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I have just one simple question for anyone who is up to educating an ignorant-of-the-facts individual. Now, call me stupid { this is P&OC, so I'm sure it's forthcoming with or without my blessing } but how exactly is China "cheating"???? Is it just because they are beating the US and so we call them "cheaters"???? Or are they actually doing something that is considered cheating?
Have not studied it in detail. Artificially maintaining a lower currency value than the market would dictate is the most common complaint I hear. Their "cheating" actually helps the American consumer.
Have not studied it in detail. Artificially maintaining a lower currency value than the market would dictate is the most common complaint I hear. Their "cheating" actually helps the American consumer.
If that's the cheating we mean (currency manipulation is what Romney means), it's a double-edged sword. While we do see the (massive) benefit of cheaper goods, they can't afford to buy as much of our stuff as if they were wealthier.
Have not studied it in detail. Artificially maintaining a lower currency value than the market would dictate is the most common complaint I hear. Their "cheating" actually helps the American consumer.
Their "cheating" actually hurts the American producer and gives them a trade advantage. An artificially cheaper Chinese Yuan means that Chinese goods become relatively inexpensive to American goods, therefore helping their economy and hurting ours.
In solar China has stolen the American technology, then produced inferior copies which underperform but are cheaper. This causes hardship to the US firms as it makes them look expensive on the surface.
btw - they don't buy the rights to the technology they just reverse engineer it.
They cheat in other ways also The government looks the other way as billions of knock offs of trademarked goods are produced. They do not respect patents and steal intellectual property all the time. They are deeply involved in industrial espionage and just overall they don't play by the rules.
An interesting aside is that here on this board you often hear the GOPers complaining about the value of the USD and how liberal policy is hurting that value. Well, the Chinese do everything that is possible in their power to hold the USD as high as possible. It's to their advantage in different ways to do so. First of all they hold so much USD that any drop in the value hurts them big time. It also keeps their currency low relative to the USD by keeping the USD as high as possible.
So all of you GOPers that are upset at the thought of the USD losing value, China is your very best friend.
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