U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [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)
 
Old 06-20-2008, 02:01 PM
 
Location: Sitting on a bar stool. Guinness in hand.
4,429 posts, read 5,807,967 times
Reputation: 1708

Advertisements

US steel industry wins trade case against China - Yahoo! News (broken link)

I don't follow the steel industry that much so I'm not sure how much this case counts for U.S. manufacturing. Looking for opinions.
Reply With Quote Quick reply to this message

 
Old 06-23-2008, 02:42 PM
 
3,283 posts, read 4,757,208 times
Reputation: 753
Quote:
Originally Posted by baystater View Post
US steel industry wins trade case against China - Yahoo! News (broken link)

I don't follow the steel industry that much so I'm not sure how much this case counts for U.S. manufacturing. Looking for opinions.

the chinese subsidize everything one way or another. most of their subsidizing comes in the form of artificially devaluing their own currency. imo it is the responsibility of everyone to boycott their products and start buying locally. when people buy locally they keep their community employed and this goes a long way to ensuring that less of your tax dollars go into welfare for the unemployed. it also goes some way to address our widening trade deficit and lessens the debt burden we place on future generations.
Reply With Quote Quick reply to this message
 
Old 06-23-2008, 04:01 PM
 
Location: Chino, CA
1,458 posts, read 3,006,916 times
Reputation: 553
From textbook economic books, Free Trade is good. But if the markets are actually Fair. With price fixing (essentially what subsidies do) then markets are skewed... at the end though... according to Textbooks, price fixing fails, and prices go back to market equilibrium. So, eventually their prices will go up to reflect some sort of equilibrium price.

Just as a side note... have anybody noticed that the rapid rise of China in the last 8 years coincides with China's entrance into the WTO?

Also this article was interesting...on February 2000 from Economic Policy Institute:
The High Cost of the China-WTO Deal: Administration's own analysis suggests spiraling deficits, job losses

Conclusion:
"The U.S. government's most comprehensive assessment of the costs and benefits of the China-WTO deal shows that the U.S. trade deficit with China would continue to increase for the foreseeable future, even under unrealistically optimistic assumptions. Even so, supporters still ask us to believe that the benefits from the agreement will be great, and that they will exceed its costs "in the short term." The available economic analyses and the recent experience of the United States with NAFTA strongly suggest the China-WTO agreement is a bad deal for the U.S. and its workers."

We all know what has ended up happening in the last 8 years. It's nice how charts and graphs work in Economic Text Books... sadly, in real life things take years to play out... and the consequences are dramatic.

-chuck22b

Last edited by chuck22b; 06-23-2008 at 04:10 PM..
Reply With Quote Quick reply to this message
 
Old 06-23-2008, 08:46 PM
 
48,509 posts, read 86,173,019 times
Reputation: 18105
China even subsidses the price of gasoline. I think they have agreed to drop that this week tho.We have subsidised farmers for years and many food producers.
Reply With Quote Quick reply to this message
 
Old 06-23-2008, 10:43 PM
Status: "The 2nd most Interesting Man" (set 10 days ago)
 
Location: DFW - Coppell / Las Colinas
35,471 posts, read 38,875,114 times
Reputation: 42431
Quote:
Originally Posted by texdav View Post
China even subsides the price of gasoline. I think they have agreed to drop that this week tho.We have subsidized farmers for years and many food producers.
Kind of like the US subsidizes Ethanol and the food crops grown here in the states ?
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 > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 06:59 PM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - 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 - Top