China threatens currency war
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  1. #1
    JimBianchi
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    Default China threatens currency war

    This is a fight their new, emerging economy can not win.

    If it happens, it will hurt us, but kill them, and maybe ultimately destabilize their government.

    That's not a bad thing.

    But I think it's just a bluff because of all the flack their products have been taking recently.

    Here is the link:

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  2. #2
    Senior Member red-rider's Avatar
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    Default Re: China threatens currency war

    I dont know why we do business with them, they are not our friends. Seems "made in China" is on just about everything nowadays.

  3. #3
    Chicago Pro-Gun Activist NGF Addict! bat1159man's Avatar
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    Default Re: China threatens currency war

    Quote Originally Posted by JimBianchi
    This is a fight their new, emerging economy can not win.

    If it happens, it will hurt us, but kill them, and maybe ultimately destabilize their government.

    That's not a bad thing.

    But I think it's just a bluff because of all the flack their products have been taking recently.

    Here is the link:

    [Only registered and activated users can see links. ]
    Quote Originally Posted by red-rider
    I dont know why we do business with them, they are not our friends. Seems "made in China" is on just about everything nowadays.
    IN terms of a currency war, do not make the mistake of underestimating the Chinese. Their greatest fear is "losing face" in any contest even one such as this with worldwide impact. Their government is still communist and the power is held by a select few. In addition, they control the military and will (like NK) make sure that it is taken care of and well supplied. This is their strength and their tool for international bargaining especially in the Pan Asia area. The Politboro members would not suffer only the common people would be impacted. This being said, the common people have done with very little since the time of the emperors. I have seen first hand how little they can subsist on and the people of the US and other developed countries could not easily comprehend this. Finally, I do not believe that any of our "allies" beyond the U.K. and Australia would fully support us and the other nations purchasing Chinese goods would help them through for an extended period.

    As to why we do business with them, see Wal-Mart. Cheaper goods that are in essence "throw-away" products is the basis for their business and it is booming. When was the last time anyone actually had a toaster or VCR repaired?

    The way to fight this is to have their population become more capitalistic. I am seeing that the work force is becoming more used to having consumer goods and wanting more out of life. I compare their economic/social structure to how it was in the U.S. in the early 1900's. At that time, the people here were demanding better lifestyles and we saw the growth of unions. This change in America may not be mirrored in China but as their people prosper and desire better lives then the government will have to change to meet their needs or be changed by other actions byt the Chinese people.

    Sorry about the soap box here but this topic is very important as I see first hand more manufacturing leaving the U.S. for China/India/VietNam and other Asian countries.
    "On Iwo Island, Uncommon Valor was a Common Virtue" - Admiral Nimitz, March 16, 1945 on Marines fighting on Iwo Jima

    Every Marine is, first and foremost, a rifleman. All other conditions are secondary.
    Gen. A. M. Gray, USMC Commandant of the Marine Corps

    "There are more instances of the abridgment of the freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations."
    James Madison

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  5. #4
    eXXit
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    Default Re: China threatens currency war

    Quote Originally Posted by bat1159man
    Quote Originally Posted by JimBianchi
    This is a fight their new, emerging economy can not win.

    If it happens, it will hurt us, but kill them, and maybe ultimately destabilize their government.

    That's not a bad thing.

    But I think it's just a bluff because of all the flack their products have been taking recently.

    Here is the link:

    [Only registered and activated users can see links. ]
    Quote Originally Posted by red-rider
    I dont know why we do business with them, they are not our friends. Seems "made in China" is on just about everything nowadays.
    IN terms of a currency war, do not make the mistake of underestimating the Chinese. Their greatest fear is "losing face" in any contest even one such as this with worldwide impact. Their government is still communist and the power is held by a select few. In addition, they control the military and will (like NK) make sure that it is taken care of and well supplied. This is their strength and their tool for international bargaining especially in the Pan Asia area. The Politboro members would not suffer only the common people would be impacted. This being said, the common people have done with very little since the time of the emperors. I have seen first hand how little they can subsist on and the people of the US and other developed countries could not easily comprehend this. Finally, I do not believe that any of our "allies" beyond the U.K. and Australia would fully support us and the other nations purchasing Chinese goods would help them through for an extended period.

    As to why we do business with them, see Wal-Mart. Cheaper goods that are in essence "throw-away" products is the basis for their business and it is booming. When was the last time anyone actually had a toaster or VCR repaired?

    The way to fight this is to have their population become more capitalistic. I am seeing that the work force is becoming more used to having consumer goods and wanting more out of life. I compare their economic/social structure to how it was in the U.S. in the early 1900's. At that time, the people here were demanding better lifestyles and we saw the growth of unions. This change in America may not be mirrored in China but as their people prosper and desire better lives then the government will have to change to meet their needs or be changed by other actions byt the Chinese people.

    Sorry about the soap box here but this topic is very important as I see first hand more manufacturing leaving the U.S. for China/India/VietNam and other Asian countries.
    Wise beyond ur years Batt ;)

  6. #5
    Iron Maiden NGF Addict! SheNine's Avatar
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    Default Re: China threatens currency war

    Quote Originally Posted by bat1159man
    ....... Their government is still communist and the power is held by a select few.

    This is my question: We were fighting communism for so long. We're sanctioning Cuba because of communism, but we'll make an exception for China because it suits us financially?!?!?
    Of course I'm out of my mind! It's dark and scary in there.... Hidden Content

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  7. #6
    JimBianchi
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    Default Re: China threatens currency war

    SheNine,

    In a word, yes.

  8. #7
    Chicago Pro-Gun Activist NGF Addict! bat1159man's Avatar
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    Default Re: China threatens currency war

    Quote Originally Posted by JimBianchi
    SheNine,

    In a word, yes.
    +1 Jim - you have hit the nail squarely on the head. Problem is that the hammer is now being held by the Chinese who would love to see us stumble.
    "On Iwo Island, Uncommon Valor was a Common Virtue" - Admiral Nimitz, March 16, 1945 on Marines fighting on Iwo Jima

    Every Marine is, first and foremost, a rifleman. All other conditions are secondary.
    Gen. A. M. Gray, USMC Commandant of the Marine Corps

    "There are more instances of the abridgment of the freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations."
    James Madison

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