Obama v. Chinese at G20 Summit

GHook93

Aristotle
Apr 22, 2007
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Am I about to praise Obama twice in one week? YES!!! Give credit where credit is due.

Its about time someone exposes China's unfair trade practices. Practices, that if American was doing, would get bashed unmercifully for. He called them out and made credtiable threats!

Bravo Mr. President!

FoxNews.com - G-20 Refuses to Back U.S. Push on China's Currency
SOUL, South Korea -- Leaders of 20 major economies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.

At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies -- including President Barack Obama and China's Hu Jintao -- issued a watered-down statement that only said they agreed to refrain from "competitive devaluation" of currencies.

Such a statement is of little consequence since countries usually only devalue their currencies in extreme situations like a severe financial crisis.

The real dispute is over Washington's allegations that Beijing resorts to "competitive undervaluation" -- artificially keeping its currency, the yuan, weak to gain a trade advantage. But the U.S. position itself has been undermined by its own recent
policy of printing money to boost a sluggish economy, which is weakening the dollar.
 
Someone has got to nail that down. It's not only hurting the United States..it's hurting the entire world. If China wants to be a major player..they have to start by acting responsibly.
 
Am I about to praise Obama twice in one week? YES!!! Give credit where credit is due.

Its about time someone exposes China's unfair trade practices. Practices, that if American was doing, would get bashed unmercifully for. He called them out and made credtiable threats!

Bravo Mr. President!

FoxNews.com - G-20 Refuses to Back U.S. Push on China's Currency
SOUL, South Korea -- Leaders of 20 major economies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.

At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies -- including President Barack Obama and China's Hu Jintao -- issued a watered-down statement that only said they agreed to refrain from "competitive devaluation" of currencies.

Such a statement is of little consequence since countries usually only devalue their currencies in extreme situations like a severe financial crisis.

The real dispute is over Washington's allegations that Beijing resorts to "competitive undervaluation" -- artificially keeping its currency, the yuan, weak to gain a trade advantage. But the U.S. position itself has been undermined by its own recent
policy of printing money to boost a sluggish economy, which is weakening the dollar.

and what is it our government announced on Nov 3? Oh yeah, printing more money that weakens the dollar.
 
The rest of the world goes West when America prints more money - Telegraph

The rest of the world goes West when America prints more money
Last Wednesday was a hinge point in history. The United States decided to drop all pretence of being interested in leading – or even being part of – a coordinated global policy response to the most serious economic crisis in more than 70 years.

By Liam Halligan 9:00PM GMT 06 Nov 2010

Comments

America is now isolated and the rest of the world is furious. The widespread use of capital controls and even a lurch into 1930s-style protectionism are both far more likely than just a few days ago.

The Federal Reserve's words may have been anodyne. "We will adjust the programme as needed to best foster maximum employment and price stability," said the US central bank's Open Market Committee. But by announcing another round of "quantitative easing", America is rightfully incurring the wrath not only of the emerging giants of the East, but the eurozone too.

The US had hoped China would use the forthcoming G20 summit in Seoul to accept America's proposal that net exporters should limit their current account surpluses to 4pc of GDP. Any prospect of that is now gone...

Germany also waded in, using industrial-strength language to describe the Fed's latest move. "With all due respect, US policy is clueless," remarked the finance minister, Wolfgang Schäuble.

"It's not that the Americans haven't pumped enough liquidity into the market … for them now to pump even more is not going to solve their problems."

The Fed's plan to expand QE by $600bn (£370bn), on top of the $1,700bn already implemented, caused the diplomatic fur to fly – from Thailand to Australia. An official statement from South Africa, a key member of the G20's powerful emerging market bloc, said America had "undermined the spirit of multilateral co-operation that G20 leaders have fought so hard to maintain".

Up until now, the rest of the world has been willing to tolerate unprecedented money-printing by the US – and the UK for that matter. QE has been used to help various financial institutions avoid facing up to their losses, while covertly recapitalising Western banks that are, to all intents and purposes, insolvent. Money-printing has also pumped up equity prices. After the latest Fed-induced "sugar rush", the FTSE global all-share index hit a two-year high...
 
Europe is afraid that America will get VERY competitive in the world market with a weakened dollar perhaps?

Don't get me wrong a weaken dollar will be bad for American consumers, since prices will go up, but it makes our exports cheaper across the board. Hence strengthening American manufacturing.

