year now.A couple more months and its maitais and wahines and mahimahis every day.Commercial real estate has been good for me but am a sub-millionaire but hope my stock and forex trading and 60 million Iraqi dinars puts me in that club soon.
-------------------- Despite the high cost of living it remains popular Posts: 165 | From: Waikiki Beach | Registered: Feb 2006
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quote:Originally posted by Dustoff101: Alohadream, whats up? You on the mainland, or hiding out in Kona? With the rest of the Millionaires LOL
This Sopranos-loving Jersey boy is still stuck in NJ due to a real estate deal but have been planning the move to Waikiki for a year now.A couple more months and its maitais and wahines and mahimahis every day.Commercial real estate has been good for me but am a sub-millionaire but hope my stock and forex trading and 60 million Iraqi dinars puts me in that club soon.
------------------------------------------------- Oahu was good to me in the 60's 70's and the begining of the 80's.
Now I am a "Kona involved"....Primarily Big Game Sports fishing..Bounce back and forth alot.
Will be leaving soon on our 4th trip to Kona within the last year.
Posts: 10729 | From: oregon | Registered: Feb 2005
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I thought about the Big Island and property prices there are a lot cheaper than Oahu or Maui,but I travel a lot so Honolulu International Airport is a big plus and I also like the big city activities and bustle of Honolulu.The Kona coast is well known to this fisherman as the best big game fishing in Hawaii and know about their world famous tournaments.I definitely hope to reel in my first marlin or tuna when I'm there. Mahimahilo!
-------------------- Despite the high cost of living it remains popular Posts: 165 | From: Waikiki Beach | Registered: Feb 2006
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posted
Why are massive trade deficits with any country a good deal in regards to America? Just because China loans us money to pay our bigger than ever budget deficit. If we go down this path won't we put ourselves in a very weak position in the world over time. I think we will become a domesticated dog in a world of wolves. Don't forget every time we send our industrial base over seas we send our tech. with it our tax base and the political turmoil stays here and festers. Not to mention the eventual financial black mail sittuation that we put ourselves in. You always must remember that China is a country that offers stability to investors but they are a communist led country that maintains that stability with the gun has in the past and will in the furture. In the long run not a good bunch for us to sell our souls to.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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