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U.S. Designates China as Currency Manipulator

wsj.com

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Re: U.S. Designates China as Currency Manipulator

#251

Post by petre »

Aperocky wrote: post #185
seibelj wrote: post #176

Earlier quoted context omitted.

America has free markets and a decentralized, bottom-up system that results in entrepreneurs and private entities deciding how to allocate capital. There may be temporary pain but wherever there is opportunity an entrepreneur will step in. China has zombie enterprises, their financial statements are lies, and cities built by bureaucratic maneuvering over market need. I will always bet on the American private sector o…

And of course all the product you bought that were made in China are lies, they don't exist at all. And obviously America will be able to make these products despite having about 0 unemployment, but hey, magic happens here amiright?

Production is already moving to other places in SE Asia. Vietnam is one of the big winners. So I wouldn't worry too much. It would only make things more flexibile as moving production/capital out of a smaller country has less of an impact.

Re: U.S. Designates China as Currency Manipulator

#252

Post by [deleted] »

swagasaurus-rex wrote: post #180
codingslave wrote: post #89

The long story to this is that the Chinese dont like what Trump is doing, he is the first to stand up to their tactics. The thing is, if Trump doesn't get reelected, a democratic candidate will most likely not continue the trade war. China has every incentive to place pressure on the us stock market in the hope that it ruins Trumps chances at reelection. So they play this long waiting game, in the chance that Trump d…

I'm not so sure. The democrats have been largely silent about the trade war (beyond using it as ammo against Trump). I think no matter the administration, a lot of the existing executive branch would like to see this through.

[deleted]

Re: U.S. Designates China as Currency Manipulator

#253

Post by edaemon »

busymom0 wrote: post #238
sumedh wrote: post #196

Earlier quoted context omitted.

Chris Collins would have been a better example instead of Pelosi.

Why? Chris is listed at 23.83 million whereas Pelosi is at 140 million. https://www.msn.com/en-us/money/markets/the-25-richest-membe...

Collins was arrested and charged with insider trading in 2018: https://en.wikipedia.org/wiki/Chris_Collins_(American_politi...

Re: U.S. Designates China as Currency Manipulator

#254

Post by jlangenauer »

foldingmoney wrote: post #248
thrwayxyz wrote: post #171

Earlier quoted context omitted.

Russia has the population of Nigeria and the GDP of Italy. The cold war ended a while ago. Worrying about them today makes about as much sense as worrying about Autria in 1930 because Austrohungaria used to be a world power.

>Worrying about them today makes about as much sense as worrying about Autria in 1930 because Austrohungaria used to be a world power. And nothing bad came out of Austria in the 1930s.

Well, our Austrian friend had long moved to Germany by 1930.

Re: U.S. Designates China as Currency Manipulator

#255

Post by Someone »

rossdavidh wrote: post #67

So, really, is there any doubt that this is true? China's currency exchange rate has been abnormally stable for a long time, and the Obama, Bush, Clinton, Bush, and Reagan administrations all knew it was the result of currency manipuliation. They just found it politically unpalatable to admit it out loud. The real question would be, why is the U.S. finally admitting this out loud? 1) amping up a trade war 2) decoupli…

One person’s ‘currency manipulation’ is another person’s ‘monetary management’. https://en.wikipedia.org/wiki/Bretton_Woods_system:

”The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained its external exchange rates within 1 percent by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments”

(See also https://en.wikipedia.org/wiki/Fixed_exchange-rate_system, which lists many examples of ‘pegging’)

Re: U.S. Designates China as Currency Manipulator

#256

Post by bayesian_horse »

chrischen wrote: post #189
thrwayxyz wrote: post #171

Earlier quoted context omitted.

Russia has the population of Nigeria and the GDP of Italy. The cold war ended a while ago. Worrying about them today makes about as much sense as worrying about Autria in 1930 because Austrohungaria used to be a world power.

They have a large nuclear arsenal.

They can't use that arsenal to buy Chinese stuff.

Re: U.S. Designates China as Currency Manipulator

#257

Post by bayesian_horse »

markvdb wrote: post #107

3% stock market movements set in motion by the US president alone. "Great" insider trading potential. Have someone set up the right derivatives strategy and bam: instant millions. I couldn't convince myself to immediately write that idea off as utter nonsense. Anyone with more relevant financial experience? Can you reassure me this would be difficult to pull off? Or would you have to confirm this would be difficult t…

I can remember this issue having been raised a lot of times before.

The main issue is not so much about Trump himself, because he isn't sophisticated enough to profit of virtually anything more complicated than a licensing deal with money launderers, but rather the billionaire "friends" he talks to on the phone all the time.

Re: U.S. Designates China as Currency Manipulator

#258

Post by bayesian_horse »

sumedh wrote: post #196
busymom0 wrote: post #116

Earlier quoted context omitted.

Even IF this were the case, Insider trading has been allowed in congress for a long time. There was the STOCK act passed in 2012 to prevent it, the very next year it was amended to get rid of strict disclosure requirements. Nancy Pelosi for example (speaker of the democrat majority house) is worth 140 million dollars. One has to wonder how a life time politician has managed to get that much wealth.

Chris Collins would have been a better example instead of Pelosi.

And many members of Trump's cabinet.

I remember something like six ex- Goldman-Sachs partners? Multiple billionaires and corruption incidents at a breath taking frequency...

I really don't like to blame rich people for their wealth. But boy, the people around Trump really make an effort to promote the image of rich people feeling entitled to more than they are legally allowed.

Re: U.S. Designates China as Currency Manipulator

#259

Post by astrange »

Supermancho wrote: post #237
astrange wrote: post #233

Earlier quoted context omitted.

> As usual, the dollar dictates the rules People really seem to believe this, but it always takes them to wrong conclusions here. For instance, everyone thinks California esp. SF is expensive because of "rich developers" but it's not. It's expensive because armies of retired people come to city council meetings and shut down any development because it'll hurt their 60s nostalgia. Now, those people are acting to raise…

I believe it because it's demonstrably true. > It's expensive because armies of retired people come to city council meetings and shut down any development because it'll hurt their 60s nostalgia. Maybe in some areas, but in Southern California this is fantasy. (California) Brea's mall expansion forced eminent domain on founding neighborhoods for commercial development. That never came and was sold back to new develope…

Maybe the city is lacking a tax base. That tends to happen, since another thing the retired crowd did was vote themselves out of paying property taxes. When they do lose a battle, it can be because the city needs some sales tax and commercial property to keep the schools open. (See Cupertino - they can lock out apartments for a decade but can't stop Apple from doing anything.)

Re: U.S. Designates China as Currency Manipulator

#260

Post by marmaduke »

Phil_Latio wrote: post #200
jchb wrote: post #179

Earlier quoted context omitted.

Actually the German surplus has been brought up for discussion many times in the EU parliament. A trade surplus of over 6% triggers a so called IDR, one EU acronym among many, which means (Macroeconomic) In-Depth Review. If the review shows an excessive balance, that triggers the EIP. Excessive Imbalance Procedure!. If a country fails to follow the recommendations coming out of the EIP, that can in theory lead to san…

> Actually the German surplus has been brought up for discussion many times in the EU parliament. Has it? I don't follow that clown show. Looks like Germany has the power within the EU to ignore such issues while bullying other countries into following the rules "we all agreed on". Naturally this topic is a total taboo in Germany. The worst excuse I heard so far was: "Yes, we profit the most and other countries may s…

> we all agreed on

I have a German boss who uses this rhetoric frequently, which is usually code for 'shut up and do what I say'

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