U.S. officials crafting retaliatory actions against China over coronavirus

[F-22Raptor]

https://twitter.com/x/status/1255973240809361411

 

[ARMalik]

Senior U.S. officials are beginning to explore proposals for punishing or demanding financial compensation from China for its handling of the coronaviruspandemic, according to four senior administration officials with knowledge of internal planning.

The move could splinter already strained relations between the two superpowers at a perilous moment for the global economy.

https://www.washingtonpost.com/business/2020/04/30/trump-china-coronavirus-retaliation/

A very sad day. The once mighty US empire is financially broke to the point that it wants to default on its loan obligations. We are living in some very interesting time in history which I thought I would never see. But looks like we are seeing the demise of the US and the emergence of a new world order. Once powerful empire with superiority in manufacturing, agriculture, science and technology has been slowly sucked to death of its Resources and its Greatness by the a handful of pranksters and frauds, and we all KNOW who these pranksters are, who through out history have done the exact same thing to a lot of other Empires.

 

[Beast]

If Trump wants war with China. Steve Banno wouldn't be sack in the first place. This are just some diversion from current crisis. War is the last thing US ever wants with China.

 

[riscol]

If US is afraid to start a war with North Korea, Iran and did nothing on Ukraine, Georgia, South China Sea. What are the chances it will skip these countries and go straight after China? It is entirely a different type of class opponent we are talking about. US would be facing a beast.

 

[MastanKhan]

How is the pandemic in the US? flattening and dropping ?

Hi,

Nothing certain yet---public is raring to come out---. Some places they have come out in large numbers---. We will see what happens in the next couple of weeks---.

 

[FairAndUnbiased]

Defaulting on Chinese debt is indeed an out of box innovative and good idea.

https://constitution.congress.gov/browse/essay/amdt14_S4_1_1/

It is literally unconstitutional for the US to default on its debt.

 

[PakFactor]

https://constitution.congress.gov/browse/essay/amdt14_S4_1_1/

It is literally unconstitutional for the US to default on its debt.

laws can be changed with act of congress

 

[FairAndUnbiased]

laws can be changed with act of congress

the constitution cannot be changed except through an amendment process: https://www.lexisnexis.com/constitution/amendments_howitsdone.asp

 

[Yaseen1]

in coming years much more new pandemics are expected to occur and their origin may be out of china so such actions cannot be justified

 

[Mk-313]

Defaulting on Chinese debt is indeed an out of box innovative and good idea.

No its not and no way america is gonna do it. If US went ahead and defaulted the treasuries will go down tomorrow no nation/investor/companies is gona buy US debt if it has been established that they could default. and No, not even china gonna dump its holding of treasuries, doing so would start devaluing the dollar against the Yuan and chinese exports will become expensive to the fact that other 3rd world countries will look more favorable.

China doesnt buy US debt because its some generous country or US asks for it. whenever there is a trade balance deficit between the US and china, (china exporting more vs imports with the US). the dollar starts losing value and yuan becomes more expensive and hence more expensive their labor. the way chinese counter is by start buying US treasuries and artificially increase the demand of the dollar and keep the value of the USD up and yuan down making their export extremely favorable vs other coutnries and keeping other manufacturing countries even a chance to compete. its how china became the manufacturing hub of the world

China and US are intertwined with each other. without one the other could not survive.

https://constitution.congress.gov/browse/essay/amdt14_S4_1_1/

It is literally unconstitutional for the US to default on its debt.

its not US govt has been bankrupt 4 times in his history. ts why they created the federal reserve to keep government from doing stupid things and not going going bankrupt

 

[FairAndUnbiased]

No its not and no way america is gonna do it. If US went ahead and defaulted the treasuries will go down tomorrow no nation/investor/companies is gona buy US debt if it has been established that they could default. and No, not even china gonna dump its holding of treasuries, doing so would start devaluing the dollar against the Yuan and chinese exports will become expensive to the fact that other 3rd world countries will look more favorable.

China doesnt buy US debt because its some generous country or US asks for it. whenever there is a trade balance deficit between the US and china, (china exporting more vs imports with the US). the dollar starts losing value and yuan becomes more expensive and hence more expensive their labor. the way chinese counter is by start buying US treasuries and artificially increase the demand of the dollar and keep the value of the USD up and yuan down making their export extremely favorable vs other coutnries and keeping other manufacturing countries even a chance to compete. its how china became the manufacturing hub of the world

China and US are intertwined with each other. without one the other could not survive.

the other is constant innovation. this may seem obvious, but it should be said: Chinese businesses engage in manufacturing to make money, not for the sake of manufacturing. if it did not increase wages and profits, there would be no point in manufacturing.

