China declared currency manipulator

[SassyLady]

Pete ... opinion?
The United States took the rare step on Monday of formally labeling China a currency manipulator, as trade relations between the two countries continued to spiral downward after President Donald Trump's decision last week to impose additional tariffs on Chinese goods."In recent days, China has taken concrete steps to devalue its currency, while maintaining substantial foreign exchange reserves despite active use of such tools in the past," the Treasury Department said in a statement that followed the People's Bank of China's decision to let its currency, the renminbi, fall to the lowest level in more than a decade.https://www.politico.com/story/2019/08/05/trump-blasts-china-yuan-drop-as-currency-manipulation-1634502

[High_Plains_Drifter]

Pete ... opinion?https://www.politico.com/story/2019/08/05/trump-blasts-china-yuan-drop-as-currency-manipulation-1634502
I can tell you his opinion... IT'S TRUMP'S FAULT.

[Kathianne]

I heard on some financial show today that they think the administration may be trying to decouple our economy from China's, not actually wanting to negotiate. The feeling is that China is not a reliable player-overvalued and disruptive.

[SassyLady]

I heard on some financial show today that they think the administration may be trying to decouple our economy from China's, not actually wanting to negotiate. The feeling is that China is not a reliable player-overvalued and disruptive.

Well, sounds like a good thing.

[Kathianne]

Well, sounds like a good thing.

Maybe. I never trust my knowledge of economics.

https://www.rte.ie/brainstorm/2019/0801/1066472-behind-the-us-and-chinas-conscious-economic-decoupling/

https://www.scmp.com/comment/insight-opinion/united-states/article/2174084/why-us-should-not-simply-decouple-china

https://www.etftrends.com/tactical-allocation-channel/china-currency-weakens-another-step-towards-decoupling/

[pete311]

Pete ... opinion?https://www.politico.com/story/2019/08/05/trump-blasts-china-yuan-drop-as-currency-manipulation-1634502

Trump is playing checkers and the Chinese 4-d chess. He can't even get tariffs right. Keeps saying they pay for it.

[SassyLady]

Trump is playing checkers and the Chinese 4-d chess. He can't even get tariffs right. Keeps saying they pay for it.

Sounds like something China would do. Instead of playing honest, straight up game they cheat with something not even part of tournament. Pull the plug and 4-d evaporates.

Trump is doing right thing with bringing China to heel.

[pete311]

Sounds like something China would do. Instead of playing honest, straight up game they cheat with something not even part of tournament. Pull the plug and 4-d evaporates.

Trump is doing right thing with bringing China to heel.

Like I said, Trump has maybe 14 months. Chinese can wait that long.

[SassyLady]

Like I said, Trump has maybe 14 months. Chinese can wait that long.

Yeah, they know a Democrat will cave and kowtow ...... no stomach for the hard stuff. It's really going to suck for them when Trump is re-elected.

[pete311]

Yeah, they know a Democrat will cave and kowtow ...... no stomach for the hard stuff. It's really going to suck for them when Trump is re-elected.

Yup, republicans really know how to make people suffer, especially women, children and minorities.

[Elessar]

Yup, republicans really know how to make people suffer, especially women, children and minorities.

How much real good have the liberals done for our blighted inner cities?

Homeless camping, shitting, urination on the streets. Discarded needles all over.

Weekly gun fights with killed and wounded, including women and children.

How much have these liberal city governments done to fix the problems?

Answer: Nothing!

[jimnyc]

Hey Pete - I would gather you are all done with all of your clients now? :laugh:

Or just taking a break from them? Is your work done now? I'm glad it ended when negative Trump news occurred so that we can hear what you have to say on the subject, buddy! Either way, great to see you posting the same stuff again. :thumb:

Carry on. Don't want to stop anything just when we were getting to the baby killing part, the predictable part! Oh, and of course racists. But the media took up the slack for you. :)

[pete311]

How much real good have the liberals done for our blighted inner cities?

Homeless camping, shitting, urination on the streets. Discarded needles all over.

Weekly gun fights with killed and wounded, including women and children.

How much have these liberal city governments done to fix the problems?

Answer: Nothing!

Just picking up the mess from 300 years of racist policies and white flight.

