Obama On Chinese Economy: 'Enough's Enough' Of 'Gaming' The International System

Using some of his toughest language yet against China, Obama, a day after face-to-face talks with President Hu Jintao, demanded that China stop "gaming" the international system and create a level playing field for U.S. and other foreign businesses.

www.huffingtonpost.com...

I laughed when I first read this.. The US which has written many of the international trade laws complaining that China does not abide by them.

Well really you would have to be a bit stupid to abide by them. Look at what the IMF is doing to Greece. Stripping a country of its assets to pay back a debt exerted on them by the banking system
Look at the aid packages given out by the US and other western nations, that give with one hand and take with two.

The global banking cartel is pushing very hard to get its hands on China and Obama is its ambasdor. The strongest Bilderberg president yet in America. This is the same banking cartel that authorised the bombing of libya as it did not have a Rockefeller central banking system..

Well the Chineseshot back saying..

it refused to abide by international economic rules that it had no part in writing.

and looking at what a mess the international trade laws have made of the rest of the world... Who can blame them... The tentacles of the elite and now reaching out to grab China.

However China is not a small middle eastern country. They with have to employ a different method to catch china. This is global imperialism and China are not playing...

Good for China.
It's about time other countries told the USA (aka IMF/BIlder.../NWO/ etc puppets) to frak off.

No You don't own them, if you want to trade with them then you do it on their terms at this point because as much as you despise it, you are dependent on them. And they know it!

ironic.

we have a capitalist president who is re-distributing money faster than the eye can see

telling a communist leader to stop finding ways to increase profits

China and Rothschilds already are doing business ... both ways.

Bank of China Limited (BOC) SSE: 601988 SEHK: 3988 (simplified Chinese: 中国银行; traditional Chinese: 中國銀行; pinyin: Zhōngguó Yínháng; often abbreviated as 中銀 or 中行) is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China. From its establishment until 1942, it issued banknotes on behalf of the Government of the Republic of China along with the "Big Four" banks of the period: the Central Bank of China, Farmers Bank of China and Bank of Communications. Although it initially functioned as the Chinese central bank, in 1928 the Central Bank of China replaced it in that role. Subsequently, BOC became a purely commercial bank. Its headquarters are in Xicheng District, Beijing.[2]

In December 2010, the Bank of China New York branch began offering RMB products for Americans.[3] This is the first major Chinese bank to offer such a product currently.

2008 Bank of China buys 20 percent stake in La Compagnie Financiere Edmond de Rothschild (LCFR) for 236.3 million euros (US$340 million)

en.wikipedia.org...

When Jennifer Yu, Rothschild's top executive in China, wanted the firm to advise Chinese carmaker Zhejiang Geely on its bid for Volvo, some colleagues at the bank's headquarters in Europe were skeptical. A senior banker asked her how a "mouse" like Geely could swallow an "elephant" like Volvo. "There's a dragon behind this mouse, and it's China," Yu recalls answering. She and the team handling Geely won the argument, and Geely won the bidding. It completed the takeover of Volvo from Ford Motor (F) for more than $1.3 billion on Aug. 2.

Rothschild, the more-than-200-year-old family-controlled banking dynasty, is making a big move in China, and Yu is leading the charge.

Jennifer Yu Leads Rothschild's China Push

The People's Bank of China (PBC or PBOC) is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China. The People’s Bank of China has the most financial assets of any single public finance institution ever.[2]

People's Bank of China


All the politicing is diversionary.


Rothschild targets China


Rothschild Offices
(several in China)

reply to post by xuenchen




As if China would start playing by the rules now, there's no way Obama could simply ask nicely and his wish will come true. China will resist until the very end.

reply to post by ChaoticOrder


There's "LOADS" of international corporations in China also.

Not small stones either

In 1979, there were 100 foreign-owned enterprises in China. In 1998, there were 280,000. As of 2007, foreign companies employed 25 million people in China. U.S. companies with offices in Beijing include Google, Microsoft, FMC, Cigna, Unisys and General Electric. U.S. companies with major production facilities in Shanghai include Dupont, Rohm & Haas and General Electric. As of early 2010, Fortune 500 companies had 98 research and development facilities in China.

