Do we manufacture ANTHING in the US now?

[moki]

Cuba has nothing we need for economic growth and nothing that will make the fat man fatter. The embargo went on way too long and now the rest of the world has a shoe in on all the future development that could have potential for US bigwigs. After the fall of Castro, Cuba will no longer be a communist country and will not be able to pay it's workers 2 cents on the dollar, like China can. We overlook the humanitarian problems in China to fatten the wallets of our upper class. Besides that, we rely on cash from China and Cuba doesn't have any of that to lend us.

The most direct beneficiaries of trade with China are the poor and middle class. Consumer goods prices would be much, much higher (which would impact those segments of the economy the hardest) were it not for the inexpensive goods from China.

 

[Matt R]

If you look at the US and China comparitively, we have some similar numbers. But, when you compare external debt, about 10 TRILLION for the US and about 300 MILLION for China, we are in need of some reform.

 

[Mrepp]

The only thing that gets me is what the Chinese think of us when they go to work everyday and the finger cuff factory. I mean every little trinket in a box of cereal is made there.

 

[moki]

If you look at the US and China comparitively, we have some similar numbers. But, when you compare external debt, about 10 TRILLION for the US and about 300 MILLION for China, we are in need of some reform.

You need to make that comparison in terms of a % of per capita GDP, otherwise it is meaningless.

China's public debt: 22.1% of GDP

USA's public debt: 64.7% of GDP

Certainly not good, but not nearly as dire as the direct comparison you made above would make it seem.

 

[moki]

The only thing that gets me is what the Chinese think of us when they go to work everyday and the finger cuff factory. I mean every little trinket in a box of cereal is made there.

Don't be so self-centered, they aren't thinking of you (they don't even know where the stuff they are making gets shipped to... we certainly aren't the only country running a trade deficit with China). They are thinking about the same things you and I think about at work... making an income, can't wait to leave to get dinner, blah blah blah

 

[Mrepp]

The only thing that gets me is what the Chinese think of us when they go to work everyday and the finger cuff factory. I mean every little trinket in a box of cereal is made there.

Don't be so self-centered, they aren't thinking of you (they don't even know where the stuff they are making gets shipped to... we certainly aren't the only country running a trade deficit with China). They are thinking about the same things you and I think about at work... making an income, can't wait to leave to get dinner, blah blah blah

:blush: thanks for ruining my joke.

 

[Matt R]

The most direct beneficiaries of trade with China are the poor and middle class. Consumer goods prices would be much, much higher (which would impact those segments of the economy the hardest) were it not for the inexpensive goods from China.

Yes, but the reason behind that segment benefitting is because they are in that class because we are exporting their jobs to other countries. Fault lies in all sections of our class system, not just with the rich. We are greedy citizens who want everything now and don't want to work for it. It's our own fault for the way things have gone. This started in the 70's and grew exponentially in the late 80's. We are just now starting to feel the greater effects. We have no one to blame but ourselves. Laziness begets the fall of civilization as we have previously known it.

 

[Matt R]

If you look at the US and China comparitively, we have some similar numbers. But, when you compare external debt, about 10 TRILLION for the US and about 300 MILLION for China, we are in need of some reform.

You need to make that comparison in terms of a % of per capita GDP, otherwise it is meaningless.

China's public debt: 22.1% of GDP

USA's public debt: 64.7% of GDP

Certainly not good, but not nearly as dire as the direct comparison you made above would make it seem.

Agreed.... but we also have unemployment rates to look at. About 10% for China and 12% for the US (2004 estimates). And our amount foreign reserves $69 billion, in exchanges and gold pales in comparison to China's $1 trillion.