Posted on 03/09/2004 8:50:10 PM PST by maui_hawaii
Edited on 07/19/2004 2:13:27 PM PDT by Jim Robinson. [history]
March 9 (Bloomberg) -- The Bush administration prodded China and India to cut barriers to trade and investment, saying it's the best way for them to counter growing protectionism in the U.S.
China also must take steps to revalue its currency and end a tax on foreign-made semiconductors, U.S. Trade Representative Robert Zoellick told Congress today. The U.S. may soon file its first complaint at the World Trade Organization against China to get an end to the tax on U.S.-made computer chips, he said.
(Excerpt) Read more at quote.bloomberg.com ...
Trade does...but we don't have trade going on especially with some big players on the stage...and thats the problem.
"Encouraged." New Dehli is shivering in their boots.
< /sarcasm>
Pricing is done on total package deal...not just labor costs.
It depends on what products we are talking about, but in large part China only beats US manufacturing prices by the single digit percentages. It depends on what. Thats not just talking about labor (which some single mindedly beat to death), but rather a comprehensive price of what gets to the customer....
ROFLMAO! Unwilling? Utter nonsense. Unable is more like it. We owe lots of money to China, and they continue to buy our debt. If they quit buying, the rates go up - and our economy is too fragile to endure increased interest rates. They can bring us to heel just by not lending us more money.
We would be wise to learn to tug our forelocks, look down at the ground, and say "Yessir, Massa" to our new Chinese overlords.
The free traders can be proud of the chains of slavery they've wrought for all of us to wear! Perhaps they can even arrange for their sons to become valued eunuchs to a wealthy Chinese merchant.
The debt card IMHO is a running joke in my book.
Really? And perhaps, with just a bit of encouragement, you might be willing to share the humor with us all? How is it that 1.5 Trillion USD held by China and Japan is so amusing? Do tell, please!
China owns about 2% of US debt...thats no where near 1.5 trillion...not even close.
The debt market doesn't work like many think...
Got an example of the percentage breakdown of the cost components of a specific item (i.e. labor, materials, shipping, taxes and other government fees etc.)?
China plus Hong Kong held about $200 billion in treasury securities as of Dec '03. Japan held about $545 billion in the same month.
The lesson is: if Japan decides to let the Yen float, America enters a recession. However, Japan's economy is so weak that doesn't seem likely for the forseeable future.
As you say, and amount currently held by China and Hong Kong is a little over $210 billion. The total amount, on the grand total line of your link, is the $1.5 trillion dollar amount I was referring to.
Although I think China represents a greater strategic threat than other countries, the total amount of debt (all of which must be serviced) is important IMO.
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