- October 11, 2010 at 2:39 pm #12187
- October 13, 2010 at 2:34 pm #30826
Our issue? We continue to tacitly endorse and thus enable this sort of thing via political action.
- October 13, 2010 at 2:48 pm #30827
Through political and economic action.
- October 13, 2010 at 11:12 pm #30828
…as well as political inaction.
- October 14, 2010 at 5:50 pm #30829
So what should our political action be? Scold them like we are doing now with Iran – that has worked well hasn't it. Economic sanctions on Iran hasn't worked either. Empty hollow threats will do nothing. War or threat of war could do something but that is just not an option at time.
So with China – what do we do? Scold them some more. Stop their imports? Sure, prices will skyrocket hurting the poor and disadvantged in the US and China will ask for the trillions back that they lent us for the ARRA.
- October 17, 2010 at 3:38 am #30830
Well we seem to buy into the idea of “liberating” Iraqis and Afghans from “tyranny” pretty easily.
What about tariffs? Or even simple diplomacy?
Perhaps you are right, (hypocritically) clucking our tongues may have to be enough. 8)
- October 17, 2010 at 12:20 pm #30831
I think diplomatic means would work differently on China than Iran, the dynamics are different. The Iranian regime thinks “standing up to” the US strengthens its position. China knows its economy relies on the US and the rest of the Western world.
Also, tariffs on at least the illegally subsidized anti-competitive products would not be out of line.
China is now not in a position to dump US bonds. They simply hold too many. Sure, they could greatly hurt us by dumping bonds but they would greatly hurt themselves by doing so. They have made such significant investments in these bonds that they would lose billions of dollars if they started dumping the bonds as the value of the bonds they would still hold would greatly drop in value and they simply hold too much to dump them all at once before values would be affected.
As for where these bonds come from, the amount that came from ARRA (which the CBO estimates created 1.4 to 3.3 million jobs and kept the unemployment rate from climbing to a disastrous 12+ percent) pales in comparison to the amount that came from our Iraq adventure and tax cuts that did little to nothing to stimulate the economy or create jobs.
- October 18, 2010 at 6:03 pm #30832
All very good points.
- November 4, 2010 at 9:55 pm #30833
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