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BANGKOK 18 July 2019 01:54
Scott

SURVEY: Trade Wars -- necessary or not?

SURVEY: Trade Wars -- necessary or not?  

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On 5/19/2019 at 2:24 PM, Chomper Higgot said:

The next financial crisis, like the last two is being created by uncontrolled banking.

Since the 4 biggest banks in the world all are in China, we might see the mother of all banking crises in a few years.

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2 hours ago, MickeyDelux said:

The survey question give's the wrong information. Not really a surprise the media promotes more lies. Everyone knows China has been stealing from the West. Now, finally a US President doesn't allow Chine to continue its unfair practices, the leftist call it retaliatory... Get real  

China doesn't have to steal. 

 

Western companies who want to enjoy the benefits of slave labor and other Chinese goodies have to give away some of their knowhow, which they gladly do, since they are only motivated by short term profit and have no interest at all in the future. 

 

 

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4 hours ago, lannarebirth said:

 

Lots of things you can do. You can pass a law that says that if your company hopes to sell it's product in our country xx.x% of production must take place in our country. If the business chooses not to meet that number you impose tariffs based upon how far they have missed the mark.

In theory yes, if Trump was sincere, which he is not. 

 

Why is the worst offender by far, the mighty Apple company, excluded from Trump's list? 

 

A company that not only uses and abuses of Chinese sweatshops, but on top of that has stashed more than a hundred billion dollars in some tropical islands in order to avoid paying taxes. 

 

Apple should get a special treatment indeed, with 50% import duties instead of 25%!

 

The truth is that these sanctions are not inflicted for economic reasons, but for geopolitical ones. 

 

The declining empire can't fathom the idea that it will be taken over by a rising opponent, fair or unfair, and is going to push the envelope as far as needed, which will include military action, sooner rather than later. 

 

As an aside, be aware that with the first exchange of fire, all the Chinese tourists, high quality or not, will disappear from Thailand, resulting in empty hotels and super discounts for the residents... can't wait... 

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1 hour ago, Brunolem said:

As an aside, be aware that with the first exchange of fire, all the Chinese tourists, high quality or not, will disappear from Thailand, resulting in empty hotels and super discounts for the residents... can't wait... 

Don't worry. Their uniformed compatriots will fill the void. It will only take them an hour or so on the new high speed rail they are building for the Chinese to come through Laos and occupy Thailand--officially.

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On 5/21/2019 at 12:51 PM, zydeco said:

Of course, Nike isn't necessarily "required" to pass on the cost of tariffs to Americans, is it? Imagine taking a 25 percent hit on a $16 shoe ($4) that you then inflate by $534 or more in price.

 

On 5/21/2019 at 12:52 PM, lannarebirth said:

What's wrong with a tax on consumers that are content to buy products that lead to global pollution, vast wealth inequality, substandard working conditions, in support of mass civil liberty abuses and a totalitarian regime? In addition to the tariff maybe they should get an electric shock when they pick up the product they wish to buy.

Amazing.  I gave you guys ONE example, but there are many, many others.  Dozens.  Here is another one....Maine lobster.

 

https://edition.cnn.com/videos/business/2019/05/21/maine-lobster-industry-trade-war-newday-vpx.cnn

 

 

 

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59 minutes ago, Kelsall said:

We have been in a trade with China for 30 years.  Trump is turning the tables on them (and a lot of other people).  MAGA.

Something to consider...............China accounts for over 95 percent of the world's production of rare earths. Therefore, having control of these elements puts China at a powerful position esp as they are used in electronics production/manufacture etc, and cutting off the supply to the USA for example would prove catastrophic.

 

Trump doesn't necessarily hold a trump hand here.

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15 hours ago, xylophone said:

Something to consider...............China accounts for over 95 percent of the world's production of rare earths. Therefore, having control of these elements puts China at a powerful position esp as they are used in electronics production/manufacture etc, and cutting off the supply to the USA for example would prove catastrophic.

 

Trump doesn't necessarily hold a trump hand here.

I don't think China will ever play the rare earth card. They tried once and there is a WTO ruling on the subject, which China dutifully complied to.

Rare earth minerals do exist outside China, it is just a dirty mining process so most big miners stay clear of it.

During the oil embargo in the '70 when Saudi cut oil export in half overnight, they were soon facing gushing oil well in the North Sea. To this date, 40 years late the Saudis are still fighting for market share and have pretty much lost price control over crude.

Could China do the same mistake? most likely not. 

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3 hours ago, ExpatOilWorker said:

I don't think China will ever play the rare earth card. They tried once and there is a WTO ruling on the subject, which China dutifully complied to.

Rare earth minerals do exist outside China, it is just a dirty mining process so most big miners stay clear of it.

During the oil embargo in the '70 when Saudi cut oil export in half overnight, they were soon facing gushing oil well in the North Sea. To this date, 40 years late the Saudis are still fighting for market share and have pretty much lost price control over crude.

Could China do the same mistake? most likely not. 

Always respect your posts and I think you have a very valid point, although you never know what a large superpower like China will do if it is cornered, so best not to provoke it in my opinion.

 

Then of course there's the huge amount of US debt they hold, so they do have some good cards in their hand, just a case of whether or how they will play them or not.

 

The unfortunate thing is that the orange clown doesn't really understand how tariffs affect both parties in the tariff war and that's a worry.

 

PS. I worked on a couple of BP rigs in the North Sea early in the 70s, Forties Alpha and Bravo, as well as training for the Mobil Beryl platform which I never actually got on. Later worked on the Elf platform construction in the Frigg Field, offshore Norway, and that was a mess and extremely dangerous due to very poor health and safety regulations – – but that's a different story for another time! 

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1 hour ago, xylophone said:

Always respect your posts and I think you have a very valid point, although you never know what a large superpower like China will do if it is cornered, so best not to provoke it in my opinion.

 

Then of course there's the huge amount of US debt they hold, so they do have some good cards in their hand, just a case of whether or how they will play them or not.

 

The unfortunate thing is that the orange clown doesn't really understand how tariffs affect both parties in the tariff war and that's a worry.

 

PS. I worked on a couple of BP rigs in the North Sea early in the 70s, Forties Alpha and Bravo, as well as training for the Mobil Beryl platform which I never actually got on. Later worked on the Elf platform construction in the Frigg Field, offshore Norway, and that was a mess and extremely dangerous due to very poor health and safety regulations – – but that's a different story for another time! 

The $3 trillion China hold in foreign reserves is not a weapon, it is a lifevest for China. They need it to maintain their 10.92% inclusion in the IMF special drawing rights basket of currencies. 

Whenever you see China is reducing their foreign reserves, like they did in 2015 when it dropped from $4 to $3 trillion, it is because ordinary Chinese and companies are pulling money out of China, which the central government is doing everything in their power to stop.

 

https://www.imf.org/en/News/Articles/2016/09/30/AM16-PR16440-IMF-Launches-New-SDR-Basket-Including-Chinese-Renminbi

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