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U.S. lawmakers urge action on China yuan policy

Ya, maybe I go China set up cofe can make more money than trading in STI that to-date, I still at a lost :(

 

Hey.... Wrong, wrong, wrong. They buy even finished products from Singapore. For clear example... OSIM products, BREADTALK bread, OLDCHANGKIE snack etc. Ha. ha.. ha...

out-of-the-box      ( Date: 16-Mar-2010 12:06) Posted: The fundamental is trade balance. If A keep selling and B keep buying, than it will end up BIG BIG problem. As for Singapore, we import almost everything so a buying nation. The key factor to us is who will be buying from us? It has been US. Do you think China will buy from us? Unless for raw material to Australia, Malaysia, Indonesia, Middle East and they can probably make anything to sell to you at 1/3 of your price.

 

Maybe China shd tell the US "Ok, I will appreciate the CNY but ONLY AFTER I SELL OFF ALL THE T-BILLS"... hahaha.. that will be interesting!

 

The US just want a win win situation for itself. It wants to eat the cake with the left hand and still wants the cake to be in the right hand.

battouchai      ( Date: 16-Mar-2010 11:56) Posted: I believe the Americans are just a bunch of hypocrites. They got themselves and the rest of the world into the current mess. Now they wanna point finger at China and wanna indirectly gain control via this call for appreciation of the CNY. Isn't calling for the CNY appreciation akin to protecting their own domestic mkt? So what is wrong if China is to keep the CNT undervalued to protect their exports? Just my 1/2 cts worth!

 

If happens that Chinese Yuan appreciates against the US$, China will lose billions of dollars. My suggestion for all country not to support US$ and let the US$ appreciates, this is a wake up call for US.

 

The fundamental is trade balance. If A keep selling and B keep buying, than it will end up BIG BIG problem. As for Singapore, we import almost everything so a buying nation. The key factor to us is who will be buying from us? It has been US. Do you think China will buy from us? Unless for raw material to Australia, Malaysia, Indonesia, Middle East and they can probably make anything to sell to you at 1/3 of your price. 

 

TRADE AND CAPITALISM  are  BIASED 

with only ONE WINNER WHO TAKES ALL.

wOrld leaders all   prEtEnd  that  TRADE and CAPITALISM  distribute  WEALTH FAIRLY across all.

It is nOt  TRUE.

iT iS a BiG LiE

iT iS SCAM.

 

 

niuyear      ( Date: 16-Mar-2010 11:32) Posted: ""It called on the administration to include China in its currency manipulation report, due out next month, and urged the Commerce Dept. "to apply the U.S. countervailing duty law in defense of American companies who have suffered as a result of the currency manipulation.""   Hahaha!  If Amercians got no jobs, they can go China and work..........China plentiful of jobs avaialble.

 

I believe the Americans are just a bunch of hypocrites. They got themselves and the rest of the world into the current mess. Now they wanna point finger at China and wanna indirectly gain control via this call for appreciation of the CNY. Isn't calling for the CNY appreciation akin to protecting their own domestic mkt? So what is wrong if China is to keep the CNT undervalued to protect their exports? Just my 1/2 cts worth!

 

If US could not devalue USD itself, what is the logic asking other countries to devalue their currencies? Similarly logic applied for revalue their currencies too!

hotokee      ( Date: 16-Mar-2010 11:38) Posted: But in ACTUAL FACT the US cannot devalue its currency because it has many things to take care of, the spending, the bailouts, the space programmes, the middle east programmes and thousand of other things they have in mind.  If devalue, then they cannot do things at all!!!!

 

You are right, US should learn like other countries Philippine, Thailand, and Indonesia Peoples all do so!

niuyear      ( Date: 16-Mar-2010 11:32) Posted: ""It called on the administration to include China in its currency manipulation report, due out next month, and urged the Commerce Dept. "to apply the U.S. countervailing duty law in defense of American companies who have suffered as a result of the currency manipulation.""   Hahaha!  If Amercians got no jobs, they can go China and work..........China plentiful of jobs avaialble.

 

But in ACTUAL FACT the US cannot devalue its currency because it has many things to take care of, the spending, the bailouts, the space programmes, the middle east programmes and thousand of other things they have in mind.  If devalue, then they cannot do things at all!!!!

