China is not making happy faces at the US Senate these days. Monday, Senators voted 79-19 to debate a new bill that would smack Chinese currency manipulation with steep new tariffs. Chinese spokesman, Ma Zhaoxu, immediately pouted that any action against their products would violate World Trade Organization rules and obstruct China-US trade ties. Nice try Ma, but it's time to pay the piper! China has been stealing our jobs and markets for too long, now the tide is turning - well... maybe!
Who can blame China for wanting to maintain this crazy good trade deal? It is never easy to knock off leeches once firmly attached! A $273 billion trade surplus - up from $83 billion just ten years ago - is worth a few grumbled threats about trade wars. The Chinese 'renminbi' (who knew?) is currently fixed at about 6.4 to the dollar - at least 25% cheaper than its actual value. This not only makes US imports more expensive, it also makes cheap Chinese crap even cheaper. Given this unbalanced trade balance, is a trade war really such a bad idea? It would be nice to think that we can just run the Chinese trade train off the cliff, but Old Ma does seem to have a point. What would we do if they forced us to quit Chinese cheap cold turkey? It would be rather gruesome to see everyone running around naked - to say nothing of the impending Toyaggedon! Can you imagine our children forced to play with real wooden blocks and their parents trying to tweet with an abacus!
Still, it is tempting to tack on a nice 1000% tariff and knock China completely out of the market. Wouldn't it be refreshing to go to the store and actually find something made in the USA. I even get nostalgic on the the rare occasion I find a TV still made in Japan. Unfortunately, bashing China is not entirely practical. Walmart, as we know it, would cease to exist - putting over 2 million people out of work. Even worse, many of these new unemployed would be 'greeters', workers who would be forced to run for congress - the only other job for which they are qualified.
I should have guessed there was no simple solution. It seems we are now addicted to cheap Chinese products and pay for our addiction by exporting jobs. If we continue down this road we will soon not have even enough 'renminbi' left to buy even he cheap Chinese junk that feeds our consumer addiction. Still, if we go the other route and bash our pusher-in-chief, we will soon go crazy broke buying Indian saris and Swedish computers. A tricky problem, for sure!
Not to worry! As usual, it seems nothing positive is happening in Washington. The House Republicans have already decided not to take up the senate's lead and even Obama is hedging his bets. Sound familiar? Boehner and Obama want a more comprehensive trade deal with China and look at currency manipulation as just 'one part of the problem' - Washington code for 'don't rock the boat'. Such all or nothing tactics may be the current flavor of the day - but right now they just giving keep China laughing all the way to the bank. Maybe we should let The Donald negotiate with Beijing!
Showing posts with label China. Show all posts
Showing posts with label China. Show all posts
Tuesday, October 4, 2011
Wednesday, September 28, 2011
Nice Guy Blues
Do you ever get tired of always being the nice guy?
Last week, Iran's Ahmadinejad went to the UN and told the world that 9/11 and the holocaust were just western propaganda - meanwhile the American Islamic community opened a new center right near ground zero in Manhattan. What is wrong with this picture? Can we now open a Hooter's in Tehran?
Nut Job is also threatening to execute a Christian pastor in Iran who won't deny his faith and churches in China are closing faster than brothels in the Vatican. The people in a small Tennessee town also want to prevent a new Mega-Mosque on the corner, but most of the media - except maybe Fox- has already decided they are prejudiced and hateful rednecks? Nut Job's neck must be turning royal purple!
You don't even have to go the Middle East or China to get laughed at these days. Millions of illegals from Central America are in the US. We cry about their rights on a daily basis, but when we occasionally deport a few - just paint us cruel and unjust! I lived in that part of the world for many years. Believe me - let your visa expire and get caught in a police road block (or just try to fly home!) and you go directly to jail! Even worse, there is no free flight and if you care to eat, your friends better bring your MacDonald's to the cell. Only when you or yours finally pay your return freight will you finally get deported. Still, at least they don't ask for a million in 'bail' like Iran!
Another one that always mystifies me. When western women travel to most countries in Asia or Africa they are expected to dress 'modestly' to avoid offending the locals. I hate to agree with the French (who banned burkas on security grounds), but I find burkas rather ominous and threatening. Who knows what lies in those hidden folds - perhaps we should make their women all wear bikinis so we know they aren't toting any bombs?
Amnesty International will also tell you that half the world tortures and imprisons people on a regular basis - yet we go through 'loop de loops' trying to justify a little water boarding to catch the people responsible for 9/11. What would the Saudi's do to me if I blew up Mecca - or the Chinese if I took out Beijing? I suspect that water boarding would not even be on the play list!
This list could go on and on, but I really am not suggesting that we should wallow in the mire and do unto others before they do unto us . However, a little creative role playing sure would be fun! It would almost be worth electing Michelle Bachmann if she would just walk into the UN and claim that the Koran is satanic! She would also likely go along with billing the Central American countries for repatriating their nationals, ban oriental 'occultism', and force the Saudi's to let their women drive. Last week she even suggested that idiots like Chavez and Ahmadinejad should not be allowed to enter the US to spout off at the UN!.
The only problem is she wouldn't be role playing. And who knows what else she might ban? Guess that might kind of ruin the fun of a little righteous payback.
Last week, Iran's Ahmadinejad went to the UN and told the world that 9/11 and the holocaust were just western propaganda - meanwhile the American Islamic community opened a new center right near ground zero in Manhattan. What is wrong with this picture? Can we now open a Hooter's in Tehran?
Nut Job is also threatening to execute a Christian pastor in Iran who won't deny his faith and churches in China are closing faster than brothels in the Vatican. The people in a small Tennessee town also want to prevent a new Mega-Mosque on the corner, but most of the media - except maybe Fox- has already decided they are prejudiced and hateful rednecks? Nut Job's neck must be turning royal purple!
You don't even have to go the Middle East or China to get laughed at these days. Millions of illegals from Central America are in the US. We cry about their rights on a daily basis, but when we occasionally deport a few - just paint us cruel and unjust! I lived in that part of the world for many years. Believe me - let your visa expire and get caught in a police road block (or just try to fly home!) and you go directly to jail! Even worse, there is no free flight and if you care to eat, your friends better bring your MacDonald's to the cell. Only when you or yours finally pay your return freight will you finally get deported. Still, at least they don't ask for a million in 'bail' like Iran!
Another one that always mystifies me. When western women travel to most countries in Asia or Africa they are expected to dress 'modestly' to avoid offending the locals. I hate to agree with the French (who banned burkas on security grounds), but I find burkas rather ominous and threatening. Who knows what lies in those hidden folds - perhaps we should make their women all wear bikinis so we know they aren't toting any bombs?
Amnesty International will also tell you that half the world tortures and imprisons people on a regular basis - yet we go through 'loop de loops' trying to justify a little water boarding to catch the people responsible for 9/11. What would the Saudi's do to me if I blew up Mecca - or the Chinese if I took out Beijing? I suspect that water boarding would not even be on the play list!
This list could go on and on, but I really am not suggesting that we should wallow in the mire and do unto others before they do unto us . However, a little creative role playing sure would be fun! It would almost be worth electing Michelle Bachmann if she would just walk into the UN and claim that the Koran is satanic! She would also likely go along with billing the Central American countries for repatriating their nationals, ban oriental 'occultism', and force the Saudi's to let their women drive. Last week she even suggested that idiots like Chavez and Ahmadinejad should not be allowed to enter the US to spout off at the UN!.
The only problem is she wouldn't be role playing. And who knows what else she might ban? Guess that might kind of ruin the fun of a little righteous payback.
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