Because the United States showed just a little sign of life and challenged China's dumping of tires in yet another unfair trade practice, the main stream media screams absurdities.
Take this headline Treasuries Gain as U.S.-China Trade Tensions Threaten Recovery and this one Yen Rises Versus Euro on Signs Trade Protectionism Increasing .
What really happened? China was dumping tires to U.S. markets in order to destroy and capture yet another good by producing under cost, flooding the market to drive down prices temporarily and plain put U.S. tire makers out of business.
China has done this repeatedly and there is nothing free trade about these techniques. China also manipulates it's currency to the point it can be attributed to almost all of the China-U.S. trade deficit.
Recall China is 83% of the non-oil U.S. trade deficit.
So, hello, isn't it a good idea to revitalize U.S. manufacturing and the economy? Anyone notice that the trade deficit subtracts from the U.S. economy? Anyone notice the U.S. unemployment rate or how wages have dropped about 5% this year? Does Bloomberg believe the U.S. will only recover by destroying yet another American industry?
So, now it is protectionist to stop a nation from unfairly trying to wipe out your economy?
These scare tactic headlines are just that. What are they trying to do?
MNC and Wall Street PR are in high gear with this one.
Blaming the downside opening of stock market and the end of the world.
There are editorials criticizing the decision in every major business publication - pick your poison.
The Administration needs to stand strong on this one.
RebelCapitalist.com - Financial Information for the Rest of Us.
RebelCapitalist.com - Financial Information for the Rest of Us.
exactly
firstly I doubt the U.S. is importing that many auto parts but more to the point, China is not going to start a "trade war" over tires. there is no way they would risk it because firstly they dominate U.S. trade (with more unfair practices) and also they own so many U.S. Treasuries, which if the value decreases they lost money.
So, this is clearly a MSM manipulation of fear. You sure don't see this fear machine come out in force when the EU win's a complaint or any other country.
Here is a little more background on auto parts
From TradeReform.org:
Why don't we hear the "sky is falling" from 'free traders' when China does something like that?
RebelCapitalist.com - Financial Information for the Rest of Us.
RebelCapitalist.com - Financial Information for the Rest of Us.
no kidding, clearly "lobbyist" written reporting on trade
They completely ignore China's tariff schedule. I have a major question too....why is China, supposedly scheduled to be the world's most powerful and largest economy in 5 years...
classified as an "emerging economy" which gives it the ability to set tariffs and so on much more than the United States?
It's bullshit they are an "emerging economy"...how can a nation be "emerging" when they are about to take over the entire world?
I mean this is incredible and it's only been 9 years since the China PNTR (trade agreement) which shows just how biased that is....they have managed to become 83% of the U.S. trade deficit, often by taking our industries...in this short of a time period.
want to read something ridiculous?
Believe this or not, this WSJ post attacking the Buy America provision was put on the front page of HuffPo Business.
It's pure spin. Only at the end does it acknowledge Canada has had "Buy Canada" provisions since the 1990's.