Calls for 'punitive' US sanctions against China (Duncan Hunter)

Breaking News.ie ^ | 01/02/2007 - 15:08:00 (as noted on site) | The Associated Press

[GulfBreeze]

BreakingNews.ie

Calls for 'punitive' US sanctions against China

US lawmakers called for legislative action today to address a huge trade imbalance with China, reflecting what they described as a growing impatience among US citizens with Beijing’s economic policies.

At a congressional advisory panel, lawmakers also complained of massive Chinese counterfeiting of copyrighted goods that they said hurt American manufacturers. The focus, however, was a soaring US trade deficit with China.

“It is dangerous for our national security. It is dangerous for our economy and we need to do something about it,” Democratic Senator Ben Cardin told the US-China Economic and Security Review Commission.

Yesterday, Treasury Secretary Henry Paulson told sceptical lawmakers that new high-level talks with China offer the greatest chance of success in reducing the trade deficit.

Lawmakers from both political parties said they believed China would listen to American complaints only if the country faced punitive economic sanctions.

Beijing has also faced criticism this week for the January 11 destruction of a defunct Chinese weather satellite by a warhead fired from a missile.

The test has sparked fury among lawmakers who had been distracted by a fierce debate over US President George Bush’s handling of the war in Iraq.

It has the potential of worsening a host of tensions between the nations.

These include Washington’s pressure on China to support US efforts in the United Nations to punish Iran’s nuclear ambitions, complaints about China’s military build-up and Washington’s charge that China befriends international reprobates to secure sources of energy.

Analysts say that as politicians from both US parties begin to jockey for position in the 2008 elections, China will increasingly enter the political conversation in Washington.

Duncan Hunter, a long-shot Republican candidate for president in 2008, told reporters yesterday that China’s destruction of its satellite was a test of its “ability to blind American capability, with respect to our security apparatus”.

The test, he said, marked a new era of military competition in space with the communist-led country.

Democrats, who wrested control of both chambers of Congress from Republicans in November elections, and some Republicans say the Bush administration is also doing too little to protect Americans from what they call unfair Chinese economic practices.

Paulson, Washington’s point man on economic relations with Beijing, said that it is “in all of our interests to have China keep doing well” economically. “A bump in the road with China would have repercussions for all of us.”

© Thomas Crosbie Media 2007

[GulfBreeze]

There is simply no one on the scen calling things as clearly as Duncan Hunter. I hope the momentum he has gained continues to grow to a steam roller.

Come on Hunter fans. After leading in the poll by tremendous margins "Non-member Votes" have pushed another candidate to just ahead of Hunter.

Because he is solid on:
Life
Borders
Immigration
War On Terror
Strong Military
American Economy
Lower Taxes

FREEPERS WANT DUNCAN HUNTER FOR THE 2008 GOP NOMINEE - SO PLEASE VOTE IN THIS POLL.

http://www.freerepublic.com/perl/poll?poll=170

[GulfBreeze]

Antoninus can you send this one up on the list?

[WalterSkinner]

BTTT

[Hydroshock]

He keeps getting better and better.

[XR7]

Duncan Hunter, a long-shot Republican candidate for president in 2008

Sounds to me like he's the only viable Republican candidate for President to appear on the scene.

The rest of the so-called "hopefuls"?
Forget it.
RINOs all.

[shrinkermd]

The "yellow peril" again. Pluueeze, get used to a problem if you want to make it. The Chinese are not going away, they won't stop producing things and they gradually are developing an economic system that works. Presently, they sell cheap labor but soon they will have hi tech goods and services. As they increase the number of the middle class, they will become more, rather than less, like us and the other Western powers.

They still have a closed society with currency controls. When they do loosen these, watch their currency drop not increase. There are many rich people in China that would love to put some of their assets elsewhere.

The world economy is now so interrelated that it is impossible to tell who benefits from what. Cheap goods from China mean fewer manufacturing jobs here but the goods increase the living standards of those who purchase them.

Duncan Hunter may excite some but he will not change economic course no matter what job he is in.

