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View Full Version : Is China caving in for US Pressure??



Jay
02 Nov 03,, 07:44
China Plans to Purchase U.S. Goods in a Big Way

By Peter S. Goodman
Washington Post Foreign Service
Wednesday, October 29, 2003; Page A01

BEIJING, Oct. 28 -- China, responding to months of sustained pressure from the Bush administration to reduce its $103 billion trade surplus with the United States, will soon announce the purchase of billions of dollars worth of American goods, including airplanes, jet engines and auto parts, U.S. and Chinese trade officials and company executives said Tuesday.

Rest of the article is here (http://www.washingtonpost.com/wp-dyn/articles/A31987-2003Oct28.html)

Jay
02 Nov 03,, 07:47
China To Revalue Yuan By 10-15%
HONG KONG, OCT 30: American Express Bank’s senior global economist said on Thursday the Chinese government would boost the value of the yuan up to 15 per cent next year to prevent its thriving economy from overheating.

Rest is here (http://www.financialexpress.com/fe_full_story.php?content_id=45167)

Praxus
02 Nov 03,, 14:15
Ok so why is it a good thing for Americans to have to pay more money for products just because the Government is scared of some trade deficit which does not hurt the economy.

roshan
02 Nov 03,, 16:25
i think its because chinas making more money out of the us then vice versa.

i think the reason that us want the yuan revalued is to ease competition for local products from chinese dumping.

Praxus
02 Nov 03,, 16:33
Oh ok, I see.

Ray
15 Nov 03,, 03:13
There is more to it than waht meets the eye.

Even if it 'hurts' the US, it will encourage in every way for Chine to convert to a captilaist way. The sudden transformation from a womb to the tomb philosophy [which actually makes the citizenry complacent] to 'fighting for one's existence' will create a great social divide. This will lead to discontent and then.......:cry

Therefore, the US wins in the long run!:lol

Great for the US, what?