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What is Romney's beef with China?

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posted on Oct, 21 2012 @ 11:17 PM

"The economic rise of China and other countries across Asia poses a different type of challenge. China and the rest of Asia are on the move economically and technologically. They are a family-oriented, educated, hardworking, and mercantile people. Trade and commerce with these huge new economies can further strengthen our economy and propel our growth. If America fails to act, we will be eclipsed. We have to keep our markets open or we go the way of Russia and the Soviet Union, which is a collapse. And I recognize there are some people who will argue for protectionism because the short-term benefits sound pretty good, but long term you kill your economy, you kill the future."

One thing I don't get is he wants less involvement with the Chinese economy. It sounds like China is well on its way to become a super power of the world's economy. In the world economy, when one part benefits all parts benefit right?

I guess America being "eclipsed" is just unacceptable. How is that helping the US, and by proxy, the world economy? If we aren't number one, we are going to go somewhere else.

Like mitt Romney proposes, opening more trade with South America. Which in my mind is a repeat of what we did with China. Soon enough we will be shipping our jobs not overseas, just south of the border. Well whats the point in that? Are we going to go through this same dilemma with different countries down the road?

ROMNEY [on videotape]: I will label China as it is, a currency manipulator, and I will go after them for stealing our intellectual property, and they will recognize that if they cheat, there is a price to pay. I certainly don't want a trade war with anybody, and we're not going to have a trade war, but we can't have a trade surrender either.

China has been a currency manipulator for years and years and years. And the president has a regular opportunity to — to label them as a — as a currency manipulator but refuses to do so. On day one, I will label China a currency manipulator, which will allow me as president to be able to put in place, if necessary, tariffs where I believe that they are taking unfair advantage of our manufacturers.

I am not an expert on currency manipulation. China's government could have a hand in something like that or they could not. Again I'm no expert. One thing I often ponder is the American dollar has been devalued over the decades, with the fed printing more and more, wouldn't the US be guilty of the same crime?

Here is an example.

According to data from the University of Illinois professors Lawrence H. Officer and Samuel H. Williamson, the value of the dollar had depreciated so much by 2008 that it took $5.31 to buy what it cost $1 in 1971 when Nixon decided that the dollar would no longer be backed by gold. Until then, $35 could buy a troy ounce of gold every day. Our dollar today is worth less than 19 cents when compared to 1971 and the price of gold fluctuates between $1,500-1,700 per ounce.

Could trying to crack down on China so much have anything to do with China holding around 8% our our total debt in bills, notes and bonds, according to the Treasury.

8 percent doesn't sound like a whole lot. Its around $1,280,000,000,000. Yeah 1 trillion, 280 billion dollars. Oh boy.

Using tariffs, trying to chip away at the debt. Which will undoubtedly fail and only increase more illegal practices to go around any new regulations put in place. Not to mention straining relations between the countries.

Just something I wanted to get some other people's input on.

posted on Oct, 21 2012 @ 11:21 PM
Romney has surrounded himself with Bush era neo-cons who will push for confrontation with Iran, Russia, and China at all costs.

The military industrial complex owns them.

posted on Oct, 21 2012 @ 11:21 PM
That's it. Romney is mad because China won't buy our Beef.

posted on Oct, 21 2012 @ 11:23 PM

Originally posted by rickymouse
That's it. Romney is mad because China won't buy our Beef.

Well seeing what McDonalds did (or still does) to their beef who could blame them

posted on Oct, 21 2012 @ 11:51 PM
Romney is right about the manipulations and the intellectual property theft.

posted on Oct, 22 2012 @ 12:48 AM

Originally posted by sirjunlegun
Romney is right about the manipulations and the intellectual property theft.

I am all for the idea of intellectual property, to a certain degree.

I just don't see the point in creating something for the sole purpose of monetary gain. Sure people write books, produce movies, sell products, etc. Money is only as important as they make it.

And they should be compensated for the time and effort put into their product.

Lets just say for instance making a movie. Using Paranormal Activity as an example. Just the first mind you.

Release Date


Worldwide Gross

Percentage Return

Note: The profit and loss figures are very rough estimates based on the assumption that 50% of box office receipts were returned to the studio. They don't include ancillary (video, TV etc.) earnings, and serve only as a guide.

One could say, holy crap, they did a great job. People were obviously eager to see it. With 3 more movies made after it, they knew what they were doing. A 655,505.52% return on the money invested is phenomenal!

Then you have the question, how much was that idea worth? Where is that money going? Is it going to go back into the economy, therefore strengthening it? Or is a majority of it sitting in bank accounts benefiting a small minority of people.

Again I am all for cashing in on a great idea, its just human nature to want more and more.

The real question is when is it enough? Will people who have made, in their opinion "enough" release their work for free for the enjoyment of everyone, or continue to rake in royalties until the day they die?

Thats up to the people who make stuff.

Its big businesses who buy rights to all sorts of things and demand payment for something they had no hand in producing that gets under my skin.

These are the people who cash in on other people's work, even long after the creators die and treat the work/art like it was theirs.

Which in my mind, is the same intellectual theft as they say people are committing.

Thats just me, I respect anyone else's opinions.

I may not agree with you but i will defend your right to say it."

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