Weakening the currency has been China's main strategy for decades. China's wages have well surpassed most of the third world's wage a while ago. Well beyond all of Latin American, most Asia and Africa countries. But keep their currency weak, allowed them to keep their exports strong.

Lastly, when we start listening South Africa- the AIDS, rape, murder, car jacking, baby rape, absolute shit economy (which was squandered after apartheid ended), racist, discriminatory and STILL apartheid country- then we have issues! How the fuck are they a G20 country? Did we need to toss a bone to Africa? Is there really no country better? AMAZING!

The rest of the world goes West when America prints more money - Telegraph

The rest of the world goes West when America prints more money
Last Wednesday was a hinge point in history. The United States decided to drop all pretence of being interested in leading – or even being part of – a coordinated global policy response to the most serious economic crisis in more than 70 years.

By Liam Halligan 9:00PM GMT 06 Nov 2010

Comments

America is now isolated and the rest of the world is furious. The widespread use of capital controls and even a lurch into 1930s-style protectionism are both far more likely than just a few days ago.

The Federal Reserve's words may have been anodyne. "We will adjust the programme as needed to best foster maximum employment and price stability," said the US central bank's Open Market Committee. But by announcing another round of "quantitative easing", America is rightfully incurring the wrath not only of the emerging giants of the East, but the eurozone too.

The US had hoped China would use the forthcoming G20 summit in Seoul to accept America's proposal that net exporters should limit their current account surpluses to 4pc of GDP. Any prospect of that is now gone...

Germany also waded in, using industrial-strength language to describe the Fed's latest move. "With all due respect, US policy is clueless," remarked the finance minister, Wolfgang Schäuble.

"It's not that the Americans haven't pumped enough liquidity into the market … for them now to pump even more is not going to solve their problems."

The Fed's plan to expand QE by $600bn (£370bn), on top of the $1,700bn already implemented, caused the diplomatic fur to fly – from Thailand to Australia. An official statement from South Africa, a key member of the G20's powerful emerging market bloc, said America had "undermined the spirit of multilateral co-operation that G20 leaders have fought so hard to maintain".

Up until now, the rest of the world has been willing to tolerate unprecedented money-printing by the US – and the UK for that matter. QE has been used to help various financial institutions avoid facing up to their losses, while covertly recapitalising Western banks that are, to all intents and purposes, insolvent. Money-printing has also pumped up equity prices. After the latest Fed-induced "sugar rush", the FTSE global all-share index hit a two-year high...
 
Am I about to praise Obama twice in one week? YES!!! Give credit where credit is due.

Its about time someone exposes China's unfair trade practices. Practices, that if American was doing, would get bashed unmercifully for. He called them out and made credtiable threats!

Bravo Mr. President!

FoxNews.com - G-20 Refuses to Back U.S. Push on China's Currency
SOUL, South Korea -- Leaders of 20 major economies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.

At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies -- including President Barack Obama and China's Hu Jintao -- issued a watered-down statement that only said they agreed to refrain from "competitive devaluation" of currencies.

Such a statement is of little consequence since countries usually only devalue their currencies in extreme situations like a severe financial crisis.

The real dispute is over Washington's allegations that Beijing resorts to "competitive undervaluation" -- artificially keeping its currency, the yuan, weak to gain a trade advantage. But the U.S. position itself has been undermined by its own recent
policy of printing money to boost a sluggish economy, which is weakening the dollar.

and what is it our government announced on Nov 3? Oh yeah, printing more money that weakens the dollar.

Apparently China is supposed to do as we say, and not as we do.
 
If any international forum is emblematic of why it is bad for America to have a Weak President who does not believe in traditional American Values, it's the G-20.
 
KK,

Your all about business and free market?

When you biggest customer starts to get mad about shady and back-stabbing business practices THEY VOICE THEM TO YOU! As the seller if you don't listen and keep them up, you lose the customer. They start taking punitive measures against you.

Why should it be any different on global market?

Am I about to praise Obama twice in one week? YES!!! Give credit where credit is due.

Its about time someone exposes China's unfair trade practices. Practices, that if American was doing, would get bashed unmercifully for. He called them out and made credtiable threats!

Bravo Mr. President!

policy of printing money to boost a sluggish economy, which is weakening the dollar.

and what is it our government announced on Nov 3? Oh yeah, printing more money that weakens the dollar.

