Comments on: What’s good for the world is bad for the U.S. and China Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 By: paintcan Thu, 18 Nov 2010 17:39:25 +0000 Ms Freeland: If you are going to change your wording after the fact, please be kind enough to remove my post. That was a cut and paste and not a typed extract of your first version of this article.

But I appreciate that I may have made my point as have so many other writers on this subject.

I suppose anyone can make a typo?

By: kc10man Tue, 16 Nov 2010 09:30:47 +0000 A AnonymousOP; Very well said Sir/Ma’am. America has indeed gone down the same debilitating road that England did in the 1880’s. Manufacturing has found a new home and now the US must rely on other bases of economic support such as services, and may I say, intellectual crafts. But manufacturing is not entirely dead. According to our beloved Reuters, the US made approximately 51% of the goods consumed in this country last year, not counting food.

But, I expect that to continue to shrink so long as our borders remain so porous and open to upper class intentions.

Congrats once again to all those whom elected officials who will inevitably extend tax breaks to the same rich that have probably shipped your job overseas. Ya’ay to small government, less jobs, no regulation and a bigger military!

By: kc10man Tue, 16 Nov 2010 09:23:28 +0000 @ KINGFISHER: nice to know the Indian point of view.

I will choose to project the point of view of anyone on earth with a decent amount of wealth. Economics, like citizenship, are fickle and should be seen as such. Chosing which economy and which society to belong to should be made a pone the line of what said society can in the long run provide. Nationalism is dead for people whom possess wealth and citizenship should be considered more of as an insurance plan.

PS: My quality insurance plan in China costs me about 500 USD a year, covers me for any illness and requires no other monetary payments. While my statement may seem to deviate from the main topic, it is in fact central to the idea of economics. If I can get a better deal somewhere else, shouldn’t I?

By: KINGFISHER Mon, 15 Nov 2010 20:03:45 +0000 So ultimately, the great subject economics and its trend to make it a science subject by inserting some formulas has miserably failed and now it led to the kitchen room’s global economy of the TWO super powers.

The world should become pragmatic and should avoid following the two fighting bulls. If the two are fighting based on their domestic economy and financial matter to impose on the entire world their formulas and that neither of their formulas will have positive impact on world economy and financial global problems. Then they should compensate the poor and under developed country incurring loss for these two supper powers follies. Moreover, when there is specific mention in the article that “what is good for US and China is bad for rest of the world” obviously for these two supper powers..

Does that need to be elucidated further for the rest of the world? I do not think it is needed.

By: ARJTurgot Mon, 15 Nov 2010 15:48:05 +0000 The Fed’s responsibility is not to the rest of the world, it is to the citizens of the U.S. If it cannot perform its function in their interests it will be replaced.

Right now the U.S. has an unemployment problem that promises to lead to social unrest. It would seem given the magnitude of that problem, the Fed has missed on half its charter, which is full employment.

The QE2 is absolutely going to lead to inflation and devaluation. Find me any other time in history where that volume of stimulus has not had that affect. It reduces, for a large number of Americans, their overall standard of living. Given the jealousy of the U.S. in the rest of the world, I should wonder that they aren’t cheering at that, except of course, as ours goes down, so does theirs.

Ah, and there’s the rub, they can’t have it both ways. They want the U.S. to step up spending so they don’t suffer, but they only want us to spend hard money, which we seem to be in short supply.

As to China, their days as mercantilists are about over. Maybe they should learn to talk to the Japanese about what that means.

By: kc10man Mon, 15 Nov 2010 14:08:38 +0000 The Fed Reserve is right. By releasing 600 billion USD into the global system, it puts pressure on any country that has unfairly fixed its currency to the dollar (China). This will lead to an almost immediate inflation risk on said cheater (China). Which is why the inflation rate in China has already hit 4.4% and will likely pass 5% next month. The only way for such a cheater to stabilize its currency would be to either increase their base interest rate or revalue their currency.

This is a technique intended to hit China and force a revaluation without confronting China over its unfair practices. On the down side, it also affects all other major currencies based on the liquidity of the global currency market. IE: 5% markdown for China and a .3% mark down for all non-cheaters. Which is the cause of so much sniping during the G20.

By: asdfghjklqwer Mon, 15 Nov 2010 14:06:06 +0000 “bla, bla, … after a debilitating financial crisis, to a post-industrial and post-unipolar global economy: China and its *OVERVALUED* currency are largely to blame.”

This is plain wrong. The chinese currency is undervalued from the US perspective. Luckily, the author uses cool sounding words such as ‘acrimonious’. Otherwise we might think that she is outright incompetent.

By: FirstAdvisor Mon, 15 Nov 2010 12:53:13 +0000 I’m one of those who agree this op-ed was a waste of time for all concerned. If the opinion had been written by an East Asian, it might have been worth something. The opinions of Westerner occupational propagandists are worthless garbage.

By: vksaini Mon, 15 Nov 2010 12:41:51 +0000 The true present world currency problem is that the control of world trade/reserve currency US dollar rests with US. Instead world must come out & agree for its replacement with IMF dollar controlled by IMF.
In fair days US remained the biggest consumer of goods & services produced by China & rest of the world on its borrowing strength, US dollar being FX reserve currency of almost all the countries, without paying any heed and providing for repayments of international or domestic debt in its true value and not depreciated value by printing dollars at sweet will. So present fiscal crisis & economic crisis is the result of mismanagement of economy of US by its past governments. That fact is that US spent more than its savings….. unfortunately saved nothing for the rainy day except resorting to printing dollars!
Will this solve US problems? I am not very sure till US leaders, be those Republican or Democrats, make a common resolve to execute essential restructuring to pull its economy out of the mess instead of blaming each other for past failures. Are they prepared to gird up their loins to meet the challenge? I am keenly watching from my rooftop!

By: Simplerman Mon, 15 Nov 2010 12:38:14 +0000 Doesn’t the writer mean UNDERVALUED??

“China and its overvalued currency are largely to blame”.