#Login Register


  • 1 Vote(s) - 4 Average
Home 


China is about to be hit with a major trade enforcement action from the United States
09-20-2011, 04:04 PM #1
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,283 Threads:1,438 Joined:Feb 2011
China is about to be hit with a major trade enforcement action from the United States.

A statement from the office of U.S. Trade Representative Ron Kirk says he will announce the action later today.

Quote:Tuesday morning may bring a change in the way the United States does business with China. Reuters reported Monday night that US trade officials are set to announce a “major trade enforcement action” against China.

US Trade Representative Ron Kirk will announce the action during a press conference. No further information or details about the enforcement action have been provided.
Read more: http://www.neontommy.com/news/2011/09/us...rade-china

As if that's not enough economic anemia keep your eyes on the Euro wave.gif bye bye

Quote:China Pulls The Rug From Under Europe, Halts French Bank Transactions, Makes Good On Trade War Ultimatum

(Chinas) concern at the EUR's safety (preferring US Treasuries), and indicate a clear preference for bonds over stocks - all the while warning of growing trade tensions - consider the sabre-rattled.
Read more: http://www.zerohedge.com/news/china-pull...-ultimatum'

A real Rosie economic picture eh?

wonder.gif
09-20-2011, 04:12 PM #2
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Getting a little pissy the IMF is forcing the US to bailout Europe when China hinted they would? rofl.gif China wants to swap their T-bills for shares in Intel, Boeing and one other I forget who. Last night Greece came through with their €770 million payment against rumors they'd default rather than lay out that capital. Then it comes out that Greece isn't nearly in as bad a shape as they say, they simply cooked the books to have the EU force austerity on Greeks rather than have the Greeks blame their own politicans chuckle.gif crafty bastards.
09-20-2011, 04:14 PM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,283 Threads:1,438 Joined:Feb 2011
bump.gif

How about this:

Quote:China bank halts forex swaps with Europe banks

An unidentified Chinese state-run bank has halted foreign-exchange swaps with several European banks, with the suspension believed to include BNP Paribas SA FR:BNP -1.60% BNPQF -3.04% and UBS AG UBS -1.56% , according to reports citing unnamed sources. http://www.marketwatch.com/story/china-b...atest_news

Societe Generale SA was also on the list.

Whats going on here?

wonder.gif
09-20-2011, 04:18 PM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,283 Threads:1,438 Joined:Feb 2011
(09-20-2011, 04:12 PM)Shadow Wrote:  "Greece isn't nearly in as bad a shape as they say, they simply cooked the books to have the EU force austerity on Greeks rather than have the Greeks blame their own politicans chuckle.gif crafty bastards."

I like to see political scammers competing with Banks and FED chairmen, keeps everybody dishonest. rofl.gif


wonder.gif
09-20-2011, 04:25 PM #5
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
Sure, just wait until the next t-bill auction, and China isn't there to buy. coffeetime.gif

Biere.
09-20-2011, 04:32 PM #6
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011

China has stopped buying as many US T-Bills and is offloading as many as they can, while forming bi-lateral trade deals with energy giant Russia. China is also getting a hold of as much gold as it can.

This displeases Uncle Sam.

In Europe sooner rather than later a lot of shït sandwiches need to be eaten. They are only getting bigger stink more the longer they leave it.
09-20-2011, 04:35 PM #7
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(09-20-2011, 04:14 PM)JayRodney Wrote:  Whats going on here?

China is playing the US and EU against each other. Collapse of the EU and USD to make Renminbi reserve currency? dunno.gif China's banks aren't in such good shape either see if I can dig up that link...
09-20-2011, 04:38 PM #8
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,283 Threads:1,438 Joined:Feb 2011
(09-20-2011, 04:35 PM)Shadow Wrote:  
(09-20-2011, 04:14 PM)JayRodney Wrote:  Whats going on here?

China is playing the US and EU against each other. Collapse of the EU and USD to make Renminbi reserve currency? dunno.gif China's banks aren't in such good shape either see if I can dig up that link...

Sounds like a logical explanation actually.

wonder.gif
09-20-2011, 04:55 PM #9
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011

China is a developing country, based predominately on exports to the US. The US Government could easily bring down China and visa versa. It's too interconnected for one country to win in a trade war, only a real war would 'fix' the situation. As has been done throughout history when economic collapse is at the door of Empire. Thus we have lots of proxy wars and rebellions.

Renminbi won't become the world reserve currency. It will be something based on SDR's at the IMF.
When they let the Chinese have a voice at the Bilderberg this year its a sign, they can't be ignored. Shows how far they have been allowed to develop since Nixon visited Mao.
09-20-2011, 05:04 PM #10
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
I disagree P, China does not need the US anymore. US imports of Chinese goods has fallen off a cliff since '08 and even then they were 30% of China's export market. Id Japan joins ASEAN they have all the technological skills they need. Don't forget the rare earth metals China will no longer export. Also, the US is 70% service based industry, where in the hell will they get the skills for manufacturing their own goods? They can't revert back to an industrial economy without a collapse in the $. Without Chinese capital flowing in and out of the US (they're already slowly unpegging the Ren to the US$) the US is screwed. No, they do not need the US anymore.

