China escalates the trade war

[Mac-7]

The modern version of this protectionist philosophy is called neomercantilism. It employs modern tools, such as trade restrictions, subsidies, and tariffs, to protect domestic industries and promote exports. Neomercantilism is a direct rejection of free-market principles, not an outcome of them. .

America is not practicing neomercantilism but china is

 

[Mac-7]

You mean Richard Nixon, Henry Kissinger, Ronald Reagan, George H.W. Bush, and all of the major US manufacturers that moved operations there to try and kill American labor unions?

How's that propped up Chinese economy strategy working out for you?

Its not working out well at all

Nixon and Kissinger are not to blame for our situation today

Deescalating tensions with communist china in 1970 was not a bad idea

And trade with china was not a problem as long as the WWII generation was in charge

We went wrong after the Baby Boomers took over the government

Which began in the mid 1990s

 

[Dorian Mode]

America is not practicing neomercantilism but china is

America is not practicing neomercantilism but china is

America is trying to impose neo-financialization on the world and the world is not going for it. Remember, he who controls the money controls the world. The world does not want America to be its banker anymore and is working behind the scenes, led by China and Russia, to kill the US Dollar and create an alternative currency that doesn't enslave the world to America. This is what is currently at the center of geopolitics at the moment.

 

[Mac-7]

America is trying to impose neo-financialization on the world and the world is not going for it. Remember, he who controls the money controls the world. The world does not want America to be its banker anymore and is working behind the scenes, led by China and Russia, to kill the US Dollar and create an alternative currency that doesn't enslave the world to America. This is what is currently at the center of geopolitics at the moment.

Huh?

Neo what?

The world is enjoying trade surpluses with the US

Which is sucking our wealth away to other nations

Most of whom are hostile to one degree or another

We are not imposing anything on the world except fair trade practices that involve this country

 

[Dorian Mode]

Huh?

Neo what?

The world is enjoying trade surpluses with the US

Which is sucking our wealth away to other nations

Most of whom are hostile to one degree or another

We are not imposing anything on the world except fair trade practices that involve this country

This is 100% true, but if they are using the US Dollar to conduct trade it benefits those who manage the dollar. Therefore, America imports goods and exports dollars. The US financial industry gets rich doing this, most other sectors get poorer. Look back at the last 30 years and ask who has benefitted the most? The Financial Industry. For more info, do a search on "Financialization of the US economy." Now America is trying to financialize the global economy and is getting a lot of resistance.

 

[Mac-7]

This is 100% true, but if they are using the US Dollar to conduct trade it benefits those who manage the dollar. Therefore, America imports goods and exports dollars. The US financial industry gets rich doing this, most other sectors get poorer. Look back at the last 30 years and ask who has benefitted the most? The Financial Industry. For more info, do a search on "Financialization of the US economy." Now America is trying to financialize the global economy and is getting a lot of resistance.

Its not as complicated as you make it sound

The impression you give is that America is forcing other countries to make money against their will

The trade deficit sends US wealth to other countries

That make them richer and America poorer

 

[Dorian Mode]

Its not as complicated as you make it sound

The impression you give is that America is forcing other countries to make money against their will

The trade deficit sends US wealth to other countries

That make them richer and America poorer

No, it is rather simple. China uses natural resources and labor to produce a toaster. It then sells that toaster to America and America gives China US Dollars that it can essentially create out of nothing as debt. China creates toasters and America creates dollars in the financial system and they trade toasters for US Dollars. China can then use those dollars to create more toasters to sell to the rest of the world, but the US Dollar is the global reserve currency around the world and most international commerce is done in US Dollars. In essence, America gets a lot of physical stuff and all it has to do is continue printing US Dollars, which are created out of nothing as debt. This is what hollowed out US manufacturing and made Finance the predominant industry in America. It is true, the other countries are getting richer by actually manufacturing stuff and creating more sustainable economies, but America has always been held hostage by the banking trust and they only want what is best for the bankers, not the country. The bankers get the profits and the people get the debt created in the system. Sad but true.

 

[Mac-7]

No, it is rather simple. China uses natural resources and labor to produce a toaster. It then sells that toaster to America and America gives China US Dollars that it can essentially create out of nothing as debt. China creates toasters and America creates dollars in the financial system and they trade toasters for US Dollars. China can then use those dollars to create more toasters to sell to the rest of the world, but the US Dollar is the global reserve currency around the world and most international commerce is done in US Dollars. In essence, America gets a lot of physical stuff and all it has to do is continue printing US Dollars, which are created out of nothing as debt. This is what hollowed out US manufacturing and made Finance the predominant industry in America. It is true, the other countries are getting richer by actually manufacturing stuff and creating more sustainable economies, but America has always been held hostage by the banking trust and they only want what is best for the bankers, not the country. The bankers get the profits and the people get the debt created in the system. Sad but true.

