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Debates Forum

  1. Standard membervivify
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    02 Apr '18 14:331 edit
    http://money.cnn.com/2018/04/02/news/economy/china-us-tariffs-trade/index.html

    China hits the United States with tariffs on $3 billion of exports

    China is showing the United States that it will make good on its trade threats.

    The Chinese government said that tariffs on about $3 billion worth of US imports are going into effect Monday, hitting 128 products ranging from pork, meat and fruit to steel pipes.

    It's the latest move in escalating tensions between the world's two largest economies, which some experts fear could turn into a trade war.
  2. Standard membervivify
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    02 Apr '18 14:34
    This dumb f*** wanted a trade war, he got it.
  3. Joined
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    02 Apr '18 14:572 edits
    China runs massive surpluses at the US's expense.

    Surpluses are highly damaging to other economies.

    The U.S imports tens of billions more in goods from China than vice versa. A trade war will only help the United States.
  4. Joined
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    02 Apr '18 15:04
    Originally posted by @ashiitaka
    China runs massive surpluses at the US's expense.

    Surpluses are highly damaging to other economies.

    The U.S imports tens of billions more in goods from China than vice versa. A trade war will only help the United States.
    How does making it more expensive for US consumers to buy goods help the US? Tariffs are always stupid. If other countries can produce things cheaper the correct solution is to enjoy cheaper goods.
  5. Subscriberkmax87
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    02 Apr '18 15:07
    Originally posted by @vivify
    This dumb f*** wanted a trade war, he got it.
    Hey no-one knows business like Trump. This is just part of the negotiation. He'll have the Chinese eating out of his hand soon.
  6. Joined
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    02 Apr '18 15:14
    Originally posted by @quackquack
    How does making it more expensive for US consumers to buy goods help the US? Tariffs are always stupid. If other countries can produce things cheaper the correct solution is to enjoy cheaper goods.
    China's massive surpluses at the US's expense damage the US's balance of payments far more than any increases in prices on Chinese imports (if Chinese producers decide to pass the burden of the tax onto consumers, which is not a given considering how much it could damage demand for their goods). Besides which, spending in the domestic economy is far preferable to spending in an overseas economy - imports are a net leakage. Because China exports far more to the U.S. than vice versa, tariffs will help America correct the trade deficit.

    The fact is that China has intellectual property laws that enable it to run these massive surpluses at the expense of other countries. They need to stop doing this, and threatening their goods with tariffs is a way to do so.
  7. Joined
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    02 Apr '18 15:20
    Originally posted by @ashiitaka
    China's massive surpluses at the US's expense damage the US's balance of payments far more than any increases in prices on Chinese imports (if Chinese producers decide to pass the burden of the tax onto consumers, which is not a given considering how much it could damage demand for their goods). Besides which, spending in the domestic economy is far prefe ...[text shortened]... tries. They need to stop doing this, and threatening their goods with tariffs is a way to do so.
    When you go shopping you want the best goods for a certain price. Where it is produced is completely irrelevant. Tariffs simply ruin the opportunity to good good deals.
  8. Germany
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    02 Apr '18 15:24
    Originally posted by @ashiitaka
    Surpluses are highly damaging to other economies.
    Source for that claim?
  9. Joined
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    02 Apr '18 15:32
    Originally posted by @quackquack
    When you go shopping you want the best goods for a certain price. Where it is produced is completely irrelevant. Tariffs simply ruin the opportunity to good good deals.
    Of course where the good is produced matters. Having a negative balance of payments is a very, very bad thing. It leads to awful economic problems. You are looking at this issue from a narrow consumer's view that doesn't take into account what is good for the country as a whole. In economics, what is good for an individual is not necessarily what is good for the economy. It is good for an individual to cheat the rules on tax, but if everybody did that then everyone is worse off through the inability of the government to pay for infrastructure.

    The same applies to purchasing goods. If every American bought cheaper Chinese goods instead of American goods, what would happen to American producers or manufacturers? Countries that have massive surpluses due to unfair trade practices need to change and tariffs on their exports is a good way to start.
  10. Joined
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    02 Apr '18 15:361 edit
    Originally posted by @kazetnagorra
    Source for that claim?
    As I recall, you repeatedly stated that a country's living standards determined its economic might and that therefore Greece is more economically powerful than China or Luxembourg is more economically mighty than the United States.

    When shown the ridiculousness of this argument, you refused to admit your error.

    I'm not here to teach simple economics.
  11. Germany
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    02 Apr '18 15:36
    Originally posted by @ashiitaka
    Of course where the good is produced matters. Having a negative balance of payments is a very, very bad thing. It leads to awful economic problems. You are looking at this issue from a narrow consumer's view that doesn't take into account what is good for the country as a whole. In economics, what is good for an individual is not necessarily what i ...[text shortened]... ue to unfair trade practices need to change and tariffs on their exports is a good way to start.
    The Netherlands has no automobile manufacturing, and all cars are imported from abroad. To what awful economic problems does this lead?
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    02 Apr '18 15:401 edit
    Originally posted by @kazetnagorra
    The Netherlands has no automobile manufacturing, and all cars are imported from abroad. To what awful economic problems does this lead?
    You clearly don't know what balance of payments means.

    It takes into account all imports and exports. Narrowing it to one industry (automobiles) is incorrect.

    The Netherlands is a net export economy.
  13. Germany
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    02 Apr '18 15:41
    Originally posted by @ashiitaka
    As I recall, you repeatedly stated that a country's living standards determined its economic might and that therefore Greece is more economically powerful than China or Luxembourg is more economically mighty than the United States.

    When shown the ridiculousness of this argument, you refused to admit your error.

    I'm not here to teach simple economics.
    I did not make such statements. Possibly your confusion stems from the observation that how well a certain society is doing economically (i.e. its standard of living) is not equal to the the geopolitical influence of representatives of that society.
  14. Joined
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    02 Apr '18 15:46
    Originally posted by @kazetnagorra
    I did not make such statements. Possibly your confusion stems from the observation that how well a certain society is doing economically (i.e. its standard of living) is not equal to the the geopolitical influence of representatives of that society.
    No, you did. Repeatedly. Over and over and over. You also stated that the EU's high average standard of living is why the UK should not be leaving. I pointed out that its high standard of living does not mean it will not lose relevance on the world stage as emerging markets grow faster than it. You refused to acknowledge this.
  15. Germany
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    02 Apr '18 15:46
    Originally posted by @ashiitaka
    You clearly don't know what balance of payments means.

    It takes into account all imports and exports. Narrowing it to one industry (automobiles) is incorrect.

    The Netherlands is a net export economy.
    U.S. states have trade surpluses/deficits with respect to other U.S. states. To what "awful" problems does this lead, and could those problems be resolved by implementing trade barriers within the U.S.?
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