I agree the renminbi has little chance of becoming the reserve currency but doesn't mean they won't take down the Euro and the US$ trying.
09-20-2011, 05:41 PM #11
Kreeper Griobhtha
Posts:10,599 Threads:635 Joined:Feb 2011
I disagree, Shadow. The factories are still here and so is the skilled labor that used to work the factories. They could easily fire them back up and start running again. There are 14 million+ people out there that will take those jobs if...

and that's a BIG if...

The government will have to change where the money is going. They will have to quit sending all those billions over seas and start putting them into jobs programs. There are plenty of unemployed construction workers that can renovate some of the factories. New factories could be built. Former factory workers could be retrained to work in the updates factories. the key would be keeping the unions out of the picture in order to keep the costs down. It could be done but it would take work and sacrifice. Therein lies the problem. Unemployment benefits would have to taper off, welfare would have to be limited (Like they are finally doing in Michigan.), people would have to quit living the spend spend spend lifestyle they have been and would have to revert back to the thrifty lifestyle of the past. It could easily be done, if the people are willing to do what it takes.

Then again, it will never happen because it isn't a part of the POO Plan.


.

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
09-20-2011, 05:55 PM #12
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(09-20-2011, 05:41 PM)Kreeper Wrote:  Then again, it will never happen because it isn't a part of the POO Plan.

Which is why it won't happen until there's a dollar collapse. Corp.s aren't going to invest in US manufacturing while corporate tax rate remains the highest in the developed world and the service industry which provides so many subsistence wages are subsidized by welfare programs like medicare and food stamps. 42,000 US factories closed and 6 million jobs since 2001. High paying jobs are shipped overseas. okay the factories are still there, (in whatever condition) cutting welfare programs will not solve anything, it'll only drive more and more Americans into poverty. End the wars, send the banksters to prison, stop the bailouts, cut corporate tax rates and insist any tax break be invested in the US and paying a living wage. Obama's latest stimulus farce won't do anything but put more debt dollars into corporate pockets. IT ISNT WORKING gaah.gif

/rant chuckle.gif
Ninelives Show this Post
09-20-2011, 06:18 PM #13
Ninelives Incognito Anonymous
 
Quote:42,000 US factories closed and 6 million jobs since 2001

Ouch!
09-20-2011, 06:18 PM #14
Kreeper Griobhtha
Posts:10,599 Threads:635 Joined:Feb 2011
Very true except the welfare/medicaid thing. Work any at all, even at minimum wage and you get nothing. Sure, you could get a couple of dollars in food stamps if you have kids, but only if and seriously only a couple of dollars.

They need to reenact the protection tariffs so corporations will bring the jobs back. They mad it far too easy for the corporations to move abroad and pay $1 daily wages. Notice the prices didn't come down but the product quality did?

But, yeah, none of this will ever happen. Things are progressing according to plan.

gaah.gif

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
09-20-2011, 06:49 PM #15
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,283 Threads:1,438 Joined:Feb 2011
I can't escape the notion the plan is to implement a new system.

The POO is evening the playing field by making US labor worth the same as China's, Mexico's etc. This is all about lowering the standard of living in the US, it's being done by our elected cartel and all in the name of globalism.

Everybody knows what needs to be done, but our leaders sold their souls to corporate and special interests that want to eliminate wealth worldwide for all but the 0.01% that's always controlled things from behind the scenes, and the 4.99% (governments, banks, corporations, religion) that serve their interests.

The more that things change the more they stay the same.

wonder.gif



Home 




 



DISCLAIMER / Terms of Service (TOS):
Kritterbox.com - Socialize anonymously, commentary, discussion, oddities, technology, music and more!  This website is provided "as is" without warranty of any kind, either expressed or implied. kritterbox.com shall not be liable for any damages whatsoever, including, without limitation, those resulting from loss of use, data or profits, whether or not advised of the possibility of damage, and on any theory of liability, arising out of or in connection with the use or performance of this site or other documents which are referenced by or linked to this site.
This website exists solely for the purposes of exchange of information, communication and general entertainment. Opinions from posters are in no way endorsed by kritterbox.com. All posts on this website are the opinion of the authors and are not to be taken as statements of fact on behalf of kritterbox.com. This site may contain coarse language or other material that kritterbox.com is in no way responsible for. Material deemed to be offensive or pornographic at the discretion of kritterbox.com shall be removed. kritterbox.com reserves the right to modify, or remove posts and user accounts on this website at our discretion. kritterbox.com disclaims all liability for damages incurred directly or indirectly as a result of any material on this website. Fictitious posts and any similarity to any person living or dead is coincidental.
All users shall limit the insertion of any and all copyrighted material to portions of the article that are relevant to the point being made, with no more than 50%, and preferably less of the original source material. A link shall be visible in text format, embedded directly to the original source material without exception.
No third party links, i.e. blogs or forums will be accepted under any circumstances, and will be edited by staff in order to reflect the original source of copyrighted material, or be removed at the sole discretion of kritterbox.com.
Fair Use Notice:
This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. Users may make such material available in an effort to advance awareness and understanding of issues relating to economics, individual rights, international affairs, liberty, science, and technology. This constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C.Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for educational and/or research purposes.
This Disclaimer is subject to change at any time at our discretion.
Copyright © 2011 - 2017 kritterbox.com