China Retaliates Against US as Potential Trade War Erupts
Sept. 14 (Bloomberg) -- China announced a probe into the alleged dumping of American auto and chicken products, two days after U.S. President Barack Obama imposed tariffs on imports of tires from the Asian nation.
Chinese industries have complained that they’re being hurt by “unfair trade practices,” the nation’s Ministry of Commerce said on its Web site yesterday. The Beijing-based ministry is also looking into subsidies for the products, it said. It didn’t specify the imports’ value.
The European Central Bank said last week that rising protectionism may hamper world trade and undermine the global economy’s recovery from recession. The U.S. placed tariffs starting at 35 percent on $1.8 billion of tire imports from China, backing a United Steelworkers union complaint against the second-largest U.S. trading partner.
Con't: Bloomberg
Wonder if the Chinese flag
Wonder if the Chinese flag will still be flown at the Nations capital on Sept 20th
Lest anyone doubt the communist leanings of President Barack Obama, look no
further than to his decision to hoist the Red Chinese flag (for the first
time in history) over the South Lawn of the White House in Washington, D.C.,
on Sunday, September 20.
According to China Daily, “Chinese associations in the United States had
applied to hold a ceremony in front of the US President’s residence to
celebrate the 60th anniversary of the founding of PRC [People's Republic of
China] . . .
http://republicbroadcasting.org/?p=4336
Do not give into evil, but proceed ever more boldly against it.
Do not give into evil, but proceed ever more boldly against it.
Smoot-Hawley 2009 Style
Obama and his cronies are repeating the mistakes of the 1930's that rurned a sharp recession into a global depression.
Once this gets going there is no way to go but down! America is finally about to experience "you reap what you sow" as 38 years of exporting debased dollars and living beyond their means comes home to roost.
Of course it will not be spun that way - look to the evil Chineese being blamed for ruining the American Dream, when it was the unwise financial decisions made by a succession of administrations, and the inability of the population to think that has placed America where it is now.
Don't misunderstand my comment as being anti-American. I lived there for 6 years before returning home to New Zealand. I always found American people to be wonderful. Sadly they have been conned by the majority of their government and the business interests that own them into believing that all is well with America. As we are seeing, it ain't necessarily so...
Two quotes in parting:
"When goods do not cross borders, soldiers will"
~ Frederic Bastiat
"What good fortune for governments that the people do not think."
~ Adolf Hitler
Oversight Committee
My thoughts exactly...
This could be the way that the evil Obama Administartion... The powerful elitists and the big money whores bring us into the depression they most definetly want. They could be causing the Chinese to say pay up your debt. You know that they work in ways to cause confusion. They caused WWI, WWII, and other wars this way. This is the path to making the sheep follow to the path of the NWO.
So you see you can ask yourself. Why are they doing this now? After so many of our jobs are lost. The best way to attack foriegn imports is to lower the taxes and regulations on our industries. Instead of choking them to a slow death.
***********Ron Paul for POTUS 2012***********
*************Obama Is A Communist!************
**********Repeal the 17th Amendment**********
Double the size of the House of Representatives
$$$$$$$$$AUDIT THE FEDERAL RESERVE$$$$$$$$$$
***********Ron Paul for POTUS 2012***********
*************Obama Is A Communist!************
**********Repeal the 17th Amendment**********
Double the size of the House of Representatives
$$$$$$$$$AUDIT THE FEDERAL RESERVE$$$$$$$$$$
What good fortune indeed
for the con men who sold our country out from under us. Thanks for sharing that observation.
OH NO
We may have to MANUFACTURE SOMETHING NOW.
Nope.
We'll just buy them from some other poor Third World country. I'm sure cheap products from India, southeast Asia, or Eastern Europe will gladly fill the void left by China.
We have to manufacture
We have to manufacture something other than OTC derivatives, the specialty weapons of mass financial destruction that Wall Street has mass produced and distributed all over the planet.
http://jsmineset.com/2009/09/13/mountain-of-otc-derivative-w...
