U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-05-2011, 04:20 PM
 
12,196 posts, read 11,483,141 times
Reputation: 4895

Advertisements

Insight: What a stronger Chinese yuan means for the U.S. | Reuters


He estimates that a 20 percent rise in the yuan would reduce the U.S. current account deficit by $50 billion to $100 billion. A more extreme move, say 40 percent, would translate into as much as a $200 billion reduction.

The United States gains about 6,000 jobs for every $1 billion improvement in the trade balance, so $100 billion would work out to 600,000 jobs, he said. That is more than the anemic U.S. economy has generated in the past six months combined, and would be enough to shave about four-tenths of a point off the 9.1 percent jobless rate.

Bergsten's view is not universally shared.

Some economists argue that a stronger yuan would simply shift manufacturing to other low-cost producers such as Bangladesh or Vietnam, and the United States would still be uncompetitive.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 10-07-2011, 09:58 AM
 
12,196 posts, read 11,483,141 times
Reputation: 4895
What is your opinion? Anyone here smart enough to comment. I am not really very well read on the subject.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 10:15 AM
 
3,457 posts, read 3,287,479 times
Reputation: 1532
I think this currency law we are trying to pass is ridiculous.

China manipulates the yuan, sure. the US also manipulates the dollar, the EU manipulates the Euro, the Danes manipulate the kroner....

Raising tarrifs won't create jobs, although it might slow down the rate of offshoring, while raising the price we have to pay for imported Chinese goods.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 10:32 AM
 
Location: Dallas, TX
31,765 posts, read 26,266,444 times
Reputation: 12287
I don't agree with tarriffs. I agree with tax rates on businesses designed around welfare of the nation that helps the economy grow here.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 11:12 AM
 
12,196 posts, read 11,483,141 times
Reputation: 4895
Some movement on the subject.
Democrats Invoke ‘Nuclear Option’ in Senate - ABC News
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 11:28 AM
 
48,508 posts, read 88,491,113 times
Reputation: 18187
The nuclear option doesn't really work unless you control both houses and the presidency. Its just feeding the maddening crowd, Remember Reid is the one always saying voting on something that has no chance is foolish and a waste of time.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 11:52 AM
 
12,196 posts, read 11,483,141 times
Reputation: 4895
Quote:
Originally Posted by texdav View Post
The nuclear option doesn't really work unless you control both houses and the presidency. Its just feeding the maddening crowd, Remember Reid is the one always saying voting on something that has no chance is foolish and a waste of time.
The Nuclear option is not really the purpose of this thread.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 11:56 AM
 
20,194 posts, read 21,520,200 times
Reputation: 9233
This is old news... everyone knows about it... there are already large corporations that have taken the precaution of moving to other SE Asian countries such as Vietnam should the Yuan get higher... so the whole point is moot... as in, it does not translate to more jobs and just shift jobs from China to other Asian countries... in fact, it has already started...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 02:20 PM
 
5,655 posts, read 6,448,023 times
Reputation: 3272
You can't force another country to change their currency policies.That is a direct intervention in a sovereign country affairs. The "geniuses" who signed the trade agreements with China in the past should have though of that.
In America there is a strong felling against "protectionism", but protectionism seems to work wonders for some countries...
And competition between US companies and Chinese is "unfair" on many other accounts. They don't have strict environmental regulations, employment regulations, etc. but our "free trade" advocates do not get that and think you can twist China's arm to comply with our vision. Yes, they are in for a surprise.

Last edited by oberon_1; 10-07-2011 at 02:29 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2011, 02:28 PM
 
3,045 posts, read 2,892,906 times
Reputation: 1306
Quote:
China manipulates the yuan, sure. the US also manipulates the dollar, the EU manipulates the Euro, the Danes manipulate the kroner....
There's a vast difference between trying to make your currency more strong or more weak and pegging your currency to the value of another currency. The Chinese are doing the latter in violation of international law. It's one of the reasons for the massive trade deficit that the United States has. Typically, when currencies float, this imbalance would adjust.

The Chinese are illegally keeping their dollar artificially low in order to gouge wealth from America. There are plenty of companies who benefit from this, but on the aggregate, it is a very bad thing and should have been dealt with a decade ago.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6. The time now is 10:18 AM.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top