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The Chinese continue to take advantage of the one-way trade policy currently in place by increasing the tariffs and duties on US automobiles.
From The New York Times article (linked below):
"Because of the high Chinese tariffs and taxes already in place, the vehicles are sold only in the thousands or even hundreds in China, and only to the most affluent. (A Jeep Grand Cherokee that begins at $27,490 at dealerships in the United States costs $85,000 or more in China.)"
"China’s import tariff is much higher than those of other big auto manufacturing nations. The United States, for example, assesses a tariff of 2.5 percent on imported cars, minivans and S.U.V.’s. "
The strategy is beautiful. To get around the taxes manufacturers must established manufacturing facilities in China including sources of supply. Then, once established, they can produce the cars there and send them back to the US while only having to pay a 2.5 tariff%.
Why are we allowing this to happen? We should be demanding our elected officials start protecting our future and stop selling out our country.
Many have argued that our labor costs are too high to compete in China. Evidently we would have to make the total product for 1/3 of the cost of the Chinese in order to overcome the import duty and tax barrier disadvantage.
Our trade policy with China is putting our country on a path to poverty.
Gee, and some people argue that China's "success" is due to "free" trade? It's amazing how people still cheer on China's thuggish conquest of the global market.
Gee, and some people argue that China's "success" is due to "free" trade? It's amazing how people still cheer on China's thuggish conquest of the global market.
Usually those same folks are involved in importing Chinese (etc.) cheap products and selling them at full US retail.
Just bs-er's turning a buck, and quite will to F-US.
I am finding a very high correlation between free-traders and free-traitors.
The Chinese have had high tariffs on US autos even before the tire dumping issue. The Chinese were dumping tires. Now they are dumping solar panels on the world market. Producers were left with few options and many moved production to China. The Chinese government demands technology sharing as a condition of setting up shop. Now we are witnessing the loss of meaningful participation in the next great industrial/business revolution. Germany won't play their game since the the Chinese have stolen their proprietary knowledge of products manufactured for German companies in China.
The Germans will come out ahead in the long run even though they are feeling the pain now.
We will continue to sell out our future as our government placates the "stakeholders" ie. money pimps.
The people and companies making big money off this unhealthy arrangement don't care about the long-term consequences for America as long as they can back up the truck now.
The masses have been fed high doses of cheap goods largely from China so now they are addicted and many have incomes that have been driven down so low that they have no alternative.
We will create a self-fulfilling path to poverty if immediate action isn't taken to change direction.
Last edited by Lincolnian; 12-16-2011 at 03:59 PM..
It's very disappointing to not see more discussion about this. It is the #1 issue that is comfronting our economy, but few are even willing to discuss it. The response by the Obama administration has been very poor. It follows a pattern of allowing our international trade partners to do whatever they want to protect their own economies, while continuing to take millions of jobs from the U.S. Most of the republicans candidates are equally as weak on this topic, with the only exception being Mitt Romney.
It's very disappointing to not see more discussion about this. It is the #1 issue that is comfronting our economy, but few are even willing to discuss it. The response by the Obama administration has been very poor. It follows a pattern of allowing our international trade partners to do whatever they want to protect their own economies, while continuing to take millions of jobs from the U.S. Most of the republicans candidates are equally as weak on this topic, with the only exception being Mitt Romney.
You would see prices rise substantially if anything was done and significant shortgages. Go to any store these days, I would bet a good 80% of US consumer product in local stores are from one country and one country only: China. China owns the US as far as goods go, everything up to including rare earth metals which are needed for all our new fangled tech gadgets. China owns 99% of rare earth production.
US corps have shipped all the industrial manufacturing overseas to China, now what they are shipping is the machines and tech knowledge that allow for a country to build their own manufacturing machines. The industrial base that allowed us to out produce in WWII is no longer here in the US - it's in China.
While we are off flying drones over Iran China is reinvesting our dollars from trinkets that we buy into assets that produce.
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