Bill Punishing China for Currency Manipulation Moves Closer to Senate Vote

There are 59 comments on the Fox News story from Oct 3, 2011, titled Bill Punishing China for Currency Manipulation Moves Closer to Senate Vote. In it, Fox News reports that:

The Senate on Monday weighed whether to punish China for undervaluing its currency and taking away American jobs.

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lct

Beijing, China

#44 Oct 6, 2011
Jim Em wrote:
<quoted text>
HK yes, Taiwan no. Taiwan is too important for our military industrial complex to be included with China Exports for one thing and they are still considered a separate country by the USA.
no, they are not, according to your government. besides taiwan is not big enough to support your military industrial complex. not even usa is.

anyway, there is a gap between CIA number and Chinese number.

Since: Mar 08

Long Island City, NY

#45 Oct 6, 2011
Hi der wrote:
Technically the reason it has remained stable, is that the Chinese gov. has locked the value in to the dollar, it is not a real free-floating currency.
Yes, at the time when the Chinese government first peg RMB onto the dollar at a fixed rate, the RMB was over-valued. The blackmarket at the time would trade 1US to 8RMB, 1 to 10, or even more. While the exchange rate hadly moved within the last 30 years, it is the supply of US dollar that has, or rather the over-supply of US dollar by Fed's printing machine that has reduced the value of the dollar, not China.
JAPAN CANT SAY NO

New York, NY

#46 Oct 6, 2011
Japan caved into the same currency demands when ordered by Uncle Sam. That didn't turn out too well for Japan, did it?

But China's a different breed altogether.

A-HHAHAHAHHAHAHAHAHAHAHHAHAHAH AA
lets owe14trillion USD

Scranton, PA

#47 Oct 6, 2011
Drgunzet wrote:
If this bill passes in the Senate, I will go to fine restaurant and order steak&wine to celebrate.
too bad your too stupid too know this will hurt America more than China...

and in the long run close off China even more to America...

which I would say is a good thing... like we want the American elite fcuking over China like they did the USA
Robbie

Edenton, NC

#48 Oct 6, 2011
U OWE A LOT 14 trillion wrote:
<quoted text>
China's Rising Wages Mean Inflation for Investors
Tuesday, March 22, 2011
Jason Simpkins
Higher wages for workers in China are resulting in elevated prices and shrinking trade surpluses for global investors. As the pace of economic development and employment rises, so do inflationary pressures. In response, many manufacturers are leaving China. Learn more by reading this article from Money Morning.
There's a sea change underway in China's economy -- one that's evident in soaring prices, shrinking trade surpluses, and higher property values. And it's being driven by higher wages for workers that for decades have been grossly underpaid.
From the country's fast-growing urban centers to its frontier countryside, wages are rising rapidly across China.
China's 31 provinces boosted minimum wages by an average of 24% last year, according to Yin Weimin, China's minister of human resources and social security. Meanwhile, the average monthly income for migrant workers rose 13% to $256.89 (1,690 yuan).
Six provinces already have raised minimum wages this year, and labor shortages and government mandates will likely compel the remaining 25 to follow suit.
The central government is targeting an increase in minimum wages of 13% a year through 2015. Additionally, Chinese Premier Wen Jiabo aims to increase per capita household income by 7% a year in real terms during that period. He's also pledged to improve the social security and healthcare systems to help low-income households and raise the personal income tax threshold - all in an effort to give the country's 1.3 billion people more spending power.
But that's not all. Labor shortages have driven up wages, as well.
Dong Tao, Credit Suisse Group AG's (NYSE: CS) chief regional economist for the Asia region excluding Japan, told BusinessWeek that China is fast approaching the so-called "Lewisian turning point" - a critical moment in a developing economy when its surplus labor supply dries up, prompting hikes in wages, prices, and inflation. In China, demand for workers will outstrip supply by 2014, Tao's team calculated in a January report.
"When historians go back and describe 2010, the big story will be the massive increase in salaries that will redefine the global manufacturing model and redefine the inflation outlook for the next 10 years," said Tao.
Indeed, rising wages - while improving the quality of living for many Chinese - have accelerated inflation, both domestic and global.
Chinese inflation topped expectations at 4.9% in the year to February. Food prices alone rose 11% in February. The producer price index - a measure of inflation at the wholesale level - rose 7.2% in February, the biggest increase since October 2008.
Premier Wen places most of the blame on higher commodity prices and lax Western monetary policies, but he acknowledges that his country's rapid growth is at least partly responsible for rising prices.
"There is an inseparable connection between the pace of economic development, employment and inflation," said Wen. "When the pace of economic development is fast, there is more employment, but inflationary pressures are also bigger."
Yahoo, their now making $257.00 a month---you can't even hire illegal aliens to work for that kind of money over here. You spewed out alot of mumbo jumbo and if you buy into what you said regarding what China reports for exports that's up to you, but I don't believe it for one second. If they do plan on keeping materials made in China then their prices will be much lower than selling on the world market because who will buy it making $257.00 a month..........

