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People should not be mad at global trade, they should be mad at the inequality in the distribution of wealth in this country (allowing corporations and top percentile to keep all the profits). In addition to all the money spent on wars and military instead of investing in Americans and infrastructure.
People should be mad at global trade because it is lowering the standard of living around the world. Global trade sounds great until your job is outsourced. The people that don't give a damn are the ones that won't be affected.
This is not caused by Chinese investment in American assets like the Waldorf Astoria.
They wouldn't have such funds to invest in the first place if Americans weren't so obsessed with getting cheap goods. You don't think they've amassed some of those funds from American jobs being outsourced? If you don't, I've got a bridge to sell you. There was no middle class in China before. Now you look at China and they're created a middle class and quite a few extremely wealthy billionaires and they're the second largest economy in the world if you look at GDP. They've also benefited from currency manipulation for quite some time. Now of course I'm not saying that low wage American jobs that were outsourced there made Chinese folks rich overnight. However, those who were in a position to benefit from such outsourcing did, such as owners of factories where tons of goods can be made that previously were made in the US. Aside from that, the Chinese have been buying our debt for years now. All of these things along with China's extremely relaxed regulations have led to what we have now... A lot of this is really due to the Chinese government as well, who has been reinvesting in Chinese companies that they want to protect, so yes the Chinese have plenty of money to spend and invest.
People should be mad at global trade because it is lowering the standard of living around the world.
The majority of countries living standards after WW2 was terrible, to argue otherwise is just dumb. global trade has helped eliminated extreme poverty across the world. U.S. Companies have gotten rich selling their goods across the world.
Quote:
Originally Posted by pierrepont7731
Global trade sounds great until your job is outsourced.
Maybe you should direct your anger at the government for telling you to pull yourself by your bootstrap instead of spending money to retrain you for future employment opportunities. The government should have demanded corporations pay more to aid in your retraining and becoming a productive member of our society.
They wouldn't have such funds to invest in the first place if Americans weren't so obsessed with getting cheap goods. You don't think they've amassed some of those funds from American jobs being outsourced? If you don't, I've got a bridge to sell you. There was no middle class in China before. Now you look at China and they're created a middle class and quite a few extremely wealthy billionaires and they're the second largest economy in the world if you look at GDP. They've also benefited from currency manipulation for quite some time. Now of course I'm not saying that low wage American jobs that were outsourced there made Chinese folks rich overnight. However, those who were in a position to benefit from such outsourcing did, such as owners of factories where tons of goods can be made that previously were made in the US. Aside from that, the Chinese have been buying our debt for years now. All of these things along with China's extremely relaxed regulations have led to what we have now...
None of what you stated (assuming it were true) is caused by Chinese investing in American assets. If you are against outsourcing American jobs, importing cheap goods, so be it. But buying the Waldorf Astoria did not lead to any of these activities - hence, no reason to object to this transaction. If Chinese buyers sealed the deal, then it means they probably offered the best price or payment terms. This is great for the sellers, for the government tax coffers, and for the dollar. It beats having to sell Waldorf Astoria at less attractive terms, which is what happens when you have fewer buyers.
The majority of countries living standards after WW2 was terrible, to argue otherwise is just dumb. global trade has helped eliminated extreme poverty across the world. U.S. Companies have gotten rich selling their goods across the world.
Maybe you should direct your anger at the government for telling you to pull yourself by your bootstrap instead of spending money to retrain you for future employment opportunities. The government should have demanded corporations pay more to aid in your retraining and becoming a productive member of our society.
I guess I should've been clearer. The West's (Western Europe and the U.S.) standard of living is being lowered, at the expense of global trade. Look at the mess in Finland. A Western country where a large portion of its citizens can't find work and are becoming increasingly dependent upon "gubment" to live month to month. At the end of the day, the major players in the global scene will continue to be the EU, the UK (I'm putting them separate since they never adopted the euro and voted to leave the EU) and the U.S.
Oh and I never lost my job, so I don't need to be retrained . I'm just not that blind to see how global trade is screwing over the average American.
