China Currency Bill Passes US Senate

[ChineseTiger1986]

Now they are playing the blame game, if Obama signs it, then it gonna mess up the already fragile economy.

If he refuses, then he gonna potentially piss off a lot of his base supporters.

Same for GOP.

UPDATE 2-Senior Republican presses Obama on China yuan bill | Reuters

 

[cyphercide]

Too little,too late.Almost all of the money churning American enterprises depend on Chinese exports to retain it's competitive edge.I would go as far as saying without Chinese exports,the functioning of some of these corporate entities would be suspect.Also as some of you already pointed out,the Currency Bill might not even see the light of day as Republicans hold the key for it to pass as law and by the looks of it,they ain't so keen about it.Interesting turn of events nonetheless.

 

[T-Rex]

If I had to pick one or the other than it would be the US feeding China, seeing as the US grows more food than it can consume and thud is the leading exporter of food. This 'China paying US gov employees' stuff is grade F madcow bulls**t

Tell me where does uncle sam get the funds to wage wars against weak nations? Your politicians are constantly saying that the US government is neck-deep in debt, now, what does that mean? Clearly you have no clue how the US economy or the government is being run and I'm not surprised because most of the americans like you are high school dropouts.

 

[ChineseTiger1986]

If I had to pick one or the other than it would be the US feeding China, seeing as the US grows more food than it can consume and thud is the leading exporter of food. This 'China paying US gov employees' stuff is grade F madcow bulls**t

You know, your export market now consists less than 1/4 of our total export. Even this bill is passed, the worst consequence for us is to lose about 20% of our total export, which we have already experienced during the global financial crisis back in 2008-2009.

https://www.uschina.org/statistics/tradetable.html

It gonna hurt us a bit, but it is certainly not going to kill us. Funny how your countrymen all gonna expect China to collapse after this bill is passed. And let me tell you the truth, you people gonna hurt more after this bill is passed. You sure gonna experience the hyperinflation and the price of the goods reaching to an unaffordable level.

Your politicians only want to get more votes, and they don't really give a fck about your people.

So they just fool you like brainwashing sheep into believing that this bill really gonna help you.

 

[somebozo]

America despite it massive industrial might is cripping economically not because of China but because of its policies. Iraq and Afghan war has back fired, there is a massive hate against USA and it is unable to market its contractors and exporters. Take a small example of KSA, every contract and projects are going towards Asian and European providers. The share of American contractors and industrials is constantly shrinking except in circumstances where they cannot be replaced by Asian or Europeans.

The US-Chinese trade is highly imbalanced in Chinese favor because USA is under self inflicted embargo against the Chinese. They want them to buy their crappy GMC and Ford SUV while the Chinese wants stake in Boeing, Intel, IBM, etc etc. The sooner this embargo is lifted and the American realize Chinese as their friends with respect, the soon american economy and jobs will recover.

 

[Alchemy]

The bill is a boon for India !

 

[ChineseTiger1986]

The bill is a boon for India !

This bill is a bomb for everyone.

 

[rcrmj]

No, American companies can simply flee China to go to Vietnam or India.

Having said that, the real trade war won't begin until 2013, until Obama wins re-election.

thats your korean dream senario, Vietnam and India simply doesnt have the skilled labour force, infrastructure, complete supply chain and technology readiness to do that````besides their labour cost is like 1/3 and 1/4 of China, if american companies not moving in that past, present and certainly not in near future`

 

[ChineseTiger1986]

thats your korean dream senario, Vietnam and India simply doesnt have the skilled labour force, infrastructure, complete supply chain and technology readiness to do that````besides their labour cost is like 1/3 and 1/4 of China, if american companies not moving in that past, present and certainly not in near future`

If the iPad is producing in India or Vietnam, then people should expect its price goes up and quality goes down.

Since the industrial capability of India and Vietnam is extremely weak compared to China and its transportation infrastructure is so bad, so expecting the cost is higher even their wages are much lower.

 

[sachin@india]

Protectionist measure by US.

Export from china will become dearer. Multinationals will switch to some other low cost options. Great opportunities for other developing nations.

 

[ChineseTiger1986]

Protectionist measure by US.

Export from china will become dearer. Multinationals will switch to some other low cost options. Great opportunities for other developing nations.

The problem is that US corporations can't find any nation to take the place of China for now.

Let me tell you, the big corporations like Walmart have no love for China, even their CEO stated before if there are any nation that could produce the goods that has the quality and the cost comparable to China, then they gonna immediately move over.

But guess what? Now still 80% of their goods come from China, because China is not only about the cheap labor, but more about the infrastructure.

India and Vietnam both have cheaper labor than China, then why they just don't move their business over there?

 

[sachin@india]

The problem is that US corporations can't find any nation to take the place of China for now.

Let me tell you, the big corporations like Walmart have no love for China, even their CEO stated before if there are any nation that could produce the goods that has the quality and the cost comparable to China, then they gonna immediately move over.

But guess what? Now still 80% of their goods come from China, because China is not only about the cheap labor, but more about the infrastructure.

India and Vietnam both have cheaper labor than China, then why they just don't move their business over there?

This is what we called a process.

When you forsee the opportunities you develop capabilities to deal with it in future. China did it by rapid reforms in Past 3 decades that is why you reaping the benefits today.

Other countries need to see the opportunities in the future. It is not like that US passes the bill all the manufacturing units in china will shut down in a year or two but the comapnies will look out surely look out to hedge the risk. This is the opportunity for other developing nation to invest in infra for next 5-10 years. It is a gradual process like you went through.

India do not have capabilities right out to meet the demand of that level but we are going to invest some 1.5 tr USD in next 8-10 years by taking that in perspective. In next 10 years world would be different.

 

[ChineseTiger1986]

This is what we called a process.

When you forsee the opportunities you develop capabilities to deal with it in future. China did it by rapid reforms in Past 3 decades that is why you reaping the benefits today.

Other countries need to see the opportunities in the future. It is not like that US passes the bill all the manufacturing units in china will shut down in a year or two but the comapnies will look out surely look out to hedge the risk. This is the opportunity for other developing nation to invest in infra for next 5-10 years. It is a gradual process like you went through.

India do not have capabilities right out to meet the demand of that level but we are going to invest some 1.5 tr USD in next 8-10 years by taking that in perspective. In next 10 years world would be different.

This bill does not make the process going smoothly, and even a job protectionist like Obama is worried about it.

 

[sachin@india]

This bill does not make the process going smoothly, and even a job protectionist like Obama is worried about it.

I was not talking about the process.. i was talking about the opportunites for other developing nation. which is a process in itself.

 

[HongWu]

This is great news! A trade war will mean hyperinflation for the US. Look at how unstable the US is right now. If there is hyperinflation it's civil war -- the US military branches may have to choose sides between Red state and Blue states. Suppose US army goes with the Red states and US marines goes with the Blue states and fight it out in US homeland...

Yes, China will be hurt economically, but strategically it gains massively because US will be completely incapacitated from any meddling in Asian affairs. In fact, once China knocks out its evil neighbors one-by-one after the US is incapacitated, China can start selling arms to US factions it supports, create a puppet government in the Americas and eventually land PLA and colonize to spread out our 1.3 billion people.

Much of China's currency reserves come from exporting labor-intensive goods. Even if this evaporates in hyperinflation, it's money well spent.