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Started By
Message
Drudge: China fires warning shots
Posted on 11/14/16 at 9:53 am
Posted on 11/14/16 at 9:53 am
LINK
Im very interested to see how this trade stuff works its way out. Obviously China will always have a leg up on us production wise because they can pay their employees basically nothing AND (correct me if im wrong) their production is not completely privatized so they can play coordinated games to sell at a loss to put our production out of business.
Ive always been a fan of trade without major tariffs BUT I do believe China is pulling cards from under the table. In America, we are still the best at innovation BUT we dont reap all the rewards of that innovation because production often times goes overseas.
Im interested to see how this all plays out. I do believe prices will go up most likely on things we consider discretionary spending...but will a boosted economy offset that increase in prices?
What we are doing is certainly not working so I welcome someone who will negotiate for the American people...instead of at their expense
Im very interested to see how this trade stuff works its way out. Obviously China will always have a leg up on us production wise because they can pay their employees basically nothing AND (correct me if im wrong) their production is not completely privatized so they can play coordinated games to sell at a loss to put our production out of business.
Ive always been a fan of trade without major tariffs BUT I do believe China is pulling cards from under the table. In America, we are still the best at innovation BUT we dont reap all the rewards of that innovation because production often times goes overseas.
Im interested to see how this all plays out. I do believe prices will go up most likely on things we consider discretionary spending...but will a boosted economy offset that increase in prices?
What we are doing is certainly not working so I welcome someone who will negotiate for the American people...instead of at their expense
22
Posted on 11/14/16 at 9:54 am to bamafan1001
(no message)
This post was edited on 1/10/21 at 9:30 pm
Posted on 11/14/16 at 9:56 am to bamafan1001
Doesn't China already charge us like a 35% tariff for our exports?
Posted on 11/14/16 at 9:57 am to bamafan1001
quote:
Im interested to see how this all plays out. I do believe prices will go up most likely on things we consider discretionary spending...but will a boosted economy offset that increase in prices?
I was wondering this exact same thing the other day.
It sounds absolutely amazing that we are going to tax products made out of the country at a high rate to ensure we are competitive enough to keep industry here in the states... But wait, that simply means everything we got out of the country will cost more, bringing that manufacturing back home just means here it will still cost more than what we are used to.
The ultimate product on the most basic level is more expensive goods for us the consumer.
Posted on 11/14/16 at 9:57 am to The Baker
quote:
Who's gonna buy their shite?
anybody that shops at Walmart...
Posted on 11/14/16 at 9:57 am to bamafan1001
quote:
their production is not completely privatized
Correct.
quote:
they can play coordinated games to sell at a loss to put our production out of business.
For a time, but I gotta tell you that this is a huge indicator that Americans shouldn't be pushing to compete with Chinese manufacturing. It's a backwards econ strategy that forces the US into direct competition to preserve some nostalgic dream and garner votes from disgruntled former factory workers when it should be focused on its RELATIVE advantage in other industries.
Tax reduction will ease his protectionst nonsense, so maybe it will partially offset.
Posted on 11/14/16 at 9:57 am to bamafan1001
Trump was able to overcome the corrupt left, so I believe he can go toe-to-toe with the corrupt Chinese. This is going to be a very difficult dilemma to overcome given the amount of cheating and fraud that these Chinese businesses employ. That said, this statement from the Chinese is a test. Expect to see many foreign governments making bold statements to test Trump's foreign policy strength and commitments to the American people. I think we're in for a good show either way. To make an analogy, American is like a college football team that just secured a prized recruit that can turn the whole team around. I'm looking forward to the next four years to see how things play out.
Posted on 11/14/16 at 9:59 am to The Baker
quote:
Whose gonna buy their shite?
If we aren't buying their shite then the prices of goods is going WAY up. To the point of the OP im not sure if the boosted economy from bringing manufacturing back makes up for it or whether its a zero-sum game.
Personally I don't care for our excessive consumerist culture. I don't think a 65" LCD brings the same happiness that going for a walk in the woods with your family does. I don't think buying a new phone every year or two or a new car every 5 is sustainable. So, I don't know that the price of goods rising is such a terrible thing, especially if it meant that more people were gainfully employed.
