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This is b.s. Our economy doesn't depend on China, it is the other way around
President Trump has spoken
Deregulation + Simplifying corporation tax
If you move your company overseas, we will impose YUGE border tax. So we are going to make America investor friendly again.
My family has a small manufacture selling, exporting made in USA equipments, like generators, air conditioners, bbq equipments. ONLY a fool would believe we have a free trade. We have managed trade.
Trump will help domestic manufactures tremendously. America will be investors friendly again
The whole problem here is that it's a complicated issues and my concern is that Trump doesn't do complicated.
Our standard of living without a doubt depends on China. Without cheap Chinese-manufactured goods, there's no way that many Americans would have maintained a middle-class lifestyle given high housing prices and health care costs during the last couple of decades.
As for manufacturing ... does your family's firm use NO imported components in ANY of its products? That would be highly unusual. How large a price increase in those components could it absorb? If the US imposes tariffs other nations certainly will follow and place retaliatory tariffs on US products. Could your family's firm survive the loss of its export business? Your overseas customers could easily source the types of products you sell elsewhere.
Actually, free trade and the sometimes insane devotion that BOTH parties in recent decades have shown to the free trade mantra IS the problem. "Managed" trade or a more sensible industrial policy like those adopted by other nations like China would have provided some real benefits in the last 30 years. But a trade war? No way.
Right because Trump understands the nuts and bolts of the world economy and how it all fits together. Whereas Obama and his team didn't nor did they even appear to care or have any interest in trying to make it better for American workers.
China can't do a damn thing to the US they need 300+ million Americans with money to keep buying their garbage made in sweat shops.
That hannity article you linked to was opinion.
It is no opinion that incomes in the US rose last year at the fastest rate since WW2.
Your blind faith in an unsuccessful blue blood is concerning. I guess Trump could be considered a success for even getting elected, but he has had a crappy career compared to some of his peers.
Anyway.
No trump supporter will ever be able to tell how great trickledown economics is, because it isn't great. How does cutting the corporate tax rate help the needy and the unskilled?
The whole problem here is that it's a complicated issues and my concern is that Trump doesn't do complicated.
Our standard of living without a doubt depends on China. Without cheap Chinese-manufactured goods, there's no way that many Americans would have maintained a middle-class lifestyle given high housing prices and health care costs during the last couple of decades.
As for manufacturing ... does your family's firm use NO imported components in ANY of its products? That would be highly unusual. How large a price increase in those components could it absorb? If the US imposes tariffs other nations certainly will follow and place retaliatory tariffs on US products. Could your family's firm survive the loss of its export business? Your overseas customers could easily source the types of products you sell elsewhere.
Actually, free trade and the sometimes insane devotion that BOTH parties in recent decades have shown to the free trade mantra IS the problem. "Managed" trade or a more sensible industrial policy like those adopted by other nations like China would have provided some real benefits in the last 30 years. But a trade war? No way.
When and where Trump has said he would start a trade war?
Most of the time these days when you hear people talk about free trade, you are being misled. What they are talking about is not free trade. It's managed trade, and it's important to know the difference.
Genuine free trade would be a situation in which Congress passed a law that simply set a tariff schedule on foreign imports and, beyond that, did nothing. People could buy whatever foreign imports they wanted and in whatever amounts they wanted. In the days of genuine free trade, the only argument was how high to set the tariffs.
Managed trade, on the other hand, is an elaborate negotiation with foreign countries in which deals are cut about tariffs and import quotas. Different deals are cut on different products and services. The North American Free Trade Agreement is an example of managed trade masquerading under a false name.
Have you seen how many chinese sellers sell their junk at 1.99 on ebay with free shipping? I have no problems with that. But i have tremendous problems when post office increases shipping cost every single year and if I ship my art work to New York, I have to pay at least $2.6 first class, so customers can receive it in 4-6 business days. I can never compete with chinese sellers. So I closed down my ebay business a long time ago.
How the hell shipping from california to new york (3 oz item) costs $2.6 first class, shipping the similar item from China to california costs almost nothing? LOL
Our country will be just fine, as jobs are staying here and entrepreneurship is encouraged here even more. Keep in mind that there were plenty of strings attached to that silly TPP plan.
