China; Looking to retaliate against obama's Tire tariffs

[arctichomesteader]

Originally Posted by HappyTexan

Talk about eerie.

Hoover signed Smoot-Hawley in 1930..after the crash of 29.
We all know what happened next.

History really does repeat, doesn't it ?

But lol summers73, as most would say "it's different this time".

It is quite different this time. At this point if we don't start protecting our economy, our jobs, our economy will never recover. Free trade has been a disaster.

[arctichomesteader]

Originally Posted by HappyTexan

England was top dog til after WWII.
America was a creditor nation at the time and moved into top spot.

We are now where England was..

Don't think this story will end with the US retaining the #1 spot.

If they dump the dollar leading to heavy inflation it will be painful but at the same time it will destroy their ability to compete with domestic industry. They have been manipulating their currency, keeping it artificially low in value, in order to stay competitive. It may hurt in the short term but help us in the long run. I once feared that scenario like you but I'm convinced now that it may be the best thing that could happen to our country. It will bring back our own industry and lessen China's power over us.

As for China limiting food imports from us...good, they can barely feed themselves in a good year, their food is often contaminated, and their environment is dying from the heavy development and lack of environmental protection. They will be crawling on their hands and knees to foreign countries for food if they try it too long.