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Made in America goods only, says US government

Obama is out of his mind. After bashing Indians in regards to outsourcing now after China for goods they make.:tdown:
Does it add really to his popularity votes?? :tdown:

Thats whats I dislike about American politics, create a bloody mess and then blame everyone for it.
 
Gentlemen -

The Americans are actually being lead by a coward govt of Obama.
The world is looking for cheaper products that only China and India can provide.

We are going to be the biggest exporters of good in years to come, no policy and govt can stop it.

Still we shouldnt blame US, coz that is one country which showed the world something called as "Modern civilization". Its a benchmark for all to grow.
 
"Made in America goods only, says US government"

So.....the preacher and forerunner of globalization and free market now wishes to close its doors on the same????If this becomes a reality,then it would be hypocrisy at its best......

BTW,I would be very much eager to know their take on the case of oil from middle-East.Are they going to provide oil to the entire country from the fields of Texas and Alaska only closing its doors on supplies from middle east as well???
 
Originally Posted by pak-marine
"made in America wil only increase the cost of goods "

Absolutely Correct.
How long will they be able to afford it?
 
in 60-70's these same people wanted our market wanted to be opened up.. they were telling us how globalization is very good and all.. because at that time they knew that our domestic company were not competitive an if market would have opened up without some base we would have had to completely depended on them... now since we have competitiveness they are scared... and what they were preaching we will continue to preach them about globalization and how it is good. lets see what will happen...:usflag::pop::azn::yahoo::cheers:
 
America is trying to pursue a protectionist policy, but she doesn't realize that this is not the 19th or the 20th century, this is the age of globalization if she is going to use this "Dont sell me your goods card" then i doubt if other states will not reciprocate the same response. BTW i think American products are overly hyped, for starters I-Phone Stinks especially it's camera, Xbox Doesn't even come close to Play station, Sony is a giant in front of any American electronics company, and as for cars you don't even want to get me started on this :azn: , and Europe is the fashion Hub of the world.
 
A made in USA pen cost four times more than made in china for the same quality..guess where are we going with such dynamic.
 
"Made in America goods only, says US government"

So.....the preacher and forerunner of globalization and free market now wishes to close its doors on the same????If this becomes a reality,then it would be hypocrisy at its best......

BTW,I would be very much eager to know their take on the case of oil from middle-East.Are they going to provide oil to the entire country from the fields of Texas and Alaska only closing its doors on supplies from middle east as well???

No they want to save their own resources for the future. Like how U.S is blasting China for too much exports to the U.S and when China move to control REE exports (which, by the way, U.S has ample in their soil if they only mine them) they're out there protesting.
 
BTW, I think the figure is over 50% of all Chinese exports to the U.S are from factories owned by American companies. And of course almost all of them are sold in American-owned retail chains. So the trade actually benefits corporate America far more than it benefits China.

So expect both big American brands and retailers to lobby the U.S congress against any major protectionist bill against China. Oh, any expect American agriculture sector to fight against such bills as well, since China is importing a lot of U.S agriculture products. I think U.S soybean and meat producers are already doing that.
 
Purchases set to ease trade frictions between China and US - People's Daily Online September 16, 2010

Chinese trade delegations, visiting or set to visit the United States to purchase goods and services, will help strengthen economic ties between the two countries, the Ministry of Commerce said on Wednesday on the eve of a US congressional hearing about trade relations with China.

Ministry spokesman Yao Jian said one delegation headed by Vice-Minister of Commerce Wang Chao and comprising almost 50 business leaders, left Beijing for the US on Tuesday.

They will seek trade and investment opportunities in such areas as energy and technology. Two more delegations will fly to the US by the end of this year, Yao said.

The announcement came less than 24 hours ahead of a hearing by the US House Committee on Ways and Means that aims to pressurize China to increase the value of its currency. Some US critics said an "undervalued" yuan was a major cause of the US trade deficit with China.

However, the Ministry of Commerce said the accusation did not make any sense and urged the US not to politicize economic issues.

"China does not want to see a few US politicians blame China's trade, especially currency policies, just for their own political need to win the upcoming US midterm elections," Yao added.