[pete311]

Hey Pete - I would gather you are all done with all of your clients now? :laugh:

Or just taking a break from them? Is your work done now? I'm glad it ended when negative Trump news occurred so that we can hear what you have to say on the subject, buddy! Either way, great to see you posting the same stuff again. :thumb:

Carry on. Don't want to stop anything just when we were getting to the baby killing part, the predictable part! Oh, and of course racists. But the media took up the slack for you. :)

I have a bit more time atm, but I did just adopt 2 dogs a few weeks ago and one is very skittish. Need to train.

[STTAB]

Trump is playing checkers and the Chinese 4-d chess. He can't even get tariffs right. Keeps saying they pay for it.

Petey , why must you continually lie? It is demonstrably true that the Chinese are paying the tariffs not Americans. In fact you dishonest fool, this is the very reason they are devaluing their currency, so that they can simply eat the tarrifs and keep the price of their imports cheap.

I ask again , what does China have on you Pete?

[Kathianne]

Tariffs are nothing more than tax on imports. Thus, those importing the goods pay the tariffs, which are then figured onto the final cost when the goods are sold.

Thus, Macy's, Walmart, Nike, and more are sending messages to buy before the 'prices rise.' Tariffs are passed on. Retail is where people notice most quickly, but those products that are part of manufactured in the US goods, will cost long term price increases.

Tariffs are not a good thing.

Now if the President is looking at a long term goal, 'uncoupling' from China's economy, he may decide it's worth the costs to consumers and hit to the economy.

[High_Plains_Drifter]

I can tell you his opinion... IT'S TRUMP'S FAULT.
Told ya.

[High_Plains_Drifter]

The way I hear some people describe our relationship with China, it's better to have China screwing the hell out of us, stealing our intellectual property and maintaining a massive trade imbalance and manipulating their currency, than it is for us to finally fight back. I really get the impression some people would rather see America continue to be FUCKED by China.

Myself, I could not be happier to see Trump putting the screws to China to even the playing field, and if that costs me a few pennies or even a couple a bucks more here and there, I'll GLADLY PAY IT.

[STTAB]

Tariffs are nothing more than tax on imports. Thus, those importing the goods pay the tariffs, which are then figured onto the final cost when the goods are sold.

Thus, Macy's, Walmart, Nike, and more are sending messages to buy before the 'prices rise.' Tariffs are passed on. Retail is where people notice most quickly, but those products that are part of manufactured in the US goods, will cost long term price increases.

Tariffs are not a good thing.

Now if the President is looking at a long term goal, 'uncoupling' from China's economy, he may decide it's worth the costs to consumers and hit to the economy.

BUT Kath you aren't figuring in that China is devaluing their currency which means the manufacturers in China are eating the tarrifs through lower prices.

That's how the US wins this thing, just keep raising tarrifs until China can no longer devalue their currency to match and at that point the prices on their goods will HAVE to go up, and at that point, Wal Mart and Target and Amazon will begin buying products made in places where it's cheaper to produce and China is out of business.

China has been playing the long game for 50 years knowing Americans are soft and won't accept short term pain for long term gain. Trump is trying to play their game, knowing that their economy is actually teetering and they can't afford much more.

China's only goal right now is too outlast Trump, if he gets reelected they will cave. They have no choice every economist says that there is no way they can continue fighting the US for 5 or 6 years.

[Kathianne]

BUT Kath you aren't figuring in that China is devaluing their currency which means the manufacturers in China are eating the tarrifs through lower prices.

That's how the US wins this thing, just keep raising tarrifs until China can no longer devalue their currency to match and at that point the prices on their goods will HAVE to go up, and at that point, Wal Mart and Target and Amazon will begin buying products made in places where it's cheaper to produce and China is out of business.

China has been playing the long game for 50 years knowing Americans are soft and won't accept short term pain for long term gain. Trump is trying to play their game, knowing that their economy is actually teetering and they can't afford much more.

China's only goal right now is too outlast Trump, if he gets reelected they will cave. They have no choice every economist says that there is no way they can continue fighting the US for 5 or 6 years.

But STTAB, I said 0 about the policy, other than it was a tax on imports. Costs borne by consumers. Might have a long term purpose.

[STTAB]

But STTAB, I said 0 about the policy, other than it was a tax on imports. Costs borne by consumers. Might have a long term purpose.

