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Blaming China is of paranoia: Time Magazine [Copy link] 中文

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Post time 2010-11-2 22:08:13 |Display all floors
An article appeared on The Time Magazine late last month said that the United States should act like "a great nation", and not always blame China for its own economic problems.

The story, authored by Zachary Karabell, said that China is not perfect yet, but holding the rapidly rising Asian country accountable for U.S.'s domestic woes is beyond anachronistic. It reflected a dangerous refusal to deal with the world as it is.

It said that retaliating against China over currencies will not restore high-end manufacturing jobs back to the United States. It will also not revive construction or retool the American labor force, and it will not rebuild rotting U.S. bridges or create a next-generation energy grid.

The article believes that this is an argument born of fear and fueled by paranoia. It obscures the degree to which the economies of China and the U.S. have become symbiotic.

"Those trillions in reserves that China accumulates: Where do they go? Back to the U.S. in the form of loans to the federal government. Those made-in-China goods that account for the trade deficit: Whom do they benefit? China, yes, but also American consumers and companies. Without China, American companies could not have maintained their profitability in recent years. Take two marquee names, Caterpillar and Nike. Both manufacture in China, but both also view China as a fast-growing market for their products," the article said.

The U.S., leading the charge for developed nations, has convinced itself that China has purposely kept its currency undervalued to make its exports more attractive.

"When did we collectively go through the looking glass and end up in this distorted economic universe? The idea that the U.S. is not responsible for its own economic stagnation, housing bubble and unemployment is a black-is-white, up-is-down view that only insecurity can breed," said the article.

"The U.S. cannot force China to bend, but it can cause serious disruptions to the global economy. We can take the cue from our fears and plunge the world into chaos. Or we can act like the great nation that we profess to be and tend zealously to our own problems rather than looking abroad for dragons to slay," it said.

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Post time 2010-11-3 08:29:59 |Display all floors
Originally posted by NE_Tigress at 2010-11-2 22:08
"Those trillions in reserves that China accumulates: Where do they go? Back to the U.S. in the form of loans to the federal government. Those made-in-China goods that account for the trade deficit: Whom do they benefit? China, yes, but also American consumers and companies. Without China, American companies could not have maintained their profitability in recent years. Take two marquee names, Caterpillar and Nike. Both manufacture in China, but both also view China as a fast-growing market for their products," the article said...


But the real problem is the loss of wages from the factory workers.  These factories, with the help of unions, provided decent livings for skilled and non-skilled workers.  It used to be you start work out of high school and retire at the same company.  So you have a large group of people who have lost their jobs and /or are under-employed.   So we have a loss of disposable income from these workers that used to go into the economy.  I come from a state that has suffered the toll of de-factorization (I know that's not a word).  So instead of buying home, cars for their children, tv, dvds, etc. many are collecting state benefits to keep them afloat.They say my state has lost 400,000 jobs overseas - just my state alone.  At least that was part of a recent political campaign.

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Post time 2010-11-3 09:06:28 |Display all floors

Reply #2 JFenix's post

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Post time 2010-11-3 19:37:34 |Display all floors
U.S. stance utterly selfish............

Yeah, it's selfish to want to keep your job.  All of america should give up their jobs to china.  How selfish is it to have employment?

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Post time 2010-11-3 19:40:15 |Display all floors
I could show you pictures of what the loss of manufacturing jobs have done to our cities and the people there but it's just too sad.

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Post time 2010-11-3 20:12:00 |Display all floors
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"My way or Guantanamo Bay"

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Post time 2010-11-3 20:37:23 |Display all floors
Originally posted by Baiquen at 2010-11-3 20:12


How about doing something about those companies instead of blaming China for having better investment conditions?


I think people do blame the companies and the politicians more so than china.  I actually don't see what they are talking about as far as 'blaming china'.  Not when it comes to jobs.  We don't blame the mexicans either for working under minimum wage which take jobs away either.  It may just sound that way.  We really need to come up with a new industry, something we can be more competitive.  I would like it to be alternative energy and work towards becoming energy exporters.  We need something to fill the manufacturing void.  We need something to replace those wages for working class people.   A job at walmart is not the solution - flipping burgers is not an answer.  You can't raise a family on that and let's be honest here - not everyone is college material.  Saying education, education, education (while I believe in it) is not going  to work for all people.

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