You're right about multinationals though. They are getting rich at the expense of everyone else that's too stupid to see what's going on. Such deals as NAFTA were supposed to benefit everyone. Yeah, the guy in Mexico supposedly sees his standard of living improve. The same of the U.S. worker and whatever other country you want to throw in there and everything is just great, but in reality, it doesn't work that way. The one benefiting is the multinational company, which gets to exploit everyone and laugh going to the bank with the record profits year after year. I suppose you could include the shareholders as well.
None of what you stated (assuming it were true) is caused by Chinese investing in American assets. If you are against outsourcing American jobs, importing cheap goods, so be it. But buying the Waldorf Astoria did not lead to any of these activities - hence, no reason to object to this transaction. If Chinese buyers sealed the deal, then it means they probably offered the best price or payment terms. This is great for the sellers, for the government tax coffers, and for the dollar. It beats having to sell Waldorf Astoria at less attractive terms, which is what happens when you have fewer buyers.
Don't be foolish. No one ever said or even suggested that buying the Waldorf Astoria led to the aforementioned activities. Nevertheless, the Chinese didn't just get this money out of the sky, and they weren't always this wealthy. They're able to invest in part because of decisions that our government has made over the years going back to the Clinton years and even before then where our "gubment" sold us out. Bill and Hillary LOVED things such as NAFTA (Hillary claims she's against it now ), but yeah, all of these lovely trade deals have certainly helped in all of these wealthy Chinese folks coming over now to buy up iconic American buildings.
Quote:
Originally Posted by Forest_Hills_Daddy
None of what you stated (assuming it were true) is caused by Chinese investing in American assets. If you are against outsourcing American jobs, importing cheap goods, so be it. But buying the Waldorf Astoria did not lead to any of these activities - hence, no reason to object to this transaction. If Chinese buyers sealed the deal, then it means they probably offered the best price or payment terms. This is great for the sellers, for the government tax coffers, and for the dollar. It beats having to sell Waldorf Astoria at less attractive terms, which is what happens when you have fewer buyers.
Oh please. Having a strong dollar long term hurts America and you know that. It means that American goods are more expensive and less attractive overseas. In any event, from an economic standpoint you can say that it's great all you want to, but it stinks as far as I'm concerned. They already have us by the balls by owning so much of our debt, and now they come strolling over here buying up American buildings. I don't see anything great about an American building on one of the most prestigious avenues being in Chinese hands, with Chinese flags blowing in the wind. I work near that building too, and it disgusts me to see such a sight.
Don't be foolish. No one ever said or even suggested that buying the Waldorf Astoria led to the aforementioned activities. Nevertheless, the Chinese didn't just get this money out of the sky, and they weren't always this wealthy. They're able to invest in part because of decisions that our government has made over the years going back to the Clinton years and even before then where our "gubment" sold us out. Bill and Hillary LOVED NAFTA (Hillary claims she's against it now ), but yeah, all of these lovely trade deals have certainly helped in all of these wealthy Chinese folks coming over now to buy up iconic American buildings.
You're the one being foolish, by objecting to Chinese buying of US assets. It's better that they bought it for $1.95bn then someone else buying it for $1bn. Fine if you want to rant about NAFTA. But that is another topic.
None of what you stated (assuming it were true) is caused by Chinese investing in American assets. If you are against outsourcing American jobs, importing cheap goods, so be it. But buying the Waldorf Astoria did not lead to any of these activities - hence, no reason to object to this transaction. If Chinese buyers sealed the deal, then it means they probably offered the best price or payment terms. This is great for the sellers, for the government tax coffers, and for the dollar. It beats having to sell Waldorf Astoria at less attractive terms, which is what happens when you have fewer buyers.
You don't have a good understanding of what is happening. The Chinese buying the Waldorf is an effect, not a cause.
You don't have a good understanding of what is happening. The Chinese buying the Waldorf is an effect, not a cause.
Yes somebody gets it. It's also extremely symbolic that they're now buying up expensive real estate in some of the most expensive parts of America. That should raise some red flags (no pun intended).
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. I'm just not that blind to see how global trade is screwing over the average American. 
