China's Currency Manipulation is Harming America. Fair Trade Would Restore US Jobs and Prosperity
Economy | Information | History | Online | Facts | World | Global | Money
From http://VideoThink.net : US-China trade should be mutually beneficial. Unfortunately, China has undervalued its currency against the US dollar, to gain an unfair advantage in world trade. It's non-tariff barriers limit imports from the USA. And it has obstructed investment by foreign companies in China. Since entering the World Trade Organization in 2001, China has abused free trade with a mercantilist trade strategy that has severely damaged the economies of the USA, Europe, and nations around the world. Yet under both President Obama and President Bush, the United States Treasury Department has consistently refused to name China as a currency manipulator. This has prevented Congress from imposing import duties on Chinese goods. The result has been enormous trade deficits for the USA, huge job losses and chronic unemployment, a reduction in USA government tax revenues, and higher social safety net payments. This has worsened the stubborn US budget deficits and the ballooning national debt. Meanwhile, the Chinese economy has grown rapidly, year after year. In manipulating the renminbi / yuan, China has amassed staggering foreign currency reserves and a massive hoard of US Treasury bonds. It may be trying to hide these in Belgium's EuroClear bank, to disguise its currency manipulation. US Corporations have contributed to this problem by relocating their manufacturing facilities to China, to exploit China's cheap labor. This has enriched US corporations with soaring profits, while impoverishing many Americans who are unemployed or under-employed. China is now using its export wealth to acquire strategic natural resource and high tech industries in the USA, Europe, and worldwide. The long-term consequences of China's currency war for the USA could be very serious, and all Americans should be very concerned. Clarification: By 2013, China's money supply was 9 times as large as it was in 2000. That translates to 800% growth. In comparison, the US money supply only doubled. Remember to click the Like button. Thanks! Link to this video: youtube.com/watch?v=ENnhwgfFZzE Related links: Cumulative trade deficit with China -- Ron Rimkus http://blogs.cfainstitute.org/investor/2012/09/14/why-the-current-account-deficit-helps-explain-the-economics-of-qe3-2/ China Economic and Security Review Commission 2014 Report http://origin.www.uscc.gov/Annual_Reports/2014-annual-report-congress Stop Currency Manipulation and Create Millions of Jobs http://www.epi.org/publication/stop-currency-manipulation-and-create-millions-of-jobs/ History Shows That Sanctions Are Needed http://www.epi.org/publication/pm164/ Treasury report on currency manipulation http://www.treasury.gov/resource-center/international/exchange-rate-policies/Documents/2014-10-15 FXR.pdf Various Employment charts http://www.bls.gov/web/empsit/cps_charts.pdf Foreign currency reserves: http://data.worldbank.org/indicator/FI.RES.TOTL.CD?order=wbapi_data_value_2013+wbapi_data_value+wbapi_data_value-last&sort=desc Unemployment Charts: http://www.shadowstats.com/alternate_data/unemployment-charts National Employment Law Project http://www.nelp.org/page/-/Reports/NetChange.png?nocdn=1 BLS Glossary http://www.bls.gov/bls/glossary.htm List of USA companies employing people in China http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/popups/exporting.america/frameset.exclude.html WTO Charts http://www.wto.org/english/res_e/statis_e/its2014_e/its14_highlights1_e.pdf How Much U.S. Debt Does China Hold? The U.S. Isn’t Sure http://blogs.wsj.com/economics/2014/08/15/us-treasury-unsure-exactly-how-much-us-debt-china-holds/ Major Foreign Holders Of Treasury Securities http://www.treasury.gov/ticdata/Publish/mfh.txt and http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/index.aspx Euroclear article http://www.washingtontimes.com/news/2014/jun/29/baffled-by-belgium-burst-of-us-bond-buying-raised-/?page=all Is Euroclear holding US bonds on behalf of China? http://asia.nikkei.com/print/article/27820 Peterson China Foreign Reserves http://blogs.piie.com/china/?p=79 M2 Money Supply http://www.investopedia.com/terms/m/m2.asp New York Times: China's money supply Growth http://www.nytimes.com/2014/01/16/business/international/china-dwarfs-us-in-monetary-stimulus.html?_r=0 Federal Reserve Economic Data Charts (FRED) http://research.stlouisfed.org/fred2/graph/ Currency manipulation and the Trans Pacific Partnership http://www.foreignaffairs.com/articles/142784/c-fred-bergsten/the-truth-about-currency-manipulation It Is Time To Stand Up To China http://www.forbes.com/sites/mikecollins/2015/01/28/it-is-time-to-stand-up-to-china/ Treasury Fails To Name China as a Currency Manipulator for the 12th Time http://www.epi.org/blog/jack-lew-sees-evil-treasury-fails-china/ Video by Harvard-educated economist Peter Navarro: Death by China http://deathbychina.com/
Comments
-
can anyone explain why is china's inflation always below 3% despite 900% increase in printing money from 2000-2013 as the video suggests?
