Posted on 04/16/2010 8:23:34 PM PDT by thewoodwardreport.com
The U.S. Treasury Department wisely delayed its semiannual report on global exchange rates so that more sensible heads can prevail before we stumble into a trade fight with China.
The congressionally mandated report surveys exchange rates and other indicators of the global economy and determines whether any U.S. trading partners are guilty of "currency manipulation." Treasury Secretary Timothy F. Geithner announced this month that he would delay the scheduled April 15 release to give more time to negotiate with top Chinese officials. President Obama's meeting with Chinese President Hu Jintao in Washington this week brought no breakthrough, but it did raise expectations that China will soon allow its currency to resume appreciating.
Among the less sensible heads are 130 members of Congress who wrote to Geithner last month demanding tough action against China. They argued that Beijing has artificially depressed the value of its currency to promote its goods in other markets and discourage exports to China.
(Excerpt) Read more at latimes.com ...
Okay, fine—the “hottest” export market. But we are still trading at a loss. So...what am I missing?
What we have been exporting is our means of production.
Entire factories have been shipped lock, stock and barrel to commie China.
This article is unreal, talking about China being our “hottest” export market, and those monster ag numbers up to $13.8 billion. But why not look at the total picture for 2009:
Exports to China $69,576,000,000
Imports from China 296,402,000,000
Trade Deficit 226,826,000,000
Oh, yeah, a trade war with China would just kill us. Who has the most to lose here?
http://www.census.gov/foreign-trade/balance/c5700.html#2009
I do not care what one thinks of our trad policies with China. The US Treasury department has information that it is required to release, and it has chosen not to do so. Usually, the sharing of data helps conflicting sides to resolve problems. Geithner is hiding data so that the "correct" solution cannot be reached.
But that is par for the administration.
Really?...Look, why don't we just get down to brass tacks here and admit that the real issue to be discussed is whether or not China is manipulating their currency.
Exactly! America has stupidly transferred it's industrial know-how to the Chi-Coms and received nothing but an ultra high deficit in its balance of trade with the Chi-Coms. Meanwhile, China expands it military and threatens to nuke LA when ever their Chi-Com butts itch.
My point for posting was to point out that the Treasury was once again not doing its job. It is hard to have a debate when the Treasury is withholding key information.
The Liberal Globalists will spin anything.....when you have a massive trade deficit with one country...you still are not exporting enough.
Love it when Liberal Globalists spin.....they spin more because people are waking up to the failure of Liberal Statist Free Trade Globalists.
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