That's not the point. The point is AS OF NOW consumers are not paying tariffs. they just are not. China is devaluaing their currency so that their items cost Wal Mart and etc etc the same as they did so that no price increase is being passed on to the consumer. Chinese manufacturers are in essence eating the cost of the tariffs.

China is , of course, hoping Trump loses in 2020 because in the long term devaluing their currency is hurting their economy but in the short term they can just make manufacturers eat it because they don't even pretend to care what their citizens think. Eventually though ..........

Anyone who says that the tarrifs on Chinese goods have been passed onto consumers is lying to you. You can see this for yourself by making a quick trip to Wal Mart, or a quick shopping trip to Amazon where you can currently buy a 60" Chinese built flat screen TV for $200

[pete311]

That's not the point. The point is AS OF NOW consumers are not paying tariffs. they just are not. China is devaluaing their currency so that their items cost Wal Mart and etc etc the same as they did so that no price increase is being passed on to the consumer. Chinese manufacturers are in essence eating the cost of the tariffs.

China is , of course, hoping Trump loses in 2020 because in the long term devaluing their currency is hurting their economy but in the short term they can just make manufacturers eat it because they don't even pretend to care what their citizens think. Eventually though ..........

Anyone who says that the tarrifs on Chinese goods have been passed onto consumers is lying to you. You can see this for yourself by making a quick trip to Wal Mart, or a quick shopping trip to Amazon where you can currently buy a 60" Chinese built flat screen TV for $200

I really thought you were smarter than this. You are dead wrong.
https://www.cnbc.com/2019/08/02/heres-why-us-importers-and-consumers-pay-trumps-tariffs-not-china.html

[Kathianne]

That's not the point. The point is AS OF NOW consumers are not paying tariffs. they just are not. China is devaluaing their currency so that their items cost Wal Mart and etc etc the same as they did so that no price increase is being passed on to the consumer. Chinese manufacturers are in essence eating the cost of the tariffs.

China is , of course, hoping Trump loses in 2020 because in the long term devaluing their currency is hurting their economy but in the short term they can just make manufacturers eat it because they don't even pretend to care what their citizens think. Eventually though ..........

Anyone who says that the tarrifs on Chinese goods have been passed onto consumers is lying to you. You can see this for yourself by making a quick trip to Wal Mart, or a quick shopping trip to Amazon where you can currently buy a 60" Chinese built flat screen TV for $200

Actually if you look at what I wrote, instead assuming I'm making an argument I have not, you'd find I stated that the consumers are being warned by retailers and some manufactures about future increases.

It's impossible at this time, to credit or blame devaluing the currency, as today they back tracked for now. No doubt, many more moves are going to take place.

[STTAB]

Actually if you look at what I wrote, instead assuming I'm making an argument I have not, you'd find I stated that the consumers are being warned by retailers and some manufactures about future increases.

It's impossible at this time, to credit or blame devaluing the currency, as today they back tracked for now. No doubt, many more moves are going to take place.

It's not impossible to know, they have been doing it for years . They backtracked on retaliating. But they have been devaluing their currency to make their imports cheaper than other products for years. Trump is just the first President with the balls to confront them.

[jimnyc]

I have a bit more time atm, but I did just adopt 2 dogs a few weeks ago and one is very skittish. Need to train.

Hope it's not a Husky! Been training from day one, and even paid a pro there for awhile - and I got me a broken wrist, plates and 10 screws for my hard work and determination! LOL

Either way, glad to see you having some fun with us. Would REALLY love and PREFER to have fun posting seriously as you used to, and maybe a little more time invested in your posts when you have time. You used to be able to do so without all of the rhetoric and such and had fun with facts and seriousness - and you even participated in fun parts of the board.

Now? Only Trump gotcha stuff, limited time and limited writing, generally one liners, 2 if we are lucky to be blessed. But you are better than that, but gave up I guess.

[jimnyc]

Just picking up the mess from 300 years of racist policies and white flight.

Where the 300 years start and with whom? You realize 300 years ago was 1719, correct? Who's specific policies?