Foreign companies in China include Coca Cola, Pepsi Cola, Nike, AT&T Corp., Bristol-Myers Squibb Co., Citibank, Morgan Stanley & Co., Volkswagen AG, Unilever, Toshiba Corp., Matsu#a Electrical Industrial Co., General Motors, France's Citreon, Philips Electronics, Cisco, Microsoft, Motorola, Samsung Electronics, NEC. Proctor and Gamble, Wringley chewing gum.and Hitachi Ltd.

FOREIGN COMPANIES IN CHINA

Chasing Rare Earths, Foreign Companies Expand in China


Welcome to the One World Economy !

.... as in "you O.W.E. me money !

Oh and one more thing .... China buys up loads of U.S. Bonds !

Whether they helped write the regulations or not, keeping their currency from gaining value isn't really fair. If they decided to let the value increase suddenly to its real value, it'd not be pleasant for other countries.

It'd certainly help increase jobs over here which many seem to be demanding.

Originally posted by Turq1
Whether they helped write the regulations or not, keeping their currency from gaining value isn't really fair. If they decided to let the value increase suddenly to its real value, it'd not be pleasant for other countries.

It'd certainly help increase jobs over here which many seem to be demanding.

edit on 14-11-2011 by Turq1 because: (no reason given)

"It'd certainly help increase jobs over here which many seem to be demanding"

How so? Pray tell.

The Chinese buy govt bonds from other nations.

Then they take the excess money and buy gold.

Does that sound like communism?

reply to post by purplemer


The issues we have with China arent the result of US laws. The complaints the Us has filed are because of WTO violations, and the US is not the only country to file those comaplaints. The EU has also filed complaints about chinese trade practicies and currency manipulation.

Originally posted by Xcathdra
reply to post by purplemer

 

The issues we have with China arent the result of US laws. The complaints the Us has filed are because of WTO violations, and the US is not the only country to file those comaplaints. The EU has also filed complaints about chinese trade practicies and currency manipulation.

I wonder why the governments don't just stop doing business.

????

corporate profits maybe ?

reply to post by xuenchen


Uhm no.. WTO violations.

* - currency manipulation. Before China was admitted into the WTO, they agreed to allow their currency to free float on the open markt as all wto countries do. They were given a 5 year transition time. China joined the WTO in 2001.... 10 years later still no free float.

* - Using their monopolies in certain ecenomic sectors, like rare earth metals, to drive up the price as well as using them as a for of punishment. As an example China punished Japan by stopping all rare earth elements because japan did not support a position of chinas.

* - refusing to allow foreign business in china as a single entity. Any foreign company doing business in china must be paired with a Chinese business counterpart company, who owns half the business.

* - creating a situation where foreign companies are charged a very large sum of money for "health care costs". Chinese companies dont pay this.

* - Creating an atmosphere of, for lack of a better word, discombobulation, forcing the foreign business to essentially close up shop, allowing the chinese counterpart to assume control over the business's chinese operations, at which point the discombobulation disappears for the chinese company.

* Stealing trade secrete / economic / industrial espionage by constantly hacking into Us Government / Corporate databases.

* - refusing to allow foreign products in their market system.

* Copyright / patent infringment - china routinely steals the data, reverse engineers it, then drops the counterfit parts into their items, which are sold for cheaper prices than american companies could produce them.

These are just a few of the WTO complaints that have been filed.

reply to post by Xcathdra

* - refusing to allow foreign business in china as a single entity. Any foreign company doing business in china must be paired with a Chinese business counterpart company, who owns half the business.

* - refusing to allow foreign products in their market system.

I don't see how those things could be considered legitimate complaints. China has the right to make those decisions. They are protecting their jobs and businesses by making it a harder for foreign competitors to get a strong hold on the market. And that's completely reasonable.

reply to post by Xcathdra

* - refusing to allow foreign business in china as a single entity. Any foreign company doing business in china must be paired with a Chinese business counterpart company, who owns half the business.

this may have changed. not sure.