Ate you claiming that the toasters have value but the US dollars are worthless?

I sure hope not

US dollars built china into the glittery nation and huge military nation it is today

 

[Dorian Mode]

Ate you claiming that the toasters have value but the US dollars are worthless?

I sure hope not

US dollars built china into the glittery nation and huge military nation it is today

Of course the US Dollar has value. There are always two sides to every transaction. What I am saying is it costs money to build toasters but it doesn't cost much money at all to just print US Dollars. Yet they are of equal value. Therefore, it makes sense to just print US Dollars to buy Chinese iJunk. America basically gets a free lunch. On the surface this seems simple and beneficial to the US, but the monetary system creates almost all money out of debt. I think a lot of people don't understand this. Almost all money is created as debt. All debt has interest to be paid. So, when we create dollars to buy iJunk, we actually go into debt for it. We get stuff for the cost of printed money and we can kick the debt down the road to the next generation. Of course, this is a gross oversimplification. My overall point is that we have financialized the economy because money can be made from money, not actually producing stuff. That is what creates the trade imbalances. That is what gutted the American economy.

 

[Mac-7]

Of course the US Dollar has value. There are always two sides to every transaction. What I am saying is it costs money to build toasters but it doesn't cost much money at all to just print US Dollars.

Consumers have to do something productive to earn the dollars they spend for the toaster

So the dollar isnt free either

And buying toasters from china instead of making them here is detrimental to our economy

 

[Dorian Mode]

Consumers have to do something productive to earn the dollars they spend for the toaster

So the dollar isnt free either

And buying toasters from china instead of making them here is detrimental to our economy

Money is only "free" to those who can initially create money as a debt. From that point on the money is traded. People trade their labor for money. But eventually the debt must be repaid. I have always been skeptical of globalization and financialization ever since my MBA days, probably because I learned that it will destroy the middle class and the manufacturing sector. It is especially dangerous to the US as it makes America dependent on the rest of the world for its manufactured goods. Now the world wants to ween itself from the US Dollar as the global reserve currency and America will no longer get its free lunch and will eventually have to pay off the massive debt it accumulated. It's a mess and everyone keeps kicking the can down the road hoping that mess becomes someone else's mess. To make a very long and complicated story short, those who thought financializing the economy and offshoring manufacturing made a massive mistake that realistically cannot be undone at this point.

 

[sealybobo]

Because politicians and industry leaders in the West failed to protect their nations vital interests China now has us at s disadvantage

We no long produce the necessary products needed to keep our country running thanks to globalist morons wjo sold America and our allies out

Hey you dumb ******* Republicans. Did you not think China would fight back?

Treasury Secretary Scott Bessent accused China of trying to weaken the global economy by slapping export controls on resources vital for technology.

WAAAAH. I would think the GLOBAL ECONOMY would say the same thing about Trump and his tariffs.

“If they want to slow down the global economy, they will be hurt the most,” he said in an interview with the Financial Times.

Will they be hurt the most??? How much pain are USMB Republicans willing to put up with to win the war?

Could they be doing this because Trump started it?

Oct. 9 Beijing said it won’t allow the export of rare earths materials for military use, the first time it has targeted that specific use.

Could this be because Trump and Pete changed the DOJ to the DOW?

Trump has responded with 100% tariffs on Chinese goods starting Nov. 1 and has threatened to cancel the meeting with Xi. Markets have been volatile since the dispute escalated, with Wall Street stock averages down sharply to start the day Tuesday.

“They are in the middle of a recession/depression, and they are trying to export their way out of it. The problem is they’re exacerbating their standing in the world,” Bessent told the FT.

Let's see if Trump is right about this like he has been right about everything else. LOL.

 

[Mac-7]

Hey you dumb ******* Republicans. Did you not think China would fight back?

Treasury Secretary Scott Bessent accused China of trying to weaken the global economy by slapping export controls on resources vital for technology.

WAAAAH. I would think the GLOBAL ECONOMY would say the same thing about Trump and his tariffs.

“If they want to slow down the global economy, they will be hurt the most,” he said in an interview with the Financial Times.

Will they be hurt the most??? How much pain are USMB Republicans willing to put up with to win the war?

Could they be doing this because Trump started it?

Oct. 9 Beijing said it won’t allow the export of rare earths materials for military use, the first time it has targeted that specific use.

Could this be because Trump and Pete changed the DOJ to the DOW?

Trump has responded with 100% tariffs on Chinese goods starting Nov. 1 and has threatened to cancel the meeting with Xi. Markets have been volatile since the dispute escalated, with Wall Street stock averages down sharply to start the day Tuesday.

“They are in the middle of a recession/depression, and they are trying to export their way out of it. The problem is they’re exacerbating their standing in the world,” Bessent told the FT.