-
Thank you, thank you for publishing this video. It helps to make sense of why everything is made in China and the job situation in our country.
-
Nice excuse!
-
Trump will sort them out
-
very misleading the graph you are using for the labor participation rate deceivingly set up to make a 4point drop in 24 years look like its falling off a cliff...the labor participation rate is NOT an indicator of employment as it counts those not in the labor force such as children the disabled those in prison students the elderly stay at home parents the very wealthy who don't work ect ..the main reason the rate is where it is today is because of the baby boomer generation retiring at a record pace..using this rate as an indicator of employment is not honest and makes you look to have an agenda
-
Chinese government has not suppressed it's currency for years. Since China's economic growth has slowed down, the capital is escaping. They are actually spending their reserves to support Chinese Yuan. That's why Obama hasn't accused China of currency manipulation for years.
-
One could argue that the world's financial and monetary system lead by the dollar is unfair and illegal to start with. America should be the richest and most happiest nation on earth; but since America chooses to use the wealth she has to build bombs, missiles and spend it on endless war on world domination and democratizing the world for a twisted sense of freedom,democracy and human rights; much of the world's problems is attributed to america's foreign policies. yes you can blame it on other countri like china, russia, north korea, Iran some one has got to be blame
-
Soviet Union did the same thing under the Stalin era, and later. "Wage compression" is a communist economic policy and it works well for the central planners.
-
Thanks for great explanation. This is only video so far that I was able to understand. Also, thanks for not including distracting background music. I wonder why very less views for this video compared to other no-information-fancy videos. Anyways, thanks again!
-
But wouldn't there be a downside to deliberately downvaluing your currency? It seems like this is too good of a strategy for China with no downside
-
Bull shot video, its China's choice and they're free what ever they wanna do with their currency, if u don't like it don't buy from them or devalue USD. How simple is that . Fuck off now
-
From what this video shows is that selling large amounts of U.S currency will devalue the currency and buying large quantities will raise it's value. But here is a huge mistake in the video. You said that China isn't selling it's huge U.S currency pot, rather it is secretly buying U.S bonds instead. So, the U.S isn't being devalued at all, because China isn't selling the currency, but buying bonds. However, from China's perspective, it is keeping it's currency value low, to make itself remain attractive in price for U.S companies, which has been the reason for it's enormous economic growth. So, one of the few conclusions i get is, is China buying U.S bonds, to maintain the U.S currency strong/keeping it from collapsing(rather than Americans thinking it is a way for China to move in on the U.S and take over) and to grow productively overtime. Either way, America has no business keeping a bias and fixed view on China this much for this long. What is happening in China could easily be happening to any country in Latin America if the U.S wanted to. Why China? Obviously for political reasons in that part of the hemisphere.
-
CHINA BANNED UNIONS AND THREW UP SUICIDE NETS EVERYWHERE TOO CATCH SLAVES WHEN THEY JUMP OFF THE FACTORY ROOF THERE TRAPPED IN. If Slavery was Legal Here we could compete easy with these scumbags
-
We will never move to solve this problem. Congress will never act because they don't need too in order to secure votes and stay in office. This subject is too complex and boring to most American voters when compared to other issues such as immigration, healthcare, and the national debt. What needs to happen, and eventually will happen, is for our country to tank.. HARD...then, after enough people suffer, many will wake up to the impact global trade with China has had on the loss of jobs in America and they'll start holding the Congress and the President responsible for solving the issues they were elected for.
-
how the illegal invasions of USA on other countries harm the world??
-
wow thanks for the video.Today i understood the yuan devaluation concept.Bt China by doing this 1day will face serious consequences
-
Is there anything to back up your statement that a healthy trade relationship involves equal imports/exports between countries?
-
so China screwed the USA 😂😂😂😂
-
Thank you so much for this VERY CLEAR presentation.
-
Trump 2016
13m 8sLenght
221Rating