Interesting that it would be tires/wheels
that would be the vehicle to a global currancy.
WE ARE GOING TO WIN!
___.---.___
.' ( ) '.
) /)' '( )
',_( ';-;'\_,'
|-|
(")
They peg their currency to ours
so at any given time goods are right off the bat 25% cheaper than American made goods. How are American companies supposed to compete with this? That is unfair trade practice.
And we pay to import Chinese goods
With money we don't have. It is completely insane. For the companies that have moved off shore its great. The value of their companies goes up, before they've produced a thing. In this way we are subsidising the destruction of our own economy.
About time Obama does
About time Obama does something right. Globalization is one big socialistic system hi jacking money from the working middle class and giving it to banks and countries like China. PEOPLE WAKE UP!!! You cant compete with slavery.
You have the wrong "ist"
Try Fascist rather than Socialist. What we have appearing throughout the world is a Musolini style Fascist state - the marrage of state amd business - where the state determines how business is run and which business survives.
The U.S. would cut it's own throat, The U.S will do as they say.
Thomas Jefferson once said, "The natural progress of things is for liberty to yield and government to gain ground."
Well, I guess he called that one.
A Republic, If You Can Keep It
funny
to hear a country that pegs its currency to the American dollar and manipulates its value talk about unfair trade practices.
Actually...
the only reason it ~pegs it's currency~ to the value of our dollar is because they have purchased so much of our debt. You know, because we've told the world that we're a good credit risk... lol.
Sad to say, but without China we wouldn't have the lights on in most towns in the US. That time is coming, though.
Because as a credit risk, we suck.
~Live life to its fullest, with an open heart, open arms and most important... an open mind~
china is the most protectionist country in the world
quite fun to try and ship something into china...
Technology products are blocked. companies to be setup in china require china counterpart to setup it up, and taxes are hammered on products shipped into china and forgiven in a vat like model on their exports..
There are the protectionist nation in the world...
Things were bound therefore to crash and burn.
Was the tire tariff
retaliation for China's repudiation of fraudulent Western finance schemes?
http://in.reuters.com/article/oilRpt/idINPEK33016020090829
its going to get much worse
Obama doesn't understand cause and effect, it's that simple, you pander to one group, give them a few inches but don't think about anyone else.
35%!
That's huge.
sick
yeah, but they made the union happy... at the expensive of our entire economy and most likely our country.
the Austrian School
predicted these things would happen in the bust years ago. Plus this is just going to add to the soon-to-swing-to-negative sentiment that will drive markets down further and force businesses to retrench their operations. Tarrifs hurt the end consumer, period.
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
I think I have found out almost precisely where the market will form its top and start the really big wave down!
http://www.investophoria.com
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Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
Remember...
what we have is not free-trade. China does not allow most products free entry into their country. Therefore, it is managed trade as the good doctor has said. Install a low tariff on all goods entering the country to fund the government and abolish the income tax. Prosperity is easy!
Does the central bank of China get charged income tax?
They better be careful or else the U.S. government will tax them even more.
By the way, what is the tax bracket for those who have earned 1.3 trillion dollars.
grant
P.S. - NICE
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
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Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
hilarious
Piece be with you
http://goldsteinrepublic.com
Well the Swiss bank just
Well the Swiss bank just told their clients to sell all American assets... if we are going to be overtaxing and overregulating chinese investors then of course it is not a good decision to bring capital into American assets.
This is all a war on American business by the US government, the IRS and the Federal Reserve.
Just saying, that is how it is.
http://www.meetup.com/RP2012GrandJunctionCO
I agree 100% captcorona
And not only that, let the trade wars start and tariffs be raised against the U.S. Maybe we'll be forced to start manufacturing something again.
Great Idea!
The sooner Obummer pisses off China, the sooner they stop buying our debt and the Country collapses along with the currency. Then we can start fresh in our States..Who knows, after a while we might even get back together. Probably not all 50 States, like now, but something that is a lot more limited in scope and oriented towards protecting our Life, Liberty and Property.
Godspeed!
I hope your right.