Let's see if Trump is right about this like he has been right about everything else. LOL.

So, what is your solution?

More dependence on our biggest enemy and the gradual strangling of our economy?

I sense that china is in deep social and economic trouble herself and is throwing a Hail Mary at trump

And it works since libs like you accept everything the chicoms say at face value

 

[sealybobo]

So, what is your solution?

More dependence on our biggest enemy and the gradual strangling of our economy?

I sense that china is in deep social and economic trouble herself and is throwing a Hail Mary at trump

And it works since libs like you accept everything the chicoms say at face value

Oh no. If I were POTUS I would have been much more strategic/smart about taking on China. I certainly wouldn't have waged a trade war with them.

And if I did, I certainly wouldn't have waged war with all our other trading partners. Literally drive them into China's arms. Japan and China hate each other but do you know who they hate worse? Trump.

I sense that China could go back to the stone ages and still be just fine. Their citizens have no opinion. No say. That's the trade off. If you want $3 a pack cigarettes you shut the **** up and do what the government says.

And btw, if Trump wants the rest of the world to stop buying from China and Russia, he needs to stop being suck a big ole dick. If you tariff India of course they are going to run to China. Indians are cheap. At least the ones who came to America are.

 

[Mac-7]

Oh no. If I were POTUS I would have been much more strategic/smart about taking on China. I certainly wouldn't have waged a trade war with them.

And if I did, I certainly wouldn't have waged war with all our other trading partners. Literally drive them into China's arms. Japan and China hate each other but do you know who they hate worse? Trump.

I sense that China could go back to the stone ages and still be just fine. Their citizens have no opinion. No say. That's the trade off. If you want $3 a pack cigarettes you shut the **** up and do what the government says.

And btw, if Trump wants the rest of the world to stop buying from China and Russia, he needs to stop being suck a big ole dick. If you tariff India of course they are going to run to China. Indians are cheap. At least the ones who came to America are.

You didnt offer a clear game-plan for dealing with china

Maybe one thing or maybe another

So you have no alternative

The US is the largest consumer market and friends and enemies alike want a piece of our action

Part of the problem with limiting our action to only china is transshipments

They export the product to a 3rd country and often relabel it before moving it on to America to avoid tariffs on china

 

[The Sage of Main Street]

A worker can own equity in his employer's business.
Capitalism isnt bad

All Equity Outside of Sweat Equity is Iniquity

 

[The Sage of Main Street]

All Equity Outside of Sweat Equity is Iniquity

The plutocratic parasites' propaganda is like saying that the commoners getting one vote each and the entitled elitists getting a thousand votes each guarantees everybody's rights and opportunities.

 

[The Sage of Main Street]

Its not working out well at all

Nixon and Kissinger are not to blame for our situation today

Deescalating tensions with communist china in 1970 was not a bad idea

And trade with china was not a problem as long as the WWII generation was in charge

We went wrong after the Baby Boomers took over the government

Which began in the mid 1990s

Ambidextrous Apocalypse

No-talent brown-nosing Bizz Skule Bozos took over the corporations, not just the government.

 

[sealybobo]

You didnt offer a clear game-plan for dealing with china

Maybe one thing or maybe another

So you have no alternative

The US is the largest consumer market and friends and enemies alike want a piece of our action

Part of the problem with limiting our action to only china is transshipments

They export the product to a 3rd country and often relabel it before moving it on to America to avoid tariffs on china

Of course they want a piece of our economy. But they want India's too. China's too. We want those too. And our trading partners are looking for new partners since Trump.

My alternative would have been leave it alone. Everything was just fine. Which country has the greatest economy in the world?

They want to sell us stuff. What happens when they don't want to sell us stuff?

China, Germany and India have just about as much GDP as we do. And maybe they hike up tariffs on stuff we can't make at home.

What would I have done? Not what Trump did to get us where we are now. But it sure has raised a lot of money for Trump to spend.

 

[The Sage of Main Street]

Of course the US Dollar has value. There are always two sides to every transaction. What I am saying is it costs money to build toasters but it doesn't cost much money at all to just print US Dollars. Yet they are of equal value. Therefore, it makes sense to just print US Dollars to buy Chinese iJunk. America basically gets a free lunch. On the surface this seems simple and beneficial to the US, but the monetary system creates almost all money out of debt. I think a lot of people don't understand this. Almost all money is created as debt. All debt has interest to be paid. So, when we create dollars to buy iJunk, we actually go into debt for it. We get stuff for the cost of printed money and we can kick the debt down the road to the next generation. Of course, this is a gross oversimplification. My overall point is that we have financialized the economy because money can be made from money, not actually producing stuff. That is what creates the trade imbalances. That is what gutted the American economy.

What the Fiat Fits

Money reflects the supply and the potential production of real goods.