Comments on: U.S. currency bill likely misses target http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Andymc7 http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/#comment-29395 Wed, 17 Mar 2010 17:07:39 +0000 http://blogs.reuters.com/great-debate/?p=6764#comment-29395 I agree with George Sherman, we need to start reading labels and support our own businesses. The cheap labor or India, China, Tawian create cheap goods yes but at the expense of the United States as a whole. Look at our industrial jobs, gone. All shipped to China, India – Midal Steel anyone? When you call customer service, who do you talk to? If an American you are lucky.

There is a great balancing that will take place if globalization continues. The living standards of the United States will fall as jobs go overseas for cheaper labor and resources. If we don’t protect something then the living standards between us and the rest of the world will meet in the middle. Does anyone here want to live like they do in India or China (besides Hong Kong)? Yes its protectionism. But is it also patriotism?

Let me also say that I am a conservative before I get labelled otherwise.

Compare how we live to how Europe lives? Cost of living – through the roof, standard of living – worse than the United States for sure and Europe was once the center of the world for business. It will happen if globalization and ‘free trade’ continue. We cannot compete with cheap labor.

And yes China is completely manipulating is currency. To argue otherwise is ignorance or politics. And to say that the United States wants it only for our benefit is false. They do manipulate the currency and yes it would help us for it to float but its also protectionism on their side.

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By: DanG http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/#comment-29394 Wed, 17 Mar 2010 16:23:11 +0000 http://blogs.reuters.com/great-debate/?p=6764#comment-29394 If there is no law that prevents the Chinese from doing what they are doing then the laws should be changed, or ignored.

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By: PapaDisco http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/#comment-29393 Wed, 17 Mar 2010 15:57:01 +0000 http://blogs.reuters.com/great-debate/?p=6764#comment-29393 right on zhongguotong!

The U.S.; society, politicians and media, needs to stop reacting to China’s feigned indignation and just focus on doing good business. Why are we always worried about letting them save face? That’s just a show. Negotiate on the numbers, screw the emotion.

National economies should compete on the basis of productivity, quality and inventiveness; not on the basis of lower standard of living, poorer environmental quality and artificial currency manipulation.

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By: zhongguotong http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/#comment-29391 Wed, 17 Mar 2010 15:12:16 +0000 http://blogs.reuters.com/great-debate/?p=6764#comment-29391 China is a currency manipulator, plain and simple. Any govenerment that refuses to let its currency float and comes up with and arbitrary peg is de facto a currency manipulator. There is simply no other way to put it.

I hate it when non-Mandarin speakers spend a few weeks in China on business and use their limited knowledge to defend Chiness policies. First off “gwai lo” is cantonese and not a slang used by mainlanders – laiwai and dabizi are more likely. The US should not concern itself with Chinese feelings or how the Chinese public will react to our demands for a fair playing field! They will always claim domestic concerns and hurt feelings when it is in their interest. The US needs to look out for its own interests — in the end we will come to an accomodation on trade that is more fair if we are firm, but only when we hold thier feet to the fire. They will not change of thier own free will and think we are weak for not looking out for our own interests as they do. In the end, after some real tough talk and negotiations, they will give us what we want because it is in their interest to do so and not because they want to….access to the US market is just too valuable to them not to make the modest changes we demand, but they will only make them if we demand it of them!

Lastly, there is not such thing as free trade, simply a series of trade preferences codified under WTO. In the end the Chinese got a sweetheart deal in 1999 under Clinton and now we are trying to figure out a way to make the playing field a little more level and surprise the Chinese are happy with things just the way they are. The deal as it is currently constructed is bad to America, the world and in the long run China too.

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By: Voice-of-Reason http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/#comment-29390 Wed, 17 Mar 2010 14:35:15 +0000 http://blogs.reuters.com/great-debate/?p=6764#comment-29390 This article goes against logic and reason. Why would we want to let China continue to manipulate their currency to the detriment of global trade? The EU, Brazil, India, the US, the UK, and many South American countries have complained that China’s peg to the dollar creates an unfair trade advantage. This Chinese mercantilist approach to global trade is what is creating global economic imbalances which contributed to the recession the world has experienced over the last 2 years.

If China isn’t going to step up to the plate and do the responsible thing, (which they are required to do as a member of the WTO), then there needs to be consequences. George Bush refused to push the consequences hoping that China would act out of good will and revaluate the RMB. Obviously that never worked. If China won’t correct their mercantilist policies, then we need to show them the consequences of their actions. I think the bill Mr. Dodd is suggesting is rightly due. The US is the #1 export market for China. If we slap tarriffs on their exports to compensate for the manipulated exchange rate, then that will make China step onto a fair playing ground.

China has shown that they can’t be trusted to fulfill WTO commitments.

Free Trade Only Works When Everyone Plays By The Rules!!!

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By: GeorgeSherman http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/#comment-29389 Wed, 17 Mar 2010 14:34:42 +0000 http://blogs.reuters.com/great-debate/?p=6764#comment-29389 Maybe it is time for the US to look at doing its own manufacturing. This globaliztion experiment seems a dismal failure for the US citizen.
Maybe US businesses need to look into building our own goods and services from our own available raw materials.
US citizens should start reading labels and buy US manufactured goods from US materials.
Maybe then the US will be able to come to the table with something other than “hat in hand”.

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By: axiom321 http://blogs.reuters.com/great-debate/2010/03/16/u-s-currency-bill-likely-misses-target/#comment-29388 Wed, 17 Mar 2010 14:05:27 +0000 http://blogs.reuters.com/great-debate/?p=6764#comment-29388 China is in a cylce they can’t stop. It would require the US and other developed countries to stop it. China is competitive buy an artificial currency not because they are more productive. If they left the Yuan free then they will be forced to increrase productivity and that is difficult to do plus will create unemployment (social unrest). China to stop buying T-bonds is an empty threat they can’t stop buying otherwise the Dollar will decrease value what goes against China’s interest.

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