That being said, I dont think anyone really knows whats going to happen if we turn back the dial on globalism at this point. I think its the biggest question of our generation.
Posted on 11/14/16 at 10:01 am to The Baker
quote:
Trade war with what? We are massively service based, this isn't 1926.
We dont have to be just service based.
Posted on 11/14/16 at 10:03 am to MrCarton
quote:
It's a backwards econ strategy that forces the US into direct competition to preserve some nostalgic dream and garner votes from disgruntled former factory workers when it should be focused on its RELATIVE advantage in other industries.
So I think its obvious that the reason we now have Donald Trump and could have had Bernie Sanders speaks directly to the fact that the replacement for that nostalgic dream is a nightmare for massive swaths of our populace. What is the endgame for globalism in your mind?
In the VERY long term I think labor equalizes as 3rd world labor demands higher wages, but in the mean time we're looking at a world of hurt.
Posted on 11/14/16 at 10:05 am to AUbused
(no message)
This post was edited on 1/10/21 at 9:30 pm
Posted on 11/14/16 at 10:07 am to MrCarton
quote:
I gotta tell you that this is a huge indicator that Americans shouldn't be pushing to compete with Chinese manufacturing. It's a backwards econ strategy that forces the US into direct competition to preserve some nostalgic dream and garner votes from disgruntled former factory workers when it should be focused on its RELATIVE advantage in other industries.
I completely agree. I just don't see those jobs coming back at a significant rate.
Posted on 11/14/16 at 10:09 am to bamafan1001
Any tariff should be to level the playing field, not as a penalty or fine.
Protection against dumping, or heavy government subsidy of whole industries is the goal.
Tariffs to prop up unproductive and bloated industries is folly.
Protection against dumping, or heavy government subsidy of whole industries is the goal.
Tariffs to prop up unproductive and bloated industries is folly.
Posted on 11/14/16 at 10:09 am to AUbused
quote:
That being said, I dont think anyone really knows whats going to happen if we turn back the dial on globalism at this point. I think its the biggest question of our generation.
I agree. I love capitalism but is it really true American based capitalism if the majority of the products we buy are not keeping Americans employed?
Im 29 but I remember growing up we didnt have near as much stuff. My mom drove me and my sister around in an old Camry. Now she has no kids to drive around and shes in a nice SUV.
Im all for global free market capitalism...but its bullshite that China bigwigs get rich while they treat their citizens like shite. If China had cheaper prices because of their innovation and efficiency, that would be one thing...but they have cheap prices at the expense of their people
Posted on 11/14/16 at 10:09 am to bamafan1001
quote:
Im very interested to see how this trade stuff works its way out. Obviously China will always have a leg up on us production wise because they can pay their employees basically nothing
This will change over time just as it did in Japan and Korea. But yea, with their government in control of their currency manipulation, etc. it does give them a decided advantage.
Posted on 11/14/16 at 10:10 am to The Baker
quote:
We are their largest consumer market.... Meaning they will be starting a trade war with their biggest customer. Good luck.
Sure, but at the same time they also make an enormous percentage of the shite we buy for very cheap prices right now. Maybe we don't get hurt as bad as they do, but you're kidding yourself if you think the prices of goods going up 500% doesn't hurt bad, at least in the short-mid term.
Additionally, a poster involved in the automotive market the other day was talking about how bringing the labor to BUILD cars back to the US isnt the issue, its the mammoth supply chains that no longer exist here which would take years to relocate.
In a way, trade war with China at this point feels a bit like mutually assured destruction.
This post was edited on 11/14/16 at 10:13 am
Posted on 11/14/16 at 10:11 am to bamafan1001
They scared
Posted on 11/14/16 at 10:12 am to AUbused
The SJWs should be all over there in China protesting climate change and fricked up rivers.
Posted on 11/14/16 at 10:12 am to TennesseeFan25
Prices of goods might rise, but profits will stay in the country and have a positive effect on OUR economy, causing more wealth gaining transactions for Americans. International trade currently lines the pockets of foreign governments. China in a sense is a large private company that we support through trade. They need to realize they aren't the only third world country we can deal with.
Posted on 11/14/16 at 10:14 am to AUbused
(no message)
This post was edited on 1/10/21 at 9:30 pm
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