Wholly foreign-owned enterprises

Wholly foreign-owned enterprises are totally invested by foreign parties in China (and in accordance with the laws of China). Again, these parties must be foreign companies, enterprises, or other economic organizations and individuals. According to Chinese law, a prospective foreign-capital enterprise must benefit the development of China’s national economy and be capable of positive economic results. The State encourages foreign-capital enterprises to use advanced technology and equipment, engage in the development of new products, realize the upgrading of products and the replacement of old products with new ones, and economize on energy and raw materials. Foreign-capital enterprises which are export orientated are also encouraged (though not exclusively). The wholly foreign-owned enterprises often take the form of limited liability.

Foreign Invested holding company

Foreign invested holding companies are Chinese–foreign equity joint ventures or wholly foreign-owned enterprises within Chinese territory. They deal with direct investment, usually in the form of limited liability companies. Foreign investors who apply to establish such a company need substantial assets backed up by a good reputation. They need to have established a certain number of companies within China, and have over $30 million of fully paid-in registered capital. Upon the approval of the Chinese government, foreign invested holding companies could enjoy a broader scope of management than other ordinary companies, as an incentive for big overseas companies to carry out their investment plans.

Doing business in China

reply to post by purplemer


It is really funny hearing Obama complaining about a nation gaming the international system.

The irony, the hypocrisy, the US has been gaming the world for 60 years.

It's been so long that obviously people like Obama think this is the normal status quo.

Did anyone force American manufacturers to go overseas ? no.

Did anyone try to stop them ? no.

Is anyone holding them to account for their treachery to the American public ? no.

The once richest nation on Earth now the most indebted, what went wrong ?

China are the next super-power, the American century is over cos you just can't compete on cost.

Big mac and fries to go please...erm second thoughts forget it , i,ll have a Chinese curry instead.

Cosmic..

China has problems with foreigners too, just like anybody else !

Multinational Corporations Violating China's Environmental Laws and Regulations

Over the last three years, the Chinese government has punished 33 multinational corporations for violating the nation’s environmental laws and regulations, according to Ma Jun, director of the nongovernmental Institute of Public & Environmental Affairs. Ma’s announcement in September came as a surprise to many, as the Chinese public has tended to assume that multinational companies abide more strictly by the law than some in fact do in this heavily polluted country.

The exposed companies include subsidiaries of world-renowned corporations such as American Standard, Panasonic, Pepsi, Nestle, and 3M. They were punished mainly for discharges of substandard waste water and for unauthorized construction activities that occurred in the absence of proper environmental impact assessments.

When researchers at Ma’s institute began building a database to map China’s water pollution earlier this year, they used data from the websites of various Chinese environmental protection authorities. During the process, they came across a list of multinational corporations that had been cited for environmentally harmful activities for the years 2004–06.

Hmmmmm ... sounds like old home week

reply to post by ChaoticOrder


They are legitimate complaints since they run counter to WTO requirements.

If china doesnt want to follow the WTO, then why did they join it? Secndly Chinas response about ibeing able to ignore bits and pieces they dont like, is nowhere in the guidelines.

Aside from that Im not sure how you can justify the theft of intelectual property / patents / copyrights.

reply to post by xuenchen


The parts you highlighted describes what I was talking about - foreign companies being required to pair up etc. I get china is soveregn and has its own rules. I just dont accept their answers when pressed on violations. When you join you agree to the requirements. If you dont like the requirements, dont join.

reply to post by xuenchen


Whats interesting about the article - Only foreign companies were fined / held accountible, while thier chinese half of the business was left alone.

this goes back to China finding ways to attract foreign investment, to get them in country, to get them to build all the infrastructure, and to get operations going then boom -

issues come up, heaviny fines handed out the the foreign half of the business, forcing them out, leaving everything for the chinese half, who goes on, business as usual.

reply to post by Xcathdra

The issues we have with China arent the result of US laws. The complaints the Us has filed are because of WTO violations

Yes that goes without saying.. It is the rich countires trying to implement there control over a poorer country. It is a standard model that is used globally.

