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Originally posted by Rigel Kent
Most consumer goods in China are counterfiet and that is what makes them affordable to the general public. Why would they want to buy American goods at (as they see) vastly inflated prices?
I am guessing that you have never been to China or perhaps you would know that the cultural differences are so vast and that you can not apply the same consumer models that you apply in US unless you think that a culture that is barely a few hundred yrs old can change one that is many thousands. Unless of course you think that they want to be just like Americans.
"We will work to increase our imports from the United States," he said, adding: "We hope the U.S. will relax its controls and restrictions on exports to China of its high-tech technologies."
Originally posted by GreenBicMan
reply to post by Rigel Kent
Sorry, but that is terrible advice IMO.
Originally posted by mikerussellus
Please forgive the ignorance, but what does that mean for us? "We the Peons..."
I do know it isn't good, but in basic nut and bolts, how will the average american be affected?
Originally posted by marg6043
reply to post by John Matrix
Sorry to burst your bubble but I see Israel been ignore more than been seek after, Israel have nothing that any of those countries wants or need.
Originally posted by marg6043
reply to post by gormly
When doom and Gloom comes from mister economy fixer and the soon to be the economic Czar of Czar you better listen.
Bernanke: This may be worse than Great Depression
www.abovetopsecret.com...
Originally posted by mikerussellus
Please forgive the ignorance, but what does that mean for us? "We the Peons..."
I do know it isn't good, but in basic nut and bolts, how will the average american be affected?
First, let's acknowledge--and dismiss--the main subtexts which play out in any discussion of U.S.-China trade: Many of the "China is the inevitable superpower of the 21st Century" crowd are, beneath their cheerleading, deeply anti-American; they hope China replaces the U.S. as the global superpower not because they are enamored of China (though they may be) but because they loathe the policies and indeed, the power, of the U.S. In this they are akin to the Soviet sympathizers who romanticized life in the Cold War gulag/USSR because they disapproved of U.S. policy and power.
[edit on 29-7-2009 by SLAYER69]
While the U.S. and Western economies have faced a credit crisis, there is a credit feeding frenzy happening in China. China state banks have lent nearly $1.1 trillion in the first half of the year -- more than the $800 billion U.S. stimulus or the $586 billion the Chinese government is spending to bolster its economy. Video CNN's John Vause reports on China's spending »
The record lending spree -- equal to one-quarter of the nation's total economic output -- is helping China's economy grow close to 8 percent the last quarter.
While boosting domestic consumption is seen as crucial to help reduce China's reliance on exports, economists see signs of trouble ahead.
"China has a $4 trillion economy and has (public and private) loans out of $1 trillion," Jerry Lou, China strategist for Morgan Stanley, told CNN recently. "Its loan book is out of balance."
As the world turns
China has recently warned its banks that their lending is too aggressive, but if they cut back on making capital available, the growth of the economy could be compromised.
China chided the US about its increasing deficit when official from the country visited America this week. What was left unsaid is that the Chinese have trouble in their own economy, trouble created by government policy, which could hurt China as much long-term as US borrowing will hurt the American recovery.
Originally posted by GreenBicMan
reply to post by jmotley
Well you are correct in 2 forms.
First of all it was the avg citizen that got us into this situation.
Through living over their means of course.
On the other front look how much we pushed for not funding the bailouts. You can tell politicians were scared because people were finally speaking up - even as far as the (R) from Texas about seceding.
Didn't really matter though, and in retrospect maybe we did need it, or maybe we didn't.. the markets were calling for it though - until the last leg up the markets were calling for another but that went away real quick after another 100 SP points to the upside.
If enough people get pissed you can make things happen, I mean look at California and their clubs etc.. (small ex. of course) - But it can go both ways obviously
Originally posted by GreenBicMan
But seriously, if someone can come up with something better than "credits" (sdr's) like we are on planet Tatooine, I am all ears