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#1 | |
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Administrator
![]() Join Date: Jul 2008
Posts: 1,079
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#2 |
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Senior Investigator
Join Date: Sep 2008
Posts: 1,699
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More wasteful spending of our tax dollars. Let China take care of their own problems. They have more money than we do, so they can afford it.
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#3 |
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Junior Investigator
Join Date: Feb 2009
Posts: 49
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Wtf?
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#4 |
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Investigator
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#5 |
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Investigator
Join Date: Oct 2008
Posts: 325
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It does reduce our debt to them slightly by sending dollars into China. Wealth doesn't necessarily correlate with technology. If that were the case, then the US would be by the richest nation in the world, quite possibly by far. I don't know a whole lot about foreign countries, so I can't really commit myself to an extent of their dominance. The fact that the Chinese sell so much crap to the US as their prime source of income is what is so extraordinary about their economy. That's how the US has maintained the "service economy" farce for so long, importing as much cheap crap as possible. China will sell anything and will do whatever it can to make it the cheapest thing available, even if that means sacrificing the safety of its customers or the integrity of its business. The shear volume of crap they sell is what drives their economy. The fact that the US is not importing as much is what is beginning to slow their economy a bit and their growth will slow down to about 4 or 5% instead of the current pace of about 10%.
The money issue with China is that they have a lot of our debt, not more money than us. Last edited by Mingus; 05-13-2009 at 11:27 AM. |
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#6 |
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Investigator
Join Date: Dec 2008
Posts: 110
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#7 | |
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Junior Investigator
Join Date: Apr 2009
Posts: 3
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Quote:
Back after WWII, Britain was in serious debt to us, the U.S., due to our having saved their arse from the Germans. England and France decided to rough up Egypt over the Suez (sp?) Canal since they wanted it for themselves (sorry, but I do not know the exact reasons why). Anyhow, this skirmish was threatening to draw in the rest of the Middle East and had the potential to become WWIII. We, being the U.S., decided to play peacekeeper and politely asked France and England to stop bombing Egypt. They promptly replied with a "no". We then told England that we would take their pound and dump it into about every useless commodity in existance, thereby making the pound absolutely worthless and destroying their economy. England then decided that we knew what we were talking about and pulled out, causing France to also pull out. This ended the conflict. This is an early example of economic warfare, and is also something that China could very easily do to us since they hold so many U.S. dollars and our debt. At least that is how it was explained to me. |
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#8 |
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Investigator
Join Date: Oct 2008
Posts: 325
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Yes, it is for leverage purposes so we have to watch how far we push China, politically. They have growth, but the US has the largest GDP still, so it isn't very easy to push us economically.
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#9 |
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Senior Investigator
Join Date: Sep 2008
Posts: 1,699
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If China called their debts now, the US could do a country's version of bankruptcy and China would lose out big. As the dollar is regaining much more strength, China is not going to call in on any debt, since their currency is tied to the US dollar.
All I meant to say is China should take care of their own personal problems, and the US needs to deal with our people. I am all for humanitarian causes, but there are private donors the groups can ask for sponsorship. There are still some extreme poverty conditions in the US, and it is time for the US to take care of those issues before tackling another country's problems. |
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