The WTO, the World Bank and the IMF are defenders of US imperlism.They are in place to protect and spread the global banking empire. There role is protect multinationals and to keep the west dominate in the global economy.

The IMF chooses which countries to give loans to and on what terms. Well out of remit of the democratic systems in place. The loans are usually given out with conditions of structural change to the country and economy. If these terms are not agreed to they are if possible pursued with aggression with the likes of CIA.
Once the trade laws have been accepted multinationals enter and buy up the resources and workers..
In the long terms the poorer countries that agree to.

In principle the above organisations and the Western world with the US in particular cannot be separated. These are organisations with politcal motives.. For example US, again through the IMF forcing Mexico to cease all oil sales to Nicaragua.

This is world imperialism and China does not want to play....

Originally posted by purplemer
Yes that goes without saying.. It is the rich countires trying to implement there control over a poorer country. It is a standard model that is used globally.

Respectfully if you dont mind me asking - Why is it ok for China to violate WTO guidelines, and why are you ok with thier actions? The issues with China / US / WTO have nothing to do with whose is rich and who is poor.

However, if you really want to go down that road then I remind you the US is 15 trillion in debt where china has about 3 trillion in cash reserves. Using your argument then the Us has every right to complain about china and its methods, since its rich and the US is not.

Originally posted by purplemer
The WTO, the World Bank and the IMF are defenders of US imperlism.They are in place to protect and spread the global banking empire. There role is protect multinationals and to keep the west dominate in the global economy.

Please support this accusation with facts / sources please. Also, your logic here, again, would favor the US - not China, since china is protecting its businesses / multinational corporations (Chinese half) and the chinese dominance in key global economic sectors.

Originally posted by purplemer
The IMF chooses which countries to give loans to and on what terms. Well out of remit of the democratic systems in place. The loans are usually given out with conditions of structural change to the country and economy. If these terms are not agreed to they are if possible pursued with aggression with the likes of CIA.
Once the trade laws have been accepted multinationals enter and buy up the resources and workers..
In the long terms the poorer countries that agree to.

agian please provide evidnce to support your claim, specifically the CIA comment, which seems to be another one of those catc alls people like to use (NWO / TPTB / Bildeberg / Rothschild / etc).

The IMF is part of the UN, not the US. and as such uses their own guidelines for loans. As far as the conditions you dont like there is an easy solution - the country asking for the money can instead figure out another way to get funding from other sources.

If you ask me for 50 million dollars, im going to ask what its going to be used for, since the premise behind the IMF is to assist developing nations. If you want to spend money in a sector that the IMF does not support, they wont relase the money.

Why should the IMF be required to pass out cash with the expectation the receiving country can do whatever they wish with the money? If you go a bank and get approved for a car loan, and instead of buying the car you decide to buy the rare pokemon trading card set, what do you think would occur?

If its the countries own money (from taxes / selling / trading of items etc) they can spend the money on whatever they wish. When you ask a person for money, and are told you will get it with some conditions, how is that screwing over developing countries? No conditions = any country can ask for and must receve the aid since you eliminated the voersite ability of the IMF.

Originally posted by purplemer
In principle the above organisations and the Western world with the US in particular cannot be separated. These are organisations with politcal motives.. For example US, again through the IMF forcing Mexico to cease all oil sales to Nicaragua.

I think what you are refering to deals with a treaty called the San Jose Accord oil diplomacy. It is an agreement between Mexico and Venezuela and deals with cheap oil supplies to central american nations. The accord sets the price of oil very much below the market, and they freeze the price for those countries.

Recently there was incident involving Chavez and his usual political grandstanding that suiggested a change in the manner that accord works, essentially wanting to use it as a political vice to gain support from countries who dont care for his government.

I could be wrong, so if its not this treaty can you link me the article?


San Jose Accord oil diplomacy
This is world imperialism and China does not want to play....

I still dont think your seeing the big picture, however, its your view and I respect that. What I am getting from your posts, and correct me if im wrong, is that people / countries who hate the US want them to stay out of other nations affairs and mind their own business, yet they are perfectly ok to take US monetary aid?

If you could find the info / links from your response I would appreciate it.

Thanks