US Congress committee approves China sanctions bill

[CardSharp]

Leta go back to ground zero---We had those manufacturing jobs in current situation---We would still survive, no?---This idea might not fit your walls because we have not tried it--We are used to live in a situation and perceive things accordingly.

I have seen the wool industry getting disappeared in Toronto--Jobs lost--not one or two---many jobs---

So if you'd had it your way, we'd still be protecting beaver trapping jobs. Your views on economics and trade is absolute none-sense. I really can recommend some good online econ courses if you are interested.

 

[Chinese-Dragon]

Leta go back to ground zero---We had those manufacturing jobs in current situation---We would still survive, no?---This idea might not fit your walls because we have not tried it--We are used to live in a situation and perceive things accordingly.

Where would the money come from though, to subsidise domestic manufacturing, and to increase the minimum wage?

Most governments nowadays are running out of money, they are cutting everything to save cash. The world has just had a recession, there is no spare money lying around.

Where will they find the extra hundreds of billions of dollars needed to raise the minimum wage and restart the manufacturing sector? And how will it compete with overseas production in terms of cost?

 

[SekrutYakhni]

So if you'd had it your way, we'd still be protecting beaver trapping jobs. Your views on economics and trade is absolute none-sense. I really can recommend some good online econ courses if you are interested.

Okay sir, you can take it.
Recommend the books.

 

[gpit]

Timothy Geithner (the US Secretary of Treasury) studied at Peking University, and Beijing Normal University. He can also speak Mandarin.

I wonder if that is one of the reasons that he refuses to take a hard stance on China regarding currency issues...

In fact, many learned scholars in US already know that sanction would solve US deficit problem as other countries may quickly fill the vacuum that China left.

In addition, US companies in China are also among the biggest losers, as they can't use China's cheap but well educated labors.

Looks like the sanction is to harm others without benefiting oneself.

 

[CardSharp]

Okay sir, you can take it.
Recommend the books.

PM has been sent.

 

[SekrutYakhni]

PM has been sent.

Got it sir. Bang the U.S. with your might!!!

 

[Chinese-Dragon]

In fact, many learned scholars in US already know that sanction would solve US deficit problem as other countries may quickly fill the vacuum that China left.

In addition, US companies in China are also among the biggest losers, as they can't use China's cheap but well educated labors.

Looks like the sanction is to harm others without benefiting oneself.

The US government knows that it won't help their economy, as you said it will hurt US businesses, and people will just import from other countries to fill the vacuum. Not to mention it will raise the prices of goods in the USA which will make the people angry.

The reason they are pushing this is because it will give the US government more political capital for the November elections.

So it's not really something to be worried about, it's just political.

 

[SekrutYakhni]

The US government knows that it won't help their economy, as you said it will hurt US businesses, and people will import from other countries to fill the vacuum.

The reason they are pushing this is because it will give the US government more political capital for the November elections.

Sir, I think the coin has two sides. One is a political reason and the other---your take.

 

[gpit]

I need coal--Yeah, get it from China--However, the processing of that coal etc should be done in Canada--no matter what the cost is--increase the minimum wage--step up the economic system--I need wood--Yes, get from China---However, the process should be done in Canada--Not like IKEA---ETC

I perhaps read all your posts upto here, friend. And I understand your concern.

However, if there is a piece of coal made in Canada that costs $5 due to higher salary and benefits; and there is a same (or extremely similar) coal made in China that only costs $2. Now imagine we put the two pieces on market, the economic law will normally cause people rush for $2 one, if the market is transparent and free.

This is the dilemma that faces those in developed country. Thus, I guess, the solution is for the advanced countries to move to higher end via education and training for the labor forces, not to compete in the field such as cloths and shoes.

 

[SekrutYakhni]

PM has been sent.

Sir, it is completely off topic but it has an indirect relation with this topic in general i.e. protectionist.

Pakistan and the U.S. cannot be compared due to different reasons--some of them are--diverse culture, economic and political model, foreign influence, demographics etc

Take this example into account:

Pakistan get a better leadership--economic reforms etc--We start to import goods from China like the U.S. but in low numbers--What about the local manufacturing capabilities and jobs associated to it? As many Pakistanis depend on manufacturing industry--

How will we cover up the lost jobs?

 

[fallstuff]

Leta go back to ground zero---We had those manufacturing jobs in current situation---We would still survive, no?---This idea might not fit your walls because we have not tried it--We are used to live in a situation and perceive things accordingly.

---------- Post added at 08:09 AM ---------- Previous post was at 08:08 AM ----------



I have seen the wool industry getting disappeared in Toronto--Jobs lost--not one or two---many jobs---

The software industry is at a point where if you do not have low cost offshore operations , you wiil be priced out of the market. These days you don't have a choice but outsource.

 

[Chinese-Dragon]

Take this example into account:

Pakistan get a better leadership--economic reforms etc--We start to import goods from China like the U.S. but in low numbers--What about the local manufacturing capabilities and jobs associated to it? As many Pakistanis depend on manufacturing industry--

How will we cover up the lost jobs?

Developing countries can often be protectionist if they think it's necessary, to protect their fledgling industries from outside competition. They will have to bear a cost burden for that though.

So the choice is either to avoid competing directly (by specializing in something different), or to take protectionist measures. The other option is to just compete directly, by finding your strengths and building on those. All these options have their ups and downs.

At the end of the day though, everyone needs to compete to survive.

 

[CardSharp]

Sir, it is completely off topic but it has an indirect relation with this topic in general i.e. protectionist.

Pakistan and the U.S. cannot be compared due to different reasons--some of them are--diverse culture, economic and political model, foreign influence, demographics etc

Take this example into account:

Pakistan get a better leadership--economic reforms etc--We start to import goods from China like the U.S. but in low numbers--What about the local manufacturing capabilities and jobs associated to it? As many Pakistanis depend on manufacturing industry--

How will we cover up the lost jobs?

No one is recommending Pakistan replace indigenously produced goods with Chinese made goods. What do you mean "economic reforms" in the scenario you cited?

 

[gpit]

The US government knows that it won't help their economy, as you said it will hurt US businesses, and people will just import from other countries to fill the vacuum. Not to mention it will raise the prices of goods in the USA which will make the people angry.

The reason they are pushing this is because it will give the US government more political capital for the November elections.

So it's not really something to be worried about, it's just political.

Rightly said. Unfortunately politicians here are eagerer for ideological purity than to worry the future of this country, by launching one crusade after another.

Chinese government seems to have largely put aside ideological campaign and concentrates on development...

 

[SekrutYakhni]

I perhaps read all your posts upto here, friend. And I understand your concern.

However, if there is a piece of coal made in Canada that costs $5 due to higher salary and benefits; and there is a same (or extremely similar) coal made in China that only costs $2. Now imagine we put the two pieces on market, the economic law will normally cause people rush for $2 one, if the market is transparent and free.

This is the dilemma that faces those in developed country. Thus, I guess, the solution is for the advanced countries to move to higher end via education and training for the labor forces, not to compete in the field such as cloths and shoes.

Sir you are absolutely right. I also read a newspaper article today which supports your idea. However, with the minimum wage increase and a new economic model with laws governing local manufacturing, we will see a substantial improvement in employment sector.

A mix of consumer, manufacturing and service based economy will help us. Some right wing lunatics agree with this idea...