Since: Mar 08

Long Island City, NY

#49 Oct 6, 2011
Robbie wrote:
<quoted text>Yahoo, their now making $257.00 a month---you can't even hire illegal aliens to work for that kind of money over here. You spewed out alot of mumbo jumbo and if you buy into what you said regarding what China reports for exports that's up to you, but I don't believe it for one second. If they do plan on keeping materials made in China then their prices will be much lower than selling on the world market because who will buy it making $257.00 a month..........
Do you know 90% of the cost of product on the US market is charged by the US distributor & retailer? When the Chinese manufactorer produce a good worth a dollar, it'll sell in the Chinese market for 2 dollar, but the US retailer will charge consumer in the US for that same goods for 10 dollar. That price difference is pretty much the wage difference.
lets owe14trillion USD

Burlingame, CA

#50 Oct 6, 2011
Robbie wrote:
<quoted text>Yahoo, their now making $257.00 a month---you can't even hire illegal aliens to work for that kind of money over here. You spewed out alot of mumbo jumbo and if you buy into what you said regarding what China reports for exports that's up to you, but I don't believe it for one second. If they do plan on keeping materials made in China then their prices will be much lower than selling on the world market because who will buy it making $257.00 a month..........
it is shocking how ignorant americans can be

wtf are you talking about?

go and do a "Yahoo" search on "purchasing power parity"

trying to equate their cost of living too yours in the USA is just retarded..

how about you equate this some migrant worker making "$257" a month

has been able to save 30% of those measly wages and then lend it back to you loudmouth, lazy americans, over paid asses

making 20 times what they make a year and going into debt borrowing even more money too do it...

and before a low IQ moron says im not broke...

im talking about the "american worker" in general not just you
NWO

New York, NY

#51 Oct 6, 2011
Great Satan better think twice. Payback will be a BEYOTCH!

A-HAHHAHAHAHAHAHAHAHAHAHHAHAHA HAA!
Mirolyuba

Vancouver, Canada

#52 Oct 6, 2011
"Payback"? What's that? Hollow propaganda threats?

No take-out?

But the overseas Chinese community HATES THE CHINESE COMMUNIST PARTY DICTATORSHIP! No chance of that!

I guess vague and empty p[ropaganda threats ARE all you have, pathetic CCP CLOWN!

HA HA HA HA HA HA!

Since: Aug 08

United States

#54 Oct 7, 2011
Jim Em wrote:
<quoted text>
That is to send money overseas, not for personal use inside the country. I also stated I believe a person can exchange RMB for whatever currency they are traveling too, I would assume by showing a visa. International exchange of money is kind of a no brainer. I do it through pay-pal to pay for my web site and sometimes to buy things that are hard to find here. Of course I am not handling the money. It's all done electronically anyway.
My statement was for exchange within China. Sometimes students ask me for an American dollar, because the banks won't change it, the students have stated it is illegal. I have heard the same from adults.
I checked your previous posts, you are right, but I thought any Chinese person would only need to exchange their RMB to USD only when they are going to spend money abroad, no? I mean why any Chinese would want to exchange their RMB into USD in China where everything is priced in RMB?

Since: Jul 11

Location hidden

#55 Oct 7, 2011
Careful, Jim, dzhou is fishing for lucrative info in Chinese students activity, lol.
Mirolyuba

Vancouver, Canada

#56 Oct 7, 2011
I assume the CCP criminals pay an extra nickel for such information, as it allows them to directly attack, threaten, or even kill any Chinese (and their families; in typical CCP fashion)who speak out against the CCP dictatorship and its crimes against the Chinese people.

Since: Aug 08

United States

#57 Oct 8, 2011
CCPgenocideTibet wrote:
Careful, Jim, dzhou is fishing for lucrative info in Chinese students activity, lol.
Shoewhore and Mirotard, two retards, one common characteristic, clueless!

Since: Jul 11

Location hidden

#58 Oct 8, 2011
hey, at least we're not looking to crucify our fellow citizens.
dzhou wrote:
<quoted text>
Shoewhore and Mirotard, two retards, one common characteristic, clueless!
TRUTH SHALL SET YOU FREE

New York, NY

#59 Oct 8, 2011
Crucify is for Christians.

Since: Mar 08

Long Island City, NY

#61 Oct 10, 2011
CCPgenocideTibet wrote:
hey, at least we're not looking to crucify our fellow citizens.
<quoted text>
Crucifying other nation's citizen is so much better, so much more satisfying you mean?
Contributions

Saint Paul, MN

#62 Oct 10, 2011
Drgunzet wrote:
If this bill passes in the Senate, I will go to fine restaurant and order steak&wine to celebrate.
Only to find out that prices have doubled and you can't afford the food, and get kicked to the curb.

Lol.

Celebrating that retarded bill is like celebrating your own leg being amputated so you can use it like a club to bash the Chinese.

End result, you're still a cripple.

Since: Aug 08

United States

#63 Oct 10, 2011
CCPgenocideTibet wrote:
hey, at least we're not looking to crucify our fellow citizens.
<quoted text>
At least one thing we agreed upon is that you are a clueless retard

Since: Aug 08

United States

#64 Oct 10, 2011
CCPgenocideTibet wrote:
hey, at least we're not looking to crucify our fellow citizens.
<quoted text>
you don't cuz you don't even know what your country is you are a retarded shoewhore remember? hahahahaha

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