Does ANY of this pertain to the Democrat racist policies of the past, you know, the Byrd types that are always ignored? I'm glad you now recognize WHO started all of it and WHO is the hypocrites. :)

[jimnyc]

Tariffs are nothing more than tax on imports. Thus, those importing the goods pay the tariffs, which are then figured onto the final cost when the goods are sold.

Thus, Macy's, Walmart, Nike, and more are sending messages to buy before the 'prices rise.' Tariffs are passed on. Retail is where people notice most quickly, but those products that are part of manufactured in the US goods, will cost long term price increases.

Tariffs are not a good thing.

Now if the President is looking at a long term goal, 'uncoupling' from China's economy, he may decide it's worth the costs to consumers and hit to the economy.

Not a huge fan of them either. BUT - if they aren't a good thing, then why do other countries use them so much and so wisely against us?

[Kathianne]

It's not impossible to know, they have been doing it for years . They backtracked on retaliating. But they have been devaluing their currency to make their imports cheaper than other products for years. Trump is just the first President with the balls to confront them.
Captain Obvious. Now you want to mix topics? No thanks. I agree that China:

1. manipulates their currency, including the devaluing Sun/Mon.
2. Steals intellectual materials from US and other Western sources
3. Basically suck, including their current dealing with Hong Kong.

[jimnyc]

I really thought you were smarter than this. You are dead wrong.
https://www.cnbc.com/2019/08/02/heres-why-us-importers-and-consumers-pay-trumps-tariffs-not-china.html

Out of curiosity, where are we regulars all getting killed and hammered at with these increases?

[Kathianne]

Not a huge fan of them either. BUT - if they aren't a good thing, then why do other countries use them so much and so wisely against us?

Maybe they area good? Time will tell. As I said earlier, I don't trust my economics background.

Wiki seems to show an inverse about tariffs and stronger economies, but I don't know about selective targets, which is what we're talking about with China.

https://en.wikipedia.org/wiki/List_of_countries_by_tariff_rate

[SassyLady]

China blinks first. Now US stocks are bouncing back
https://amp.cnn.com/cnn/2019/08/06/investing/dow-stock-market-today/index.html

[Kathianne]

China blinks first. Now US stocks are bouncing back


https://amp.cnn.com/cnn/2019/08/06/investing/dow-stock-market-today/index.html

They bumped up the yuan more, but the problem will continue. Stocks rebounded some.

[jimnyc]

Maybe they area good? Time will tell. As I said earlier, I don't trust my economics background.

Wiki seems to show an inverse about tariffs and stronger economies, but I don't know about selective targets, which is what we're talking about with China.

https://en.wikipedia.org/wiki/List_of_countries_by_tariff_rate

I was merely pointing out the other countries -as they use them to hammer us a lot, and we have allowed for such. Preferably, they would be gotten rid of, but foreign countries don't want that either.

[Kathianne]

I was merely pointing out the other countries -as they use them to hammer us a lot, and we have allowed for such. Preferably, they would be gotten rid of, but foreign countries don't want that either.


What countries are using them to hammer us, other than China? Historically countries have used them to protect certain industries, especially new or emerging ones.

[jimnyc]

What countries are using them to hammer us, other than China? Historically countries have used them to protect certain industries, especially new or emerging ones.

No issues in here, just saw your reply now, but I'm gonna head out to my local park and do some walking. I don't think I'm up to politics lately.

[STTAB]

Captain Obvious. Now you want to mix topics? No thanks. I agree that China:

1. manipulates their currency, including the devaluing Sun/Mon.
2. Steals intellectual materials from US and other Western sources
3. Basically suck, including their current dealing with Hong Kong.

Kath, don't take this the wrong way, but you have sucked lately. I don't know what it is, maybe the heat, maybe well who knows, but you have been extra snippy the last few weeks, with me , with Jimmy, and with Gunny at least. You okay?

[Kathianne]

Kath, don't take this the wrong way, but you have sucked lately. I don't know what it is, maybe the heat, maybe well who knows, but you have been extra snippy the last few weeks, with me , with Jimmy, and with Gunny at least. You okay?

I'm great.

[STTAB]

Yup, republicans really know how to make people suffer, especially women, children and minorities.

No American are suffering due to the tariffs on Chinese products .

Every day I get on here thinking "today is the day Petey doesn't tell a lie"

and every day you disappoint.