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China is now threatening the US with trade war if we decide to go ahead with trade policies in our own interest.
Perhaps a trade war with China is inevitable given the circumstances.
It is clear that China's growth and prosperity have come at the expense of US workers and jobs.
If politicians expect to be elected, they will have to, at some point, begin to do what is good for America, and that will no doubt anger the Chinese.
What will be the ramifications of this strained relationship going forward?
Basically we can not win a trade war.They al;ready hold alot of our treasuries and can just call them and wuite their part of outr fiancing our debt.
So basically you think that China allowing their currency to rise, which is the result of not converting to treasuries, is all going to come out rosy in China? That is their primary tool to keep their policy of merchantilism.
I find it strange that people keep suggesting that we stop buying from China before they stop selling to us. Its the same thing only a different flavor of unilateral decision.
Rhetorically speaking, why do we need trade policies to make an impact? The citizens of the United States should focus on our own economy and realize that by purchasing massive amounts of inferior/cheaply made products from china it would eventually affect similarly competing companies with MANUFACTURING plants in the United States. Stop buying a product just because it's cheaper and support the local economy. The blame lies on the US Citizens.
Basically we can not win a trade war.They al;ready hold alot of our treasuries and can just call them and wuite their part of outr fiancing our debt.
And we can just inflate our money and say have at it...this is exactly what Germany did after WW1. This would destroy us both in the process...therefore it is in China's best interest not to fight over this, given our penchant for printing money and Ben Bernanke needing just any excuse to print trust me he will throw the presses into high gear!
Our currency is somewhat protected by the fact that it is the world's reserve currency and there are at the moment absolutely no feasible alternative replacements. The Euro is in a bigger mess than the dollar (only optimistic speculation is holding it's value right now) and nobody in their right mind is going to make the Remimbi the reserve currency given the fact that it is controlled by a communist power.
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