The US congressional elections will be held in November and with a high unemployment rate and slow economic recovery some politicians have blamed China and its currency policies to win more votes.

US Treasury Secretary Timothy Geithner told the Wall Street Journal on Sept 10 that China had made "very, very little" progress on letting the exchange rate reflect market forces and he was not satisfied with China's progress on the yuan. He is scheduled to present the Obama administration's latest view on China's foreign exchange rate on Friday.

However, Li Daokui, adviser for the People's Bank of China, said on Wednesday he does not see the conditions for a large appreciation of the yuan because China's trade surplus is already shrinking.

Speaking at the Summer Davos in Tianjin, Li also said the flexibility of the yuan's exchange rate has increased and China will adjust its currency value according to its own needs.

China accelerated the foreign exchange rate reform in June to allow more yuan flexibility against a basket of currencies. During the past three months the yuan has risen 1.5 percent, and in the past four trading days it has gained 0.5 percent against the US dollar.

Yao said China's trade surplus with the US "only reflects part of the economic relations and the two economies are highly complementary to each other".

China is now the third largest export market for the US and during the first seven months of this year US exports to China surged by 36.2 percent year-on-year, 15 percentage points higher than that for its imports from China during the same period, the Ministry of Commerce said.

The US call for yuan revaluation will only bring them "political benefits, rather than create more jobs as promised", American economists and business groups have said.

The focus of the two-day hearings of the House Ways and Means Committee is to classify an undervalued currency as an illegal subsidy and thus allow protectionist measures against the supposed subsidy in the form of countervailing duties (CVD) or something similar. But, "this ostensible logic fails at every step", said Derek Scissors, an economist with the Asian Studies Center at The Heritage Foundation.

He said undervaluation is not a factor in the US trade deficit with China and there is very little evidence the yuan's exchange rate costs the US a large number of jobs.

"The immediate problem with such a proposal is that even the loudest proponents of CVD cannot determine the exact amount of undervaluation of the yuan and therefore cannot properly set the size of CVD in this case," Scissors said.

Philip Levy, resident scholar at the American Enterprise Institute for Public Policy Research, agreed that the trade deficit with China is "not the driving force" of US unemployment and the currency issue has "no economic meaning but has a lot of political significance".

Linda Menghetti, vice-president of the Emergency Committee for American Trade, said she opposed the Congress committee's action on behalf of business leaders in the manufacturing, financial, processing, merchandising, and publishing sectors. Many US legislators are pushing for a vote on a China currency bill.

"Congress passing such legislation will turn the world's eyes to the US as a unilateralist in the picture and all the attention we are trying to get multilaterally on China will evaporate to some extent," she said.

"China is ...the only market on which we can depend to help us double exports," she said. "It (any legislation) will take the oxygen out of the US-China commercial relationship."

Tan Yingzi reported from Washington. Xin Zhiming in Beijing contributed to this story
 
I always wonder how the Indians and Chinese react to US protectionism. With "Dirty Float" of Rupee and "Artificial Peg" of Renmibi, both are far from perfect to preach any "Free Market" gospels to US.
 
I always wonder how the Indians and Chinese react to US protectionism. With "Dirty Float" of Rupee and "Artificial Peg" of Renmibi, both are far from perfect to preach any "Free Market" gospels to US.

Don't make me break out the laundry list of American economic dirty deeds...
 
BTW, I think the figure is over 50% of all Chinese exports to the U.S are from factories owned by American companies. And of course almost all of them are sold in American-owned retail chains. So the trade actually benefits corporate America far more than it benefits China.

So expect both big American brands and retailers to lobby the U.S congress against any major protectionist bill against China. Oh, any expect American agriculture sector to fight against such bills as well, since China is importing a lot of U.S agriculture products. I think U.S soybean and meat producers are already doing that.

Almost no multinational US company owns a single factory anywhere. It is much cheaper to contract manufacturing out to companies that dedicate themselves to it, rather than build an entire supply chain from the ground up and paying for all.

富士康 for example, is contract manufacturer for apple, but it is not owned by apple, it is owned by 鸿海精密。
 

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