[100-Fold_Return]

MSM is calling for punitive action against Iran, North Korea, and Venezuela--so CNN, [p]MSNBC, FOX et al won't give this guy the time of day, outside of scandals...

[XR7]

"China supports Palestinian, Arab cause": President Jiang
http://www.freerepublic.com/focus/f-news/674900/posts

[Eastbound]

Now, now, Duncan, must not anger our trade partners. We have humongous plans to build toll roads and railroads all over the country to transport their goods. We need to supply jobs to millions of illegals for future taxes. We need to compete with the European market economy or go belly-up. We need to continue to give China our latest weapons technology so they will be on par with us and not feel militarily threatened. Where is your spirit of multi-nationalism and homeland security?

/s

[agere_contra]

Absolutely. I think that Duncan Hunter would be an excellent President of the United States - and his healthy scepticism and aggression toward China is all to the good (compare and contrast with Loral/Clinton). But trade makes both trading partners prosperous - or it wouldn't be called "trade". Duncan Hunter shouldn't try to get in the way of the market.

[libs_kma]

Whats wrong with Chinese goods? My ipoc still works...now if I could only figure out what it does!

[Thunder90]

We should also slap punitave sanctions on the Russians, Kazahs, and the Belarussians.

[Kuehn12]

China is a different country than the Soviet Union. It may generations but it is possible that China may in the distant future become a democracy on its own. As the last adherents of Mao, Dung Xia Ping (I don't know how to spell his name so forgive me) die off. Doesn't any believe that 3rd and 4th generation leaders are going to be even a fraction of the believer in Socialist Doctrine as their predecessors. Not to Mr. Hunter, put punitive sanctions on China, and they will call in there 800 billion dollar marker. They have been buying are Treasuries for years, and then they will stop and start putting their enormous cash reserves into Euro Treasuries and investment vehicles. They might start charging more for exported goods and slap tariffs on any imports from the US. Oh, yeah they might start actively egging on the Iranians, giving them even more sophisticated weapons for which they can kill Americans. Even if they didn't the economic effect of really picking a fight with China would be devastating. Do you think that the Treasury has 800 billion to make good on those notes.

[BureaucratusMaximus]

This link was posted on a similar thread...but I deem it to be some damn good reading and "on topic" regarding this thread as well: http://www.house.gov/coxreport/cont/gncont.html

I'm almost through all of it. VERY interesting.

[polymuser]

I would prefer that we require they have all the business 'adjunts' we have in America:

Taxes
Workers unions
Taxes
EPA
Taxes
OSHA
Taxes
Workers Comp.
Taxes
HHS
Taxes
ADA
Taxes
DOT
Taxes
Trial Lawyers
Taxes
Product liability
Taxes
Minimum wage
Taxes
Sexual harassment laws
Taxes

That'll take care of 'em.

[Always Independent]

We should be charging a very hefty fee when they cash in their US securities.

[Guenevere]

bttt

[GulfBreeze]

China could not possibly pull out 800Billion at once for a number of reasons.

1) Their wouldn't be a market for a single sale of bonds of that size and they would immediately lose 30% to 40% of their investment.
2) America could declare the move a hostile financial attack and either nationalize their holdings or place them in suspense. They would 'tacitly' lose 100% of their holdings.
3) They would lose what is left of their US markets and lose far more of than this puny debt.


China is engaging in a currency scam. It is foolish to pretend that it is not happening. Since this behavior is outside and manipulative of the free market. The free market cannot correct it.

[Small-L]

As far as I'm concerned, Hunter doesn't have a chance. His record shows him to be another free-spending, big-government, RINO. CAGW rated him a 71%, two points lower than the already miserable average rating for Republicans. NTU rated him 51%, three points below the Republican average. The American Conservative Union rated him 92% which puts him tied for 103rd place among Republicans in the House. Despite his cheerleaders here on FR, there are many others in the GOP that have much better records as conservatives. He may not be among the worst, but he's sure not among the best.

[GulfBreeze]

you're a dork