Apparently China is supposed to do as we say, and not as we do.
 
The wingnut position on this is incoherent.

In wingnut world, devaluing ones' currency helps the economy as demonstrated by China's success. Therefore, the US should NOT help its' economy by devaluing its' currency:cuckoo:
 
KK,

Your all about business and free market?

When you biggest customer starts to get mad about shady and back-stabbing business practices THEY VOICE THEM TO YOU! As the seller if you don't listen and keep them up, you lose the customer. They start taking punitive measures against you.

Why should it be any different on global market?

and what is it our government announced on Nov 3? Oh yeah, printing more money that weakens the dollar.

Apparently China is supposed to do as we say, and not as we do.

And nobody should take them seriously when they're doing the same "shady and back-stabbing business practices." And China would be better off without us.
 
Am I about to praise Obama twice in one week? YES!!! Give credit where credit is due.

Its about time someone exposes China's unfair trade practices. Practices, that if American was doing, would get bashed unmercifully for. He called them out and made credtiable threats!

Bravo Mr. President!

FoxNews.com - G-20 Refuses to Back U.S. Push on China's Currency
SOUL, South Korea -- Leaders of 20 major economies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.

At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies -- including President Barack Obama and China's Hu Jintao -- issued a watered-down statement that only said they agreed to refrain from "competitive devaluation" of currencies.

Such a statement is of little consequence since countries usually only devalue their currencies in extreme situations like a severe financial crisis.

The real dispute is over Washington's allegations that Beijing resorts to "competitive undervaluation" -- artificially keeping its currency, the yuan, weak to gain a trade advantage. But the U.S. position itself has been undermined by its own recent
policy of printing money to boost a sluggish economy, which is weakening the dollar.

and what is it our government announced on Nov 3? Oh yeah, printing more money that weakens the dollar.

Bingo! Imagine us calling out China on it, Obama must not have liked the way China did it...up front and transparent.
 
The wingnut position on this is incoherent.

In wingnut world, devaluing ones' currency helps the economy as demonstrated by China's success. Therefore, the US should NOT help its' economy by devaluing its' currency:cuckoo:

Talk about incoherent :cuckoo: Why would Obama call out China when we are doing it ourselves? China said nothing about the US devaluating the dollar. :cuckoo:
 
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The wingnut position on this is incoherent.

In wingnut world, devaluing ones' currency helps the economy as demonstrated by China's success. Therefore, the US should NOT help its' economy by devaluing its' currency:cuckoo:

Talk about incoherent :cuckoo: Why would Obama call out China when we are doing it ourselves? China said nothing about the US devaluating the dollar. :cuckoo:

I'm not talking about Obama; I'm talking about wingnuts like you who believe

1) Devaluing the currency helps the economy
2) It was wrong for the US to devalue its' currency even though it helps the economy
 
No ally is supporting this President's economic policies. The Chinese have won this one for sure.
 
The wingnut position on this is incoherent.

In wingnut world, devaluing ones' currency helps the economy as demonstrated by China's success. Therefore, the US should NOT help its' economy by devaluing its' currency:cuckoo:

Talk about incoherent :cuckoo: Why would Obama call out China when we are doing it ourselves? China said nothing about the US devaluating the dollar. :cuckoo:

I'm not talking about Obama; I'm talking about wingnuts like you who believe

1) Devaluing the currency helps the economy
2) It was wrong for the US to devalue its' currency even though it helps the economy

:lol: Now you are really proving your incoherent....sonny. Where have I stated that I feel devaluing the currency helps the economy. Or, I felt it was wrong for the US to devalue the currency. Feel free to show one ...just one post where I have stated as such. If you can't, STFU.
 
Talk about incoherent :cuckoo: Why would Obama call out China when we are doing it ourselves? China said nothing about the US devaluating the dollar. :cuckoo:

I'm not talking about Obama; I'm talking about wingnuts like you who believe

1) Devaluing the currency helps the economy
2) It was wrong for the US to devalue its' currency even though it helps the economy

:lol: Now you are really proving your incoherent....sonny. Where have I stated that I feel devaluing the currency helps the economy. Feel free to show one ...just one post where I have stated as such. If you can't, STFU.

If devaluing their currency hasn't helped Chinas' economy, then why should ANYONE call them out on it?
 

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