No its not and no way america is gonna do it. If US went ahead and defaulted the treasuries will go down tomorrow no nation/investor/companies is gona buy US debt if it has been established that they could default. and No, not even china gonna dump its holding of treasuries, doing so would start devaluing the dollar against the Yuan and chinese exports will become expensive to the fact that other 3rd world countries will look more favorable.

China doesnt buy US debt because its some generous country or US asks for it. whenever there is a trade balance deficit between the US and china, (china exporting more vs imports with the US). the dollar starts losing value and yuan becomes more expensive and hence more expensive their labor. the way chinese counter is by start buying US treasuries and artificially increase the demand of the dollar and keep the value of the USD up and yuan down making their export extremely favorable vs other coutnries and keeping other manufacturing countries even a chance to compete. its how china became the manufacturing hub of the world

China and US are intertwined with each other. without one the other could not survive.



its not US govt has been bankrupt 4 times in his history

US government seems to have defaulted only once, temporarily.

https://www.forbes.com/sites/beltwa...ted-states-has-defaulted-before/#984b1e360219

What were the other times?

 

[Mk-313]

the other is constant innovation. this may seem obvious, but it should be said: Chinese businesses engage in manufacturing to make money, not for the sake of manufacturing. if it did not increase wages and profits, there would be no point in manufacturing.

yes that is implied. but on a broader scale you have to think about the communist party. how does the communist party stay in power? by ensuring that their people have jobs. the more china can exports means the more jobs it can give its people. more factories can be open and the population stays fed/ lively hood remains.

the other is constant innovation. this may seem obvious, but it should be said: Chinese businesses engage in manufacturing to make money, not for the sake of manufacturing. if it did not increase wages and profits, there would be no point in manufacturing.



US government seems to have defaulted only once, temporarily.

https://www.forbes.com/sites/beltwa...ted-states-has-defaulted-before/#984b1e360219

What were the other times?

dont quote me here but i studied in the my govt class at Univeristy.
1st time was during war of independence they couldnt pay
2nd time was spanish american war or mexico
3rd i believe during great depression
4th was close to vietnam when US got rid of the gold standard

 

[FairAndUnbiased]

yes that is implied. but on a broader scale you have to think about the communist party. how does the communist party stay in power? by ensuring that their people have jobs. the more china can exports means the more jobs it can give its people. more factories can be open and the population stays fed/ lively hood remains.

I don't think the CCP cares about jobs. There is no mandate for CCP to create jobs - if it just gives people money for free, that's OK too. Indeed, it would be perfectly in line with the party charter for everything to be automated and for people to just get paid free money. As of now, there are enough jobs to go around, but if there aren't - the government can just increase taxes and redistribute money without ideological opposition.

This is in stark contrast to the US where jobs are a core part of someone's identity and free money is ideologically unacceptable to the Republican Party and large parts of the Democratic Party. Note how Andrew Yang's UBI was ridiculed and Bernie's federal jobs guarantee was favored. Even when US has the capability to just give free money to people, the people do not want to accept it.

As an example of how China does not care about jobs and would rather just automate, here's a look at how warehouses are run in China: total automation, 4 employees.

Meanwhile 4000 workers are required per Amazon facility.

Here's how BYD makes masks. Note the full automation of steps in a roll to roll process. 5 million masks per day.

Here's how GM makes masks. Note several bottlenecks limited by workers such as strap stapling and packing. 20k (0.02 million) masks per day.

 

[PakFactor]

yes that is implied. but on a broader scale you have to think about the communist party. how does the communist party stay in power? by ensuring that their people have jobs. the more china can exports means the more jobs it can give its people. more factories can be open and the population stays fed/ lively hood remains.



dont quote me here but i studied in the my govt class at Univeristy.
1st time was during war of independence they couldnt pay
2nd time was spanish american war or mexico
3rd i believe during great depression
4th was close to vietnam when US got rid of the gold standard

No US never defaulted, however, in 1979 Congress didn’t increase debt ceiling and the treasury failure to redeem T-Bills due to some other issues. While it was a default investors were however made whole again.

 

[Mk-313]

No US never defaulted, however, in 1979 Congress didn’t increase debt ceiling and the treasury failure to redeem T-Bills due to some other issues. While it was a default investors were however made whole again.

Yes they have trust me i studied History in US about US

1st time American revolution - US couldnt pay France for the artillery/ military equipment to fight british
https://history.state.gov/milestones/1784-1800/loans

2nd time - war of 1812 . US defaulted on treasuries
http://www.bandyheritagecenter.org/Content/Uploads/Bandy Heritage Center/files/1812/Financing the War of 1812.pdf

the rest are fairly recent u can look them up. the concept of debt ceiling came US learned from its mistakes