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  #111  
Old February 16th, 2005, 08:51 AM
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Default Re: OT (or is it?): American Imperialism

The Yuan, but it is artificially manipulated vis-a-vis the Dollar to keep trade more favorable for China.
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  #112  
Old February 16th, 2005, 10:04 AM
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Default Re: OT (or is it?): American Imperialism

And in what methods is it manipulated? The planned economy is one thing, of course, but are there others?
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  #113  
Old February 16th, 2005, 10:15 AM
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Got this from googling "Chinese Currency Manipulation"; just the first hit. This is congressional testimony given by a manafucturing trade group, so it's biased, but frankly I'm no expert on the issue, anyways. The effects are rather complicated (I don't understand them, either), but to summarize, many central banks keep their currency artifically weak and strengthen the dollar because this provides considerable trade benefits; there is a large incentive for money to flow out of the strong currency and into the weak currency, encouraging the massive trade deficits that currently exist. This also results in outsourcing, as not only are wages lower in real terms, but the real value of a dollar spent in China is greater.

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Chinese exchange rate policy is an important special case which spells currency manipulation in a different way. The Chinese currency has a fixed rate to the dollar but is nonconvertible on capital account. Over the past year, there has been a $25 billion trade surplus, a $45 billion net inflow of foreign direct investment�which also puts upward market pressures on the exchange rate�and over $50 billion of central bank purchases of foreign exchange. In this case, the central bank purchases offset almost three-quarters of market-generated upward pressure on the yuan from the trade surplus and the FDI inflow combined. Moreover, these official foreign exchange purchases may have been even larger except for an unfolding financial scandal involving billions of dollars of missing reserves.[2]

Based on the IMF definition, China has clearly been manipulating its currency for mercantilist purposes. The Bank of China has made protracted large scale purchases of foreign exchange�$150 billion since 1995�in order to maintain a large trade surplus as an offset to poor growth performance in the domestic economy. A direct measure of the manipulation is not possible because of the nonconvertible fixed exchange rate. There is no doubt, however, that if the central bank had not purchased $50 billion in 2001, there would have been strong upward pressures on the yuan in formal and informal markets. The bottom line is that the Chinese yuan is substantially undervalued and should certainly not be devalued as the Chinese government occasionally threatens to do.

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  #114  
Old February 16th, 2005, 11:13 AM

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Default Re: OT (or is it?): American Imperialism

Quote:
Atrocities said:
Walmart is evil and thanks to Bill Clinton, is the downfall of the American way of life. No crap, PBS ran a NOVA show about it.

One, there is NO free trade with China. It is NORMALIZED trade through the WTO. The WTO is NOT a free trade organization, it is an organization that hopes, eventually, to be free trade promoting. It is primarily a dispute resolution and tariff reducing body. Do not confuse normalized trade with free trade. It used to be called "most favoured nation" status. "The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible."

It is one of the greatest creations of the Post war world, in that it has had a key role in making the last fifty years the most prosperous the human race has ever known - it does this by standardizing trade relations, contracts, and lowering tariffs. The theoretical ultimate goal if the WTO is universal free trade. But it ain't there yet. Today it is primarily a dispute resolution body.

Two, to "blame" Clinton for the WTO (ie: normalizing trade with China) is not only ridiculous but completely ignores the facts for the sake of you getting in another (tiresome) jab at Clinton. Aside from the fact that it was Nixon that normalized relations with China in 1972, businessmen since 1970 have been clamouring for trade with China - and they have been overwhelmingly republican. The vote in Congress to normalize trade with China was very bipartisan and, frankly, very welcomed by the republicans in Congress. Last time I checked the Congress needed to ratify treaties - check the vote and then tell me how much you hate the WTO.

Needless to say, it's ridiculous to blame Clinton for everything wrong with the world. Separation of powers is the way the government works here. By your logic, Bush should be held accountable for everything that goes wrong while he's in office - and, oh, hey, by the way, his party controls all three branches of government. Clinton had to make do with only one. So, hey, hows Bush doing?

It makes rightists seem REAL stupid when Clinton hasn't been president for over four years and they still blame him for all the worlds' ills. It speaks to a certain amount of defensiveness and unwillingness or inability to exhibit any iota of objectivity or ability to self-criticize. Or a bleeif that they're oh so victimized by the left. It must be so terrible to be the victim all the time...but it's pretty hard to keep that facade up when the entire government is controlled by the Right now. But then again, I've never met a far rightist who could ever admit they made a mistake or were wrong about anything. Plenty of moderate republicans, of which I used to be one, could do so...But they have become pretty timid nowadays. The only one who isn't a coward is McCain. Everyone else kisses De'Lay's butt.

The hell with this. I am so tired of hearing the same broken record go on and on...there is such a thing as criticism and then there is mindless parotting of party lines without regard for facts, or for willful ignorance of facts. Propoganda is the rule of the day, both sides play into it. But as individuals we can make a choice to not be part of the problem. Don't be part of the problem.

Good bye.

Oh, here's the basic WTO pitch from their website:

The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

The result is assurance. Consumers and producers know that they can enjoy secure supplies and greater choice of the finished products, components, raw materials and services that they use. Producers and exporters know that foreign markets will remain open to them.

