Chi Guy asked:
Much like Nixon ignored the Japanese breaking anti-trust laws with their electronics companies. This destroyed the US electronic manufacturers.
wingshoo (below) They are ILLEGALLY conspiring on the price of goods that are shipped to the US.
Japan did in the 60s and killed US companies in the same manner. These are INTERNATIONAL anti-trust laws they are breaking.
if it means $ in their pockets, what the hell
Comment by Neddie — September 21, 2007 @ 12:55 pm
Because Clinton set it in motion. It’s too late to stop.
That was part of the deal Clinton made with the Chi Coms for millions in campaign money.
Clinton also sold them nuclear secrets for campain money.
Comment by wolf — September 24, 2007 @ 10:17 pm
because many major industries out source with china. today just about every thing comes from japan or china too esp toys you can look on the label and see made in china.
Comment by RenB — September 25, 2007 @ 5:19 am
It is a myth the U.S. owes China a lot of money and that myth is perpetuated by the communist Chinese government. China only buys our debt to manipulate its currency. In fact, China is not using its money to pay off its world debt, instead it is using money to buy our debt to create a larger trade deficit for America. Also, there is no way China could instantly sell off the debt since many t-bills are long term ones.
President Bush can’t do jack thanks to Clinton. Clinton forced the world to let China join the WTO. Because of that, it is extremely difficult to put trade sanctions on China.
China is devaluing its currency while “pegging” it to the U.S. dollar. That is economic warfare and it will eventually bankrupt the U.S..
Clinton sold out to China. That has caused bankruptcies all across America. .
The Idiot’s Guide to Chinagate
Missile Technology Sent To China
Clinton and Chinese Missiles
“Chinese Army Gets U.S. Missile Technology for Money”
Can Any Liberals Explain Why Clinton Sold Out To China?
Comment by a_bush_family_member — September 28, 2007 @ 1:08 pm
Bush is an IDIOT ! Good job Brownie – Katrina, Good job – Alberto – Justice dept, and now ,,, Good job Wolfie…World Bank.
Stupid runs through his veins !
On another subject, Bush said that he wanted Paul Wolfowitz to remain as president of the World Bank.
“He ought to stay,” Bush said. Wolfowitz is being investigated for helping to arrange a contract to give a big salary increase to his female companion.
The man is pure S T U P I D ! ! !
Comment by razorcut44 — September 30, 2007 @ 8:39 pm
Uh…it’s their country and their manufacturers, they don’t have the right to get what they can for their product???
Comment by wingshooter08 — October 3, 2007 @ 9:54 pm
I think you need to think this one out. Bush acting on the Chinese price of imported goods, then the Chinese ask for principle payment on the money we owe them (national debt that we only pay interest on). With serious interlaced economies there will only be two big losers.. Chinese and Americans.
If you check it historically, Nixon also had issues with the national debt; which we were and still are paying interest only to Japan.
Politicians won’t talk about it but it’s there! The National Debt, 9 trillion and growing daily, think about it?
Comment by ggraves1724 — October 7, 2007 @ 8:16 am
Here is something to be more worried about, especially anyone with a mortgage, or wanting to purchase a home:
Here’s how the U.S.-China economic relationship currently works:
Money is pouring into China, both because of its rapidly rising trade surplus and because of investments by Western and Japanese companies. Normally, this inflow of funds would be self-correcting: both China’s trade surplus and the foreign investment pouring in would push up the value of the yuan, China’s currency, making China’s exports less competitive and shrinking its trade surplus.
But the Chinese government, unwilling to let that happen, has kept the yuan down by shipping the incoming funds right back out again, buying huge quantities of dollar assets – about $200 billion worth in 2004, and possibly as much as $300 billion worth this year. This is economically perverse: China, a poor country where capital is still scarce by Western standards, is lending vast sums at low interest rates to the United States, mainly to fund our war.
Yet the U.S. has become dependent on this perverse behavior. Dollar purchases by China and other foreign governments have temporarily insulated the U.S. economy from the effects of huge budget deficits. This money flowing in from abroad has kept U.S. interest rates low despite the enormous government borrowing required to cover the budget deficit.
Low interest rates, in turn, have been crucial to America’s housing boom. And soaring house prices don’t just create construction jobs; they also support consumer spending because many homeowners have converted rising house values into cash by refinancing their mortgages.
Doesn’t this sound like Iraq all over again? No planning for the future? Except that this time, it’s not just a couple hundred billion at stake, it’s about ten trillion (yep, ten thousand billion) dollars worth of assets whose value may drop significantly. You’d expect them to care about that, maybe?
Comment by Marina G — October 9, 2007 @ 5:12 pm