You do realize one of the crucial elements of TPP was to allow the influence of the US to grow in Asia to bring in new trading partners and new trading opportunities. Pulling out only hastens the speed at which China will replace the US and the dominant economic force in the area.
But it will be great b/c a few thousand white HS grads in the Rust Belt will have jobs for a cpl years until the factories shut down b/c 1) nobody can now afford to buy whatever they manufacture and 2) Once all the corporate welfare is suckled up the multi-nationals will skip out to whatever low wage paying nation will take 'em for lowest bid....
You do realize one of the crucial elements of TPP was to allow the influence of the US to grow in Asia to bring in new trading partners and new trading opportunities. Pulling out only hastens the speed at which China will replace the US and the dominant economic force in the area.
But it will be great b/c a few thousand white HS grads in the Rust Belt will have jobs for a cpl years until the factories shut down b/c 1) nobody can now afford to buy whatever they manufacture and 2) Once all the corporate welfare is suckled up the multi-nationals will skip out to whatever low wage paying nation will take 'em for lowest bid....
I agree with the bold.
However, Whether or not limiting the increasing power of China is a good thing is another matter, but TPP might seek to do this at the cost of outsourcing of more US jobs . You have to start somewhere.
Plus, Trade deals like the TPP have become a very sneaky way for big corporations and their lobbyists to violate a government's democratic process and steal power from citizens who never got the chance to consent to the changes in the first place. Legislative reform is necessary to ensure that trade deals adhere to democratic standards in the member countries first, before they are ever adopted.
I would agree it is mutual dependence. I am saying our economy does not depend on China for survival. Same thing cannot be said about China.
Plus, Trump never said there would be a trade war. He always emphasis on the art of the deal. We DO NOT have free trade, we have managed trade. Managed trade is not free trade.
This said, I also want to say copyrighted material is a widespread problem in China. I can't remember how many times my own artworks have been stolen.
if you are talking about survival, no, China doesn't need the US. The economy can be a lot resilient than you think. Workers can go back to be farmers if there is fewer manufacturing jobs.
It needs the US market for urbanization, but the US is not the only market.
I agree Trump is more about hard negotiation on this, but honstly on what?
Currency? Chinese export is less than 2% of GDP, far from the criteria of being a manipulator. In fact, it is export declined last year. If based on this, Germany or Japan should be considered currency manipulator too. Australia and Singapore as well.
American jobs? it is American companies who decided to outsource. China didn't force anyone to set up plants.
Of course no free trade. I don't think it exists anywhere. The US forbids export of crude oil and many high techologies. It was never so much about free trade.
However, Whether or not limiting the increasing power of China is a good thing is another matter, but TPP might seek to do this at the cost of outsourcing of more US jobs . You have to start somewhere.
but we shouldn't be screwing up our economy fighting to hold on to jobs that will be gone someday soon anyway ....what we should be doing is looking to innovate in new fields like green tech, high tech manufacturing, urban farming given how scare water and meat will be in the future, etc....
The health and future of US doesn't rely on guys walking out of HS onto the shop floor and being guaranteed a job for life. IF that's harsh so be it...it;s reality and screwing up the entire economy to protect it is not my idea of success....not college material- learn a trade- can't outsource that...my buddy the plumber makes more than I do- I wish I could go back in time and learn plumbing/electric instead of going to college...
if you are talking about survival, no, China doesn't need the US. The economy can be a lot resilient than you think. Workers can go back to be farmers if there is fewer manufacturing jobs.
It needs the US market for urbanization, but the US is not the only market.
I agree Trump is more about hard negotiation on this, but honstly on what?
Currency? Chinese export is less than 2% of GDP, far from the criteria of being a manipulator. In fact, it is export declined last year. If based on this, Germany or Japan should be considered currency manipulator too. Australia and Singapore as well.
American jobs? it is American companies who decided to outsource. China didn't force anyone to set up plants.
Of course no free trade. I don't think it exists anywhere. The US forbids export of crude oil and many high techologies. It was never so much about free trade.
well, if there is no free trade, then the deal should be renegotiated. Nothing wrong with that.
Why so defensive?
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