Hmm, I wonder how this happened? With China’s currency at 6 year lows, blatantly manipulated lower, it should come as no surprise to anyone out there that the greedy fucking Chinese now dominate world exports more now than in any time in history, according to the IMF.
“All the talk we have heard over the last few years about China losing its global competitive advantage is nonsense,” said Shane Oliver, head of investment strategy at AMP Capital Investors in Sydney. “This will all further fuel increasing trade tensions as already evident in the U.K. with the Brexit vote and in the U.S. with the support for Trump’s populist protectionist platform.”
From steel to solar, the Chinese government is complicit in subsidizing Chinese firms in order to flood markets, drive out competition, and seize share. Like fucking baby imbecile morons, western nations have stayed idle, watching these things transpire–because…oligarchy.
The cost to produce goods is very cheap inside of China’s slave factories. US corporations enjoy the splendor these factories afford them and would prefer to keep the status quo, in spite of repetitive anti-trade, anti intellectual property rights exhibited by the Chinese for more than two decades strong. This, as you know, has accelerated, greatly, over the past decade.
The government is subsidizing higher technology industries including new advanced information technology, robotics, and new energy vehicles under its “Made in China 2025” plan. More is to come as President Xi Jinping’s blueprint envisions global competitiveness within a decade in 10 industries from machine tools and robots to advanced railway equipment and medical devices.
China increasingly is turning into an economic rival as it pushes to produce higher-value exports, said German Chancellor Angela Merkel on a trip to the nation in June. Those stern words from the leader of China’s fifth biggest trade partner pale in comparison with the rhetoric from Trump, who has accused China of raping the U.S. in “the greatest theft in the history of the world.”
“Political support for open trade and investment is evaporating globally and no one has more to lose than China,” said David Loevinger, a former China specialist at the U.S. Treasury who is now an analyst at fund manager TCW Group Inc. in Los Angeles. “China has become the bogey man for opponents of globalization.”
Sometimes the purported ‘boogeyman’ is an actual boogeyman.
Makes you think – should we really build a wall to keep out the quiet, hard-working Mexican and other workers doing the jobs that entitled Millennials feel are below them (re: I am going to be a rapper) AND should we successfully shut out these slave factory nations, the US masses would be up a creek because most very much depend on low-cost goods and services. CPI would surely rocket higher if these policies are successful, no?
“entitled millennials”
please explain what reasoning you have to support it.
millennials are born into the worst economic backdrop in nearly 100 years, real median incomes are down, there is more global competition for jobs than ever before in history due to open markets, equity markets are allegedly rigged, interest rates are disastrously low, real estate is fucking absurdly expensive and more millennials now live with their parents than any generation in modern history, not because entitlement, because its impossible to afford it.
for some reason, “entitlement” doesn’t seem to be the word I’m thinking of. more like “disadvantaged”
if someone older, lets say average baby boomer age, called a millennial “entitled” and then asked them “how do you program functions into this excel sheet? id tell them to go figure it out on their own. or simply “google it”
Id say the baby boomers with their pensions and prospects for an actual retirement are “entitled”