70% of Chinese Say They Are Better Off Now

Discussion in 'Asia' started by longknife, Oct 19, 2012.

  1. longknife
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    longknife Platinum Member

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    http://cdn.breitbart.com/mediaserve...012/Obamas/obama-bobblehead-china-reuters.jpg
    Polls decisively show that Americans say they are not better off now than they were four years ago. The same, however, cannot be said for Chinese citizens. A recent poll by the Pew Research Center finds that 70% of Chinese people say their finances are better off now than they were five years ago.

    Indeed, the Obama years have been a boon to China economically. Specifically, China has benefited from President Obama’s weakness on leveling the trade deficit and cracking down on Chinese currency manipulation.

    First, Mr. Obama has failed to make good on his promises to equalize the Chinese-American trade deficit. Chinese exports to America are up and climbing. In September, Chinese exports leapt another 5.5% from the previous year. Why does that matter? Jobs. From 2001 to 2011, America's trade deficit with China killed or displaced over 2.7 million U.S. jobs, 76.9 percent of which came from manufacturing. And 662,100 of those jobs were lost from 2008 to 2011—even though Chinese imports dropped when Mr. Obama entered office in 2009.

    Second, Obama has failed to crack down on Chinese currency manipulation. By artificially lowering the value of its currency, Chinese companies bidding on projects can quote lower prices than their American competitors. That means fewer jobs for the U.S. and more outsourcing to China.

    According to the Peterson Institute for International Economics, even a revaluation of Chinese currency that’s less than half of its fair market rate would translate into 300,000 to 700,000 American jobs in two to three years. By some estimates, the current trade deficit costs 1 percent of GDP growth every year. That’s a loss of nearly 1 million jobs annually. Even leftist New York Times columnist Paul Krugman has reluctantly conceded the indefensibility of not cracking down on Chinese currency manipulation. “In normal times,” wrote Mr. Krugman, “I’d be among the first people to reject claims that China is stealing other people’s jobs, but right now it’s the simple truth… Something must be done about China’s currency.”

    In the second presidential debate, Mr. Romney said that “On Day 1, I will label China a currency manipulator, which will allow me as president to be able to put in place, if necessary, tariffs where I believe that they are taking unfair advantage of our manufacturers.”

    Historically, a strong stance on Chinese currency manipulation followed by rigorous pressure works. From 2005 to 2008, President George W. Bush’s Administration took a hard line against China’s undervalued currency and saw the value of the yuan jump 21% over the three year period. Mr. Obama’s record since his first day in office? The yuan has risen just 8.5% in value.

    Americans may not be better off economically than they were four years ago, but China is.

    From 70% of Chinese Say They Are Better Off Now

    :eusa_whistle::eusa_whistle:
     
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  2. Two Thumbs
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    Two Thumbs Platinum Member

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    No one gives a damn what the chinese government told it's people to say.
     
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  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    New boss in China...
    :eusa_eh:
    China confirms leadership change
    15 November 2012 - As Xi Jinping walked out to be presented as China's new leader, one thing was immediately clear to all of us waiting in the Great Hall of the People. His will be a different style of leadership from that of his predecessor Hu Jintao.
    See also:

    U.S. to China: Let's talk about your nukes
    November 14th, 2012 - China is modernizing its military at a "remarkable rate," including its own nuclear weapons capability, says a congressionally mandated panel exploring the relationship between the United States and China.
     
    Last edited: Nov 15, 2012
  4. gazpatmore
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    gazpatmore Rookie

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    Not hard to do when your starting from nearly nothing. Anything more than nothing is an improvement
     
  5. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Of course they're better off, they got most of our jobs now. That's called "Free Trade". Suckers! :lol:

    You think Americans will ever figger out it was their own Gov't that did this? You think Americans will rise up and demand accountability?

    Nope, neither do I. The Domesticated and Dumbed Down Americans only get upset and fight over Black Friday deals at WalMart.
     
  6. Katzndogz
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    Katzndogz Diamond Member

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    The Chinese became better off when China started moving away from communism to capitalism. We are worse off because we are transitioning from capitalism to communism.
     
  7. gazpatmore
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    gazpatmore Rookie

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    Depends on how you define "better off" though. If its in terms of money, how long with that "better off" state last for? Look at the Greeks, the Romans, the Ottomans and more recently we British. How long did our empires last for? World domination, economically or politically, cant go on forever...people get pissed off and fight back, and then the cycle starts all over again.

    And I dont think the Chinese are THAT much better off. I was in Hong Kong a few years ago and I tell you what, money cant buy class or respect.
     
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  8. Unkotare
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    Unkotare Diamond Member

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    Hundreds of millions are.
     
  9. gazpatmore
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    gazpatmore Rookie

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    Financially, maybe. Morally, maybe not.
     
  10. Unkotare
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    Unkotare Diamond Member

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    Every step away from Communism is morally better off.
     

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