China’s bosses are abandoning ship

American capitalism at its best.

In the 1970s the Arab oil sheiks did not trust the american dollar and would only take gold for there oil.

This drove the price of gold to $800+
The the wall street boys turned it around and screwed the sheiks by dropping gold to $250 a ounce.

This time it was the Chinese that got taken.
They were selling trillions of dollars of products in the US.
and had billions they needed to invest.
the Chinese invested it in the US.
And when our market crashed they lost billions that they now need to prop up the economy.

In the US we have the government to fix things
TOUGH LUCK in china there government will blame it on the Chinese corporations
I expect a few Chinese CEOs will get a blindfold and a wall to stand in front of.

Give it 5 years and the US will be back to normal (baring Obama screwing thing up)

China will take 10+ years to recover.

we will do it again with global warming.
while they think we in the US are doing nothing we are the leader in global warming industry.

en.wikipedia.org...
www.ge-energy.com...

About the time the Chinese recover the US will put a carbon TAX on Chinese products because they still will be the largest CO2 producer.

Between wind solar and nuclear power we will have cleaned up OUR CO2 plus screwed the arabs again long before china.
then we can TAX them.

This was WHY we did not sign Kyoto Protocol
not because we were not going to lower our CO2.

Originally posted by LetsPlayFeedTheGater
It was America that affected them ,
I guess there trying to drop the US dollar now.
look into the companies going bankrupt in USA , you'll be surprised.

Remember the old addage - "If you owe your bank a little money, you have a problem. If you owe your bank a lot of money, they have the problem".

JK

Still can't eat catfish out of Lake Erie. The state epa says not to eat more than one walleye a week, or two yellow gills due to the amount of pcb's in the muck the bottom feeders feed in. Pregnant women are advised no lake fish.

Our testament to the 60's and 70's rape of the environment. Cuyahoga river caught fire three times. The mistake on the lake. But who needs environmental controls. Roll the dice baby and let it ride.

China will be badly affected by the global financial crisis.
Its very obvious country's such as the US Britain etc will fair better than country's like China.
80% of there economy is based on selling us stuff.....

It is the inevitable outcome of disproportionate distribution of the prosperity of an industrialized society. When some can become ridiculously wealthy while others are left to struggle, this creates motivation to abuse the system.

The potential dangers of our current level of technology far outweigh anything which have ever existed before. Large scale civilization must learn to share more equitably, or we will all live in constant fear of one another's cheating and the support systems will collapse around us.

The cheeting is rampant from top to bottom in society with apparently more devistating cheeting occuring at the top.

I have a fair idea what happens when you start poisoning tens of thousands of baby's at a time, or robbing an entire generations savings.

People become dispondant and angry, they feel they have nothing left to loose. Like the farmers in India who are committing suicide by the thousands because of GM crops. They begin to act out against those they hold responsible. As the Indian farmers are beginning to do. What nation can survive such internal strife? What chance does a global economy have when the trust is gone?

reply to post by ANNED

I agree with you 100%. The movers and shakers behind the scenes will screw over China just like they did Japan and China has to keep on proping the us up even to their determent, without a even a wimper because not to would mean the lose of billions of more dollars. Many are predicting doom and gloom for America but I wouldn't be so quick to count them down and out. Like you said given 5 years and it will buisiness as usual. As bad off as the US economy is when I look around the world I see that most are worse or going to be worse off in a very short time. And just look at all the nice toys the American people now have at there disposal for 1/2 the price of goods if they had come from a 1st world country. I feel bad for those who got caught up in the greed and cheap money trap as many will probably lose most of what they have.

reply to post by ANNED


What a refreshing point of view.

Good post. Star.

edit
Does not mean I agree with it.



[edit on 4-11-2008 by whiteraven]

People become dispondant and angry, they feel they have nothing left to loose. Like the farmers in India who are committing suicide by the thousands because of GM crops. They begin to act out against those they hold responsible. As the Indian farmers are beginning to do. What nation can survive such internal strife? What chance does a global economy have when the trust is gone?

reply to post by Cyberbian


Blowback, reap what you sow, call it what you will, it seems we may have a whirlwind coming.

I told a cop one time that he enforces the law but lets Justice die.

He did not like that comment.

Took him a while to figure it out though. lol

www.reuters.com...

SHANGHAI (Reuters) - China's main stock index ended 2.44 percent lower on Thursday as worries about global recession moved to the fore, spurring profit-taking by nervous investors in financial and coal shares that had rallied the previous day.

China, the big machine, is almost out of American gas.

www.rgemonitor.com... alling

For the last few months the first engine of global growth has effectively shut down as the latest batch of macro news from the U.S. are worse than awful: collapsing consumption and consumer confidence, plunging housing, collapsing auto sales, plunging durable goods spending (while supply side indicators such as production, ISM and employment are also free falling). The U.S. is entering its worst consumer recession in decades both supply and demand data look worse than in the severe recessions of 1974-75 and 1980-82. And in due time this tsunami of awful macro news, together with ugly downside surprises to earnings will take another toll on equity valuations that are now temporarily lifted by another bear market sucker’s rally.

Is this some of Rhinehart's buried news?

www.canada.com...

Tensions rise during lame duck period.

In a week when China and Taiwan are marking a historic diplomatic thaw, a B.C. group of Taiwanese-Canadians has come forward to protest the enhanced relationship

Obama must decide the fate of Tiawan!!

www.channelnewsasia.com...

HONG KONG: Under the new Obama administration, there could be some friction between the US and China over financial issues and trade policy, according to some analysts who spoke to Channel NewsAsia.

China then manipulates currency as gesture of kindness to Obama....

In the short-term, analysts say China is likely to allow its currency, the yuan, to appreciate slightly against the US dollar as a gesture of goodwill towards the new US administration.

Who is the USA largest investor/client relationship?

China Number one
Canada Number two