The result is also a more prosperous, peaceful and accountable economic world. Virtually all decisions in the WTO are taken by consensus among all member countries and they are ratified by members' parliaments. Trade friction is channelled into the WTO's dispute settlement process where the focus is on interpreting agreements and commitments, and how to ensure that countries' trade policies conform with them. That way, the risk of disputes spilling over into political or military conflict is reduced.

By lowering trade barriers, the WTO’s system also breaks down other barriers between peoples and nations.

At the heart of the system — known as the multilateral trading system — are the WTO’s agreements, negotiated and signed by a large majority of the world’s trading nations, and ratified in their parliaments. These agreements are the legal ground-rules for international commerce. Essentially, they are contracts, guaranteeing member countries important trade rights. They also bind governments to keep their trade policies within agreed limits to everybody’s benefit.

The agreements were negotiated and signed by governments. But their purpose is to help producers of goods and services, exporters, and importers conduct their business.

The goal is to improve the welfare of the peoples of the member countries
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  #115  
Old February 16th, 2005, 11:24 AM
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Default Re: OT (or is it?): American Imperialism

You know, it's Clinton's fault Enterprise got cancelled too. (Oooo, I'm gonna regret that one, I just know it.)
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  #116  
Old February 16th, 2005, 11:33 AM

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Default Re: OT (or is it?): American Imperialism

Quote:
geoschmo said:
You know, it's Clinton's fault Enterprise got cancelled too. (Oooo, I'm gonna regret that one, I just know it.)
Dude! No way. That was purely a business decision. Had nothing to do with the inherent merits of the show.



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  #117  
Old February 16th, 2005, 01:22 PM
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Default Re: OT (or is it?): American Imperialism

I have seen a couple of incorrect statements in this thread. I was in manufacturing about 5 years ago until I was laid off and About 8 years ago they closed the last factory that made TV's here in American. So there are no TV manufactures to suffer.
Some one mention that we are the only Imperial Power I beg to Differ China Just signed aggreement with several countries to establish military bases overseas to protect their trade routes.
I disagree that we are an Imperial power yet. I think we are still in our Republic Phase and if Things continue along with the federal Government being strong we won't switch over to Imperilism for another 20 years or so. (a cataylist for Empire is to have Military Units that no one cares if they are destroyed or not GEO points out a news article on the development of Robot soldiers built right here in America new Jobs for American Manufcturing anyone?)
And what could be so wrong about an American Imperium? Most people would benifit from it. Some one mentioned being able to drink from their toilet well I bet a lot of folks would be glad if America was in charge and they could drink from their american made Toilets.
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  #118  
Old February 16th, 2005, 02:33 PM
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Default Re: OT (or is it?): American Imperialism

because god knows i wouldnt want to drink out of a forign made toilet. who knows what insidious hands of lesser people might have been molesting it. dive me domestic porcilian, or give me disintary!

or something...

just kidding, of course. everyone take a deep breath, and exhale.
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  #119  
Old February 16th, 2005, 02:56 PM
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Default Re: OT (or is it?): American Imperialism

Quote:
Gozra said:
I have seen a couple of incorrect statements in this thread. I was in manufacturing about 5 years ago until I was laid off and About 8 years ago they closed the last factory that made TV's here in American. So there are no TV manufactures to suffer.
Some one mention that we are the only Imperial Power I beg to Differ China Just signed aggreement with several countries to establish military bases overseas to protect their trade routes.
I disagree that we are an Imperial power yet. I think we are still in our Republic Phase and if Things continue along with the federal Government being strong we won't switch over to Imperilism for another 20 years or so. (a cataylist for Empire is to have Military Units that no one cares if they are destroyed or not GEO points out a news article on the development of Robot soldiers built right here in America new Jobs for American Manufcturing anyone?)
And what could be so wrong about an American Imperium? Most people would benifit from it. Some one mentioned being able to drink from their toilet well I bet a lot of folks would be glad if America was in charge and they could drink from their american made Toilets.
Geez Gozra, are you so passionate about this or something? Judging by the amount of capitals, I'd say you've got a very strong opinion about this subject...

Enterprise CANCELLED?!?!? OMFG - I'll send down a Starfleet Orbital Precision Bomber detachment to Sol III immediately!
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  #120  
Old February 16th, 2005, 03:50 PM
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Default Re: OT (or is it?): American Imperialism

Grin. Well opinated maybe passionate nope. It is my typing style I put captials in were they are not suppose to be and I am too lazy to remove them.
And with global warming in full swing we will have plenty of water to flush toliets.
I find this thread is interesting.
Someone mentioned our cultral Imperlism and seemed to resent it and I guess that could be a valid viewpoint but here in America you see a great deal of cross contamination of cultral influnces. I grew up in all sorts of diffrent places here in America and I found big diffrences and got caught in them (had a tendency when asked were I was from to just give the last place I was from you don't want to tell a southerner that your from The north). Unfortunatly History shows that a successful culture is one that blots out or absorbs the other culture. I am not saying that's right I am just pointing out that that is what happens. And America is a melting pot of cultures and I bet we are still struggling to find The American Culture. The United States of America is a very complex thing made up of a lot of groups. Corporate America. Federal America. North. South. Yuppies. Generation X. Black. Latino. European. Native American. Asian. Californians. No telling how things will sort themselves out. I'm hoping for the one big happy Family thing myself, but I am not holding my breath.
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