USA, In A Panic, Starts Trade War With China
By Elaine Meinel Supkis
The trade deficit yawning ever deeper, in a panic, the USA decides to attack trade from China, ignoring totally trade issues with Japan who is a greater danger to us, I believe. Alienating 1/4th of the planet while placating 1/16th is a very stupid plan. China is ready to bop us on the nose in this spat.
From Washington Post:
The Bush administration on Tuesday announced it will step up enforcement of U.S. trade laws governing China, following a top-to-bottom review of America's trading relationship with the Asian giant.This, on top of the Pentagon report which basically declares war on China is going to ratchet up tension between China and the USA. China, unlike Japan, actually is our inflation sink, keeping prices down on many common domestic items. Most of what they ship here are low grade stuff. Japan and Korea send mostly high value stuff like automobiles. Because China is very big, they can produce lots of little things which add up but Japan, by far and away, gets much more bang for their buck and their trade surplus with us nearly doubled this last year and they wickedly drove down the value of the yen to record levels in the last ten years.
The increased enforcement will be led by a new chief counsel for China trade enforcement within the office of U.S. Trade Representative Rob Portman.
Portman announced a number of steps during a news conference in which he released a 29-page report detailing the findings of a six-month review of America's economic relationship with China.
The Chinese, unlike the Japanese, are eager customers for high value items. Like jets. From Xinhua net:
Of the 863 operating civil planes in China by November 2005, 534 are from Boeing company of the United States, a senior Chinese civil aviation executive said here Tuesday.This article, spat out by the official powers that be in China on their official website is an official shot across our stupid prows. Or shall I update this with, a load of buckshot across our eyebrows.
"Calculated according to the catalogue price, China has spent nearly 40 billion U.S. dollars on purchasing planes from the United States," said Li Jiaxiang, president of the China National Aviation Holding Company, at the China-US Business Forum opened here Tuesday.
He said that growth in China's civil aviation industry has contributed tremendously to development of Sino-US economic and trade relations. "The greatest beneficiary is the US plane manufacturing business," said Li.
"China purchases a large number of plane engines, aero-electric equipment, accessories and advanced navigating devices each year and enjoys maintenance service provided by U.S. companies," said Li.
Meanwhile, tens of thousands of employees of China's airplane companies have received various forms of professional training in the U.S., which have brought more profits to the U.S. aviation field, Li said.
"The growth of China's civil aviation has provided hundreds of thousands job opportunities to the U.S. aviation industry, which proves that the two nations have win-win economic and trade relations," said Li.
It is a sharp reminder of who buys what. And if we think any of those 70+ Boeing contracts will be fulfilled, well, I predicted this won't come to fruition because of increasing friction. For we are in a head to head battle over who gets to suck up all that oil and the only way we can win this is to kill lots and lots and lots of people. Like, world war levels of killing. We can't entice the Muslim world to hand it over so we lord it over them.
President Hosni Mubarak of Egypt has moved to postpone by two years elections for thousands of local government positions initially scheduled for April, turning away from a promise made during his recent presidential race to promote democratic practices, Egyptian political analysts and political leaders said today.Forget the freedom and democracy stuff. We don't want that. And in Pakistan, this: From the BBC:
The move was widely seen in Egypt as an effort to preserve the governing National Democratic Party's monopoly on power at a time when its grip has begun to falter. It also was seen as an effort to block the banned Muslim Brotherhood, which made unprecedented gains in recent parliamentary elections, from promoting an independent candidate for president in 2011.
Pakistani security guards have shot dead two protesters in Lahore during unrest over Western newspaper cartoons satirising the Prophet Muhammad.We want them to buy our stuff but we tell them to stuff a sock in their mouths and shut up. Note, no one is burning Chinese businesses...yet.
The shots were fired by guards at a bank as crowds attacked buildings, including US fast-food outlets.
Like with the Great Depression, all nations will turtle up. Even though our rulers want to range across the planet making deals and sticking knives in our ribs, when populations get fed up and start revolutionizing and rioting, well, the elites have to have a world war! That will fix things!
The biggest international workers' meeting happened in....1914, mid July, to be exact. All ruling elites wanted a small conflict to bring their workers in line and were pleased to watch that famous meeting dissolve into nationalist yells for war and splitting up.
Later, the Russian royals were shot dead and Lenin took over Russia. The war didn't work so hot, did it?
When launching wars, the thing to remember is, once the trigger is pulled, you don't know who gets plastered in the face with buckshot.
America runs a deficit with the world because we have interlocking fiscal conspiracies to create a totally fake currency whose value is pretend every bit as the ruble was pretend, back in the Soviet Union, only this is the whole world doing this. Holders of our dollars are rapidly buying up all of our important infrastructures and systems and factories. This is why not one factory job has been created in excess of those lost in the last...since we hit the Hubbert Oil Peak here in 1972. Even our military/industrial giants are being purchased by foreigners.
And we haven't even begun to balance the budget. I read the other day that Africa is losing $180 billion a year. This money flows to our Treasury. It is part of the tidalwave of dollars churning around the planet. So, we get all this money and are deep in the hole? This is insane! Impossible.
From Associated Press:
NEW YORK - Stocks moved higher Tuesday, gathering momentum as oil prices fell close to the $60 level and a retail sales report showed that consumers are indeed willing to spend. The Dow Jones industrials were up nearly 100 points.Every bobble in oil prices sends waves of irrational euphoria through the markets. Like, we will soon see endless seas of oil in the future, once again, prices will drop and drop and there will be no inflation because we will send all that money to China to be woven into gold and shipped back here, cheap.
Broader indexes also advanced even as investors nervously awaited testimony starting Wednesday from new Federal Reserve chairman Ben Bernanke.
The Commerce Department said retail sales outside of autos rose by the largest amount in more than six years. And crude oil futures fell amid expectations that a U.S. supply report will show higher crude inventories. A barrel of light crude was quoted at $60.45 a barrel, down 79 cents, in trading on the New York Mercantile Exchange.
And cheap loans! It seems everyone, saving not even a penny, are banking on cheap loans stretching from here to the distant horizons. Only we are heading into a serious trade war with everyone.
From USA Today:
Trade tensions escalated between the United States and Europe Monday after the World Trade Organization ruled that the U.S. had not gone far enough to end illegal tax breaks to big American exporters.See? Europe is mad at us and we are mad at them and the Muslims are burning down our businesses and the Emirates are buying up our sea ports and China is sewing up all oil future contracts with many nations who hate us.
European trade Commissioner Peter Mandelson threatened to impose sanctions on U.S. goods unless the U.S. came into compliance with the WTO ruling within three months.
So it is time to shop, America! Buy more stuff from China! Cheap! Hurry now, it ain't gonna last much longer. As I said in the past, our fake prosperity will end the day the Chinese decide to ring down the curtain on us.
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