 

No need to print la... just like Malaysia peg at certain level...

nickyng      ( Date: 16-Mar-2010 11:34) Posted: actually US is clever lah...it wanna use China as a whipping boy for coming election...juz like Msia whipping Spore loh...USA can just print more $$$ then AUTOMATICALLY it's currency will be devalued against ALL other curriencies liao loh! :P Hulumas      ( Date: 16-Mar-2010 11:12) Posted: So eassy solution, infact US can lead its currency undervalue relative to RMB too in revenge! As such RMB automatically over valued against USD then

 

actually US is clever lah...it wanna use China as a whipping boy for coming election...juz like Msia whipping Spore loh...USA can just print more $$$ then AUTOMATICALLY it's currency will be devalued against ALL other curriencies liao loh! :P

Hulumas      ( Date: 16-Mar-2010 11:12) Posted: So eassy solution, infact US can lead its currency undervalue relative to RMB too in revenge! As such RMB automatically over valued against USD then! nickyng      ( Date: 16-Mar-2010 10:41) Posted: Wonder wat impact will it hv on stocks globally? hee... :)  ======================================= LOS ANGELES (MarketWatch) - A bipartisan group of 130 U.S. lawmakers issued an open letter Monday, calling on the Obama administration to label China a currency manipulator and impose sanctions. In the letter addressed to Treasury Secretary Tim Geithner and Commerce Secretary Gary Locke, the Congress members said the yuan was overvalued, resulting in an unfair subsidy for Chinese exporters. "The impact of China's currency manipulation on the U.S. economy cannot be overstated," the letter said. "U.S. exports to the country cannot compete with the low-priced Chinese equivalents, and domestic American producers are similarly disadvantaged in the face of subsidized Chinese imports." It called on the administration to include China in its currency manipulation report, due out next month, and urged the Commerce Dept. "to apply the U.S. countervailing duty law in defense of American companies who have suffered as a result of the currency manipulation." It added that such moves "must be done in concert with intense diplomatic efforts, not only with China but also with the IMF and multi-laterally with other countries." See full text of letter. One of the letter's authors, Rep. Mike Michaud, D- Maine, said in a statement that the status quo could threaten U.S. businesses and impede recovery in the labor market. "If the administration fails to act on this issue it will hold back our economic recovery and hurt the ability of American small businesses and manufacturers to increase their production, keep their doors open, and create jobs," Michaud said in a statement on his Web site. The letter prompted words of support from the top U.S. labor-union grouping, the AFL-CIO. A blog on the AFL-CIO Web site cited Peterson Institute for International Economics director Fred Bergsten as saying the value of the yuan "has cost between 1.5 million and 3 million good American manufacturing jobs." The remarks from the lawmakers and organized labor were the latest in the run-up to the administration's currency report, due April 15. See full story on U.S. opposition to China's yuan policy. It also followed comments by Chinese Premier Wen Jiabao, saying that they yuan isn't undervalued and voicing opposition "to the practice of mutual finger-pointing among countries or taking strong measures to force other countries to appreciate their currencies." See full story on Wen's comments on the yuan. China has kept the yuan's value steady against the dollar since mid-2008 after a period of slow appreciation, though some economists say that as inflation picks up in China, Beijing may decide to let its currency rise to keep prices from rising too quickly. See story on economists' forecast on when the yuan will appreciate.

 

""It called on the administration to include China in its currency manipulation report, due out next month, and urged the Commerce Dept. "to apply the U.S. countervailing duty law in defense of American companies who have suffered as a result of the currency manipulation.""

 

Hahaha!  If Amercians got no jobs, they can go China and work..........China plentiful of jobs avaialble.

 

 

 

In short, you are buying against the Sing dollar

hotokee      ( Date: 16-Mar-2010 11:24) Posted: It happens that if Chinese Yuan appreciates against the US$, I will make alot of money because I bought too much yuans against the dollar. And if the US$ appreciates more, the more money I will make, because I keep plenty of US Dollars too. So either the yuan or the dollar must appreciate, if not I also want to petitition the adminsitration. Hahaha.

 

It happens that if Chinese Yuan appreciates against the US$, I will make alot of money because I bought too much yuans against the dollar.

And if the US$ appreciates more, the more money I will make, because I keep plenty of US Dollars too.

So either the yuan or the dollar must appreciate, if not I also want to petitition the adminsitration. Hahaha.

