Reply to China Retaliates Against the U.S. With Its Own Higher Tariffs

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]don't blame china for everything.  think about what US did wrong.

https://www.wabe.org/president-trump-calls-president-carter-to-talk-china/

And on Saturday evening, Trump called Carter to talk about it. It was the first time they’d spoken, Carter said. He said Trump said he is particularly concerned about how China is “getting ahead of us.”

Carter agreed that’s true.

“And do you know why? I normalized diplomatic relations with China in 1979. Since 1979 do you know how many times China has been at war with anybody? None. And we have stayed at war,” he said.

The U.S., Carter said, has been at war for all but 16 years of its 242-year history. (China and Vietnam actually fought a brief border war in early 1979, weeks after normalization of U.S.-China relations.)

He called the United States “the most warlike nation in the history of the world,” because of a tendency to try to force others to “adopt our American principles.”

Carter suggested that instead of war, China has been investing in its own infrastructure, mentioning that China has 18,000 miles of high-speed railroad.

“How many miles of high-speed railroad do we have in this country?”

Zero, the congregation answered.

“We have wasted I think $3 trillion,” Carter said of American military spending. “… It’s more than you can imagine. China has not wasted a single penny on war and that’s why they’re ahead of us. In almost every way.

“And I think the difference is if you take $3 trillion and put it in American infrastructure you’d probably have $2 trillion leftover. We’d have high-speed railroad. We’d have bridges that aren’t collapsing, we’d have roads that are maintained properly. Our education system would be as good as that of say South Korea or Hong Kong.

[/quote]

There is no way this crap is real.  [/quote]

Seriously, whomever posted it is either stupid, evil or a foreign agent.[/quote]

China can't wait to see US start a war with Iran or somewhere else.  Then China will have another 10-year golden opportunity to develop itself.[/quote]
Psst, China is already developing itself
 - and buying up American real estate and businesses.[/quote]

Yes, we will probably end up in a pointless war in Iran that destroys our international reputation and fractures the Atlantic alliance.  And yes, we do have a giant imbecilic bully as a President who is leading us to ruin and doesn't care about us.

But what's also true is that China has not developed yet.  That local capital doesn't trust Chinese institutions and desperately wants hard currency.  That even with the amazing recent growth there are still not enough jobs for everyone.  That wages and margins are already exceedingly low.  That the shadow banking system has run up a huge amount of debt and everyone is exposed to a cascading collapse of defaults and bankruptcies.

A full trade war hit would be devastating to China, and cashing in the treasuries would only make it worse.  It would set things back a decade, assuming there was no political disruptions.  It's economic nuclear war.

Of course, it would seriously hurt the US economy as well and set us back at least 5 years.  Farm country would be devastated and consumer prices would increase substantially, hitting the poorest and most rural first.  There'd be debt issues, foreclosures and bankruptcies and we'd have to cut interest rates again.  There would definitely be a recession.

Despite all that we'd still seem the best worst option.  Between capital flight and China selling treasuries our relative purchasing power would stay strong. We'd survive.

Which brings us back to the beginning.  We have a spoiled brat as a President.  He doesn't care about us, he really doesnt care about China, and he needs the distraction/show of strength.  The worst part is that he is willing to sacrifice us unless he gets something he can claim as a win.[/quote]

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