U.S. President Barack Obama on Tuesday urged a reluctant China to let its yuan currency rise in value at a summit where strains over trade between the two giants crept into proclamations of goodwill.
With the U.S. unemployment rate at 10.2 percent, one of Obama’s top priorities during his three-day trip to China is pressing Beijing over the huge trade imbalance between the two countries, a move he believes would pave the way for greater U.S. export opportunities.
For Kindle and with free ePub version. Only $9.49 Great reading.
Here is what Gary Shapiro CEO of the Consumer Electronics Association (CEA) said: Dvorak's writing sings with insight and clarity. Whether or not you agree with John's views, he will get you thinking and is never boring. These essays are worth the read!
Subscribe to Main Blog feed here:
Subscribe to Comments too (below):
Bad Behavior has blocked 6849 access attempts in the last 7 days.
Obama – “the domestic enemy the Constitution is talking about”
Gimme a break! He’s talking to blank faces. He could say the sky is green and it wouldn’t matter.
The yuan has to stop being regulated by China and float on its own in the free market. A regulated Yuan is half of our money problems, as an artificially low value drives our manufacturing there. Dumbass.
I didn’t see the pat where Obama is asking China to destroy the dollar.
It must have been an English to Fox translation.
Every day, in every way, my November ’08 prediction of a one-term presidency looks more probable. Of course, if we don’t re-elect Obama, we’ll all be smeared as racists.
The only thing that might save him are all the amazing and wonderful things he did to win the Nobel Peace Prize.
Oh, wait…
“Greater US export opportunities”?
Wouldn’t we have to manufacture, you know, ANYTHING before we could export it?
If the yuan floated free, logic suggests some factories may come back to the USA. And then we can properly pollute our rivers again.
#3 – smartalix
I’m sorry, smartalix… but that piece of information passed way above Guilherme Cherman’s level of comprehension.
He doesn’t want China to destroy the dollar. And China certainly doesn’t want the dollar destroyed (we owe them a lot of money – which will only be paid in $US dollars).
Zimbabwe pulled the same trick – it borrowed $billions, then tried to pay with worthless currency. Let’s see if China falls for the same trick.
Finally someone in government is being honest. Fuck the Americans.
@#3 smartalix – You’re spot on.
What a ridiculous title.
US did a similar trick to Japan in the late 80’s. Because they held so much of our debt in dollars, when the dollar tanked, so did their loans.
It’s called economics. It makes sense.
“Obama asks China to further destroy the dollar”
Yeah, right, that’s EXACTLY what Obama said.
Sheesh! Is “Cherman” trying to get a pundit gig on Fox News?
Pat Buchanan, a true republican, not a neocon, explained very concisely why the refusal of the Chinese to let their currency float free and rise relative to the dollar is killing our economy. it really isn’t hard to understand for anyone who actually uses their brain instead of parroting the daily Limbaugh, etc. talking points.
The borrower is the servant of the lender and we are now a debtor nation. We pay them 500,000,000 a day in interest.
As for as I’m concerned that makes us second rate.
Next time this guy (Obama) bows to a foreign government like China how about someone turning him around about 180-degrees? It’s a view us Americans are WELL acquainted with.
pedro, you bastard slimy lying asshole
where in the story did it say Obama is destroying the dollar. no, you post bullshit like this in an attempt to get “hits”.
and hey, fuck this “chermain” bullshit. we know who posted the story. are you that embarrassed by your own name? well, you should be. everyone around you is embarrassed by your stinking asshole leaking that green stuff.
#17- I think the saying is- ‘owe the bank $10 and they own you. Owe them $1M and you own them.’
“A regulated Yuan is half of our money problems, as an artificially low value drives our manufacturing there.”
I’d say it’s a bit less than half of the problem. Most of the problem is zero regulation in China which allows baby formula without milk, the severe contamination of a city with lead waste, etc., etc. combined with manufacturing wages of $5/day, airline pilots who earn $760/month, etc.
When Americans can accept that sort of thing, manufacturing will return.
When this this blog become a haven for right-wing crack-pots? John, good luck with that subscription model. I’m outa here.
#20 That’s funny, in a way, but not completely true in reality. What you thinking of is the golden rule; he who has the gold, makes the rules.
http://www.chinahush.com/2009/10/21/amazing-pictures-pollution-in-china/
Excellent analysis:
http://www.marketwatch.com/story/the-other-side-of-the-dollar-2009-11-18
@Winston
The cost of fast economic growth. 😛
A great article on the US-China import-export relationship and how it will NOT be changing any time soon:
http://robertreich.blogspot.com/2009/11/obama-china-and-wishful-thinking-about.html
#26 My point in providing that link was to reinforce my previous statement that manufacturing would not return to the US until Americans were also willing to tolerate that level of pollution (which would be never unless there is a total systemic collapse).
If you don’t think all that crap in Wally’s China-Mart is helping the Chinese to economically ruin this country, you have your head so far up your ass your seeing things out of republican eyes. With the advent of Bush the budgets debt went from a negative 300 billion in two short years to over two trillion. Hey it isn’t ancient history, wake up you simple bastards and start thinking about getting a political party that is neither Obama’s or Cheney’s.
Gilherme is becoming a troll