 

So eassy solution, infact US can lead its currency undervalue relative to RMB too in revenge! As such RMB automatically over valued against USD then!

nickyng      ( Date: 16-Mar-2010 10:41) Posted: Wonder wat impact will it hv on stocks globally? hee... :)  ======================================= LOS ANGELES (MarketWatch) - A bipartisan group of 130 U.S. lawmakers issued an open letter Monday, calling on the Obama administration to label China a currency manipulator and impose sanctions. In the letter addressed to Treasury Secretary Tim Geithner and Commerce Secretary Gary Locke, the Congress members said the yuan was overvalued, resulting in an unfair subsidy for Chinese exporters. "The impact of China's currency manipulation on the U.S. economy cannot be overstated," the letter said. "U.S. exports to the country cannot compete with the low-priced Chinese equivalents, and domestic American producers are similarly disadvantaged in the face of subsidized Chinese imports." It called on the administration to include China in its currency manipulation report, due out next month, and urged the Commerce Dept. "to apply the U.S. countervailing duty law in defense of American companies who have suffered as a result of the currency manipulation." It added that such moves "must be done in concert with intense diplomatic efforts, not only with China but also with the IMF and multi-laterally with other countries." See full text of letter. One of the letter's authors, Rep. Mike Michaud, D- Maine, said in a statement that the status quo could threaten U.S. businesses and impede recovery in the labor market. "If the administration fails to act on this issue it will hold back our economic recovery and hurt the ability of American small businesses and manufacturers to increase their production, keep their doors open, and create jobs," Michaud said in a statement on his Web site. The letter prompted words of support from the top U.S. labor-union grouping, the AFL-CIO. A blog on the AFL-CIO Web site cited Peterson Institute for International Economics director Fred Bergsten as saying the value of the yuan "has cost between 1.5 million and 3 million good American manufacturing jobs." The remarks from the lawmakers and organized labor were the latest in the run-up to the administration's currency report, due April 15. See full story on U.S. opposition to China's yuan policy. It also followed comments by Chinese Premier Wen Jiabao, saying that they yuan isn't undervalued and voicing opposition "to the practice of mutual finger-pointing among countries or taking strong measures to force other countries to appreciate their currencies." See full story on Wen's comments on the yuan. China has kept the yuan's value steady against the dollar since mid-2008 after a period of slow appreciation, though some economists say that as inflation picks up in China, Beijing may decide to let its currency rise to keep prices from rising too quickly. See story on economists' forecast on when the yuan will appreciate.

 

Wonder wat impact will it hv on stocks globally? hee... :)


 =======================================

LOS ANGELES (MarketWatch) - A bipartisan group of 130 U.S. lawmakers issued an open letter Monday, calling on the Obama administration to label China a currency manipulator and impose sanctions.

In the letter addressed to Treasury Secretary Tim Geithner and Commerce Secretary Gary Locke, the Congress members said the yuan was overvalued, resulting in an unfair subsidy for Chinese exporters.

"The impact of China's currency manipulation on the U.S. economy cannot be overstated," the letter said. "U.S. exports to the country cannot compete with the low-priced Chinese equivalents, and domestic American producers are similarly disadvantaged in the face of subsidized Chinese imports."

It called on the administration to include China in its currency manipulation report, due out next month, and urged the Commerce Dept. "to apply the U.S. countervailing duty law in defense of American companies who have suffered as a result of the currency manipulation."

It added that such moves "must be done in concert with intense diplomatic efforts, not only with China but also with the IMF and multi-laterally with other countries." See full text of letter.

One of the letter's authors, Rep. Mike Michaud, D- Maine, said in a statement that the status quo could threaten U.S. businesses and impede recovery in the labor market.

"If the administration fails to act on this issue it will hold back our economic recovery and hurt the ability of American small businesses and manufacturers to increase their production, keep their doors open, and create jobs," Michaud said in a statement on his Web site.

The letter prompted words of support from the top U.S. labor-union grouping, the AFL-CIO. A blog on the AFL-CIO Web site cited Peterson Institute for International Economics director Fred Bergsten as saying the value of the yuan "has cost between 1.5 million and 3 million good American manufacturing jobs."

The remarks from the lawmakers and organized labor were the latest in the run-up to the administration's currency report, due April 15. See full story on U.S. opposition to China's yuan policy.

It also followed comments by Chinese Premier Wen Jiabao, saying that they yuan isn't undervalued and voicing opposition "to the practice of mutual finger-pointing among countries or taking strong measures to force other countries to appreciate their currencies." See full story on Wen's comments on the yuan.

China has kept the yuan's value steady against the dollar since mid-2008 after a period of slow appreciation, though some economists say that as inflation picks up in China, Beijing may decide to let its currency rise to keep prices from rising too quickly. See story on economists' forecast on when the yuan will appreciate.