I have close ties in China - companies and individuals are going thru tighter and tighter scrutiny if they want to use dollars to buy stuff overseas.
Can somebody explain to me how China is screwing us?
- Thread starter RGLD
- Start date
I have close ties in China - companies and individuals are going thru tighter and tighter scrutiny if they want to use dollars to buy stuff overseas.
also - Trump's timing is impeccable.
The US economy is firing on all cylinders right now.. and this trade war headwind will have minimal effect... meanwhile China's economy is already in trouble with their internal debt crisis and foreign reserve shortage.. so any pain from the tariff will be amplified.
The US economy is firing on all cylinders right now.. and this trade war headwind will have minimal effect... meanwhile China's economy is already in trouble with their internal debt crisis and foreign reserve shortage.. so any pain from the tariff will be amplified.
So you're saying Trump is pushing them because he knows they'll fold with their current situation. You are confident we'll win the trade war against China? How do you know China isn't going to drag us with them if they go into recession? A lot of our goods are sold to them too. Namely farming. Wouldn't China defaulting lead to a cascade if defaults across the world? For example Japan is a ticking timebomb.
of course there is risk involved... but if not now, when? this is more than a recession issue, this is about world dominance.... if the status quo goes on before long America will have an opponent beyond control.
world dominance trumps everything.. as long as we are number one we can keep printing the world's reserve currency and absorb resources globally...
trade deficit is really just a bargaining chip... think about it... we print this paper, exchange for real goods and services, they use the paper to buy our bonds...
this dollar recycling scheme has been going on forever, formerly with the Saudis for their oil, but in recent decades with China for their goods and cheap labor.
this trade war is really about intellectual properties so that America will always be leading the technology front; and also about opening up the China market so American companies can infiltrate... if we can infiltrate into their insurance, banking, financial services etc, then China can become an economical colony.
Thats' the core meaning of this trade war game...
This is why the pressure is immense on the China leaders.... on one hand their economy will take a huge hit from the tariff... on the other hand if they give in they may lose control because of this economical/financial colonization.
Trump has no pressure... guy is set for life... he is truly working for the American people.. for America... you watch his interviews from 30-50 years ago you can see his love for the country and back then he already had an agenda for America not very different from his views today.
He is a god send... support him!
Americans who love the US should support President Donald Trump! As he said before, I am the President of the United States, not any other country! A true American who loves his country. Contrast that with extreme liberals who are communists, socialists and islamists trying to destroy the US from within! A no brainer on who to support!
Can you please elaborate a little more on this "recycling"? I think I'm starting to get it... Put it in a circle?
We print money -> They buy our bonds with it -> They buy our goods with it -> ???
Where do we come first circle?
This is the sort of thing which goes on - shortcuts, poor workmanship, poor quality.
In the news yesterday, Western Australia.....
Orica blasts faulty Chinese welding after Yara shutdown
Yara’s billion dollar-plus Pilbara explosives plant was shut down after a “terminal cancer of leaks” caused by faulty welding done in China, according to part-owner Orica.
But Orica chief executive Alberto Calderon is optimistic the plant, expected to restart in the first half of 2020, will serve the Pilbara for decades with wireless detonator technology allowing the automation of drilling and blasting.
Mr Calderon said the 330,000 tonnes-a-year plant, which began operating in 2016, made quality technical ammonium nitrate “but after producing about 70,000 tonnes the leaks became unsustainable”.
Speaking after the release of Orica’s half-year results yesterday, he said Norwegian partner Yara, in charge of building and operating the plant, did not sufficiently manage the quality of work done in China.
The ex-BHP executive said components that operated at very high temperatures, including the heat exchangers, “become absolutely useless” as they “suffered this terminal cancer of leaks”.
Mr Calderon said the replacement components were being built in France, Germany and Italy.
Orica marked down the value of its 45 per cent share of the plant by $155 million last month, indicating a total direct cost of the defective equipment of about $340 million.
In 2012 the plant was expected to cost $US800 million and start production in 2015. The delay was “costing us millions of dollars every month”, he said.
https://thewest.com.au/business/min...se-welding-after-yara-shutdown-ng-b881193628z
In the news yesterday, Western Australia.....
Orica blasts faulty Chinese welding after Yara shutdown
Yara’s billion dollar-plus Pilbara explosives plant was shut down after a “terminal cancer of leaks” caused by faulty welding done in China, according to part-owner Orica.
But Orica chief executive Alberto Calderon is optimistic the plant, expected to restart in the first half of 2020, will serve the Pilbara for decades with wireless detonator technology allowing the automation of drilling and blasting.
Mr Calderon said the 330,000 tonnes-a-year plant, which began operating in 2016, made quality technical ammonium nitrate “but after producing about 70,000 tonnes the leaks became unsustainable”.
Speaking after the release of Orica’s half-year results yesterday, he said Norwegian partner Yara, in charge of building and operating the plant, did not sufficiently manage the quality of work done in China.
The ex-BHP executive said components that operated at very high temperatures, including the heat exchangers, “become absolutely useless” as they “suffered this terminal cancer of leaks”.
Mr Calderon said the replacement components were being built in France, Germany and Italy.
Orica marked down the value of its 45 per cent share of the plant by $155 million last month, indicating a total direct cost of the defective equipment of about $340 million.
In 2012 the plant was expected to cost $US800 million and start production in 2015. The delay was “costing us millions of dollars every month”, he said.
https://thewest.com.au/business/min...se-welding-after-yara-shutdown-ng-b881193628z