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Post by 101ABN on Jan 11, 2014 18:30:01 GMT -8
China became the world's largest trading nation in 2013, overtaking the US in what Beijing described as "a landmark milestone" for the country. China's annual trade in goods passed the $4tn (£2.4tn) mark for the first time last year according to official data, after exports from the world's second largest economy rose 7.9% to $2.21tn and imports rose 7.3% to $1.95tn. As a result total trade rose 7.6% over the year to $4.16tn. The US is yet to publish its 2013 trade figures, but with trade totalling $3.5tn in the first 11 months of the year, it is unlikely to beat China. The shift in the trading pecking order reflected China's rising global dominance, despite a slowdown in economic growth last year. www.theguardian.com/business/2014/jan/10/china-surpasses-us-world-largest-trading-nation |
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Post by warrior1972 on Jan 12, 2014 6:56:50 GMT -8
We did it to ourselves.
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Post by Sailor on Jan 12, 2014 7:17:00 GMT -8
I agree warrior, we indeed "did it to ourselves." The question now is what to do in response.
Manufacturing invariably shifts to locations where manufacturing cost per unit is lower. This is one reason a number of medical equipment suppliers have moved their plants from the US to Mexico. When I order wheelchairs from Invacare, our prime supplier for this commodity, I have to make allowances timewise to get the shipments through Customs.
As more and more manufacturing shifts not only to the PRC but to other low cost areas in the 3rd World I see matters becoming more and more complex.
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Post by warrior1972 on Jan 12, 2014 7:31:25 GMT -8
I agree warrior, we indeed "did it to ourselves." The question now is what to do in response. Manufacturing invariably shifts to locations where manufacturing cost per unit is lower. This is one reason a number of medical equipment suppliers have moved their plants from the US to Mexico. When I order wheelchairs from Invacare, our prime supplier for this commodity, I have to make allowances timewise to get the shipments through Customs. As more and more manufacturing shifts not only to the PRC but to other low cost areas in the 3rd World I see matters becoming more and more complex. WE are not the only ones, Old Sailor. The Japanese have long been guilty of shipping subcontracted jobs overseas to Taiwan, Singapore, and other countries de to rising labor costs in Japan, and undercutting our prices here at home. Labor costs in the United States have become lower than Japan, which is why the Japanese auto industry now builds plants in the United States... cheap labor. And Hyundai and KIA (South Korea) has managed to do to the Japanese what the Japanese had been doing to us: undercutting American prices on the open international market, since the Japanese market is for too restrictive and tariff-laden to allow large scale foreign competition. We sold our heavy industry to China. We still export jobs and industry to China and India. And our products are being undercut due to unfair labor and economic practices around the world. We did it to ourselves, and we need to get back in the game. |
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Post by 101ABN on Jan 12, 2014 10:33:56 GMT -8
"We did it to ourselves, and we need to get back in the game."
Agreed.
The question is, how to do it?
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Post by Sailor on Jan 12, 2014 11:25:16 GMT -8
The easiest and quickest ways to help are to bring down the costs of energy, taxes and labor.
Energy can be done by continuing to expand energy production as seen in the Bakken and west Texas oil and gas fields, energy transportation (Keystone pipeline as an example vs shipping oil by more expensive and dangerous rail) and making it fiscally worth building more refineries. Just examples and not intended to cover all possibilities.
Taxes - the US has one of the highest if not THE highest rates of taxation on business and manufacturing in the world.
Labor - Labor costs in this country are among the highest in the world. Not just payroll but also benefits including healthcare insurances.
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Post by warrior1972 on Jan 13, 2014 13:54:39 GMT -8
The easiest and quickest ways to help are to bring down the costs of energy, taxes and labor. Energy can be done by continuing to expand energy production as seen in the Bakken and west Texas oil and gas fields, energy transportation (Keystone pipeline as an example vs shipping oil by more expensive and dangerous rail) and making it fiscally worth building more refineries. Just examples and not intended to cover all possibilities. Taxes - the US has one of the highest if not THE highest rates of taxation on business and manufacturing in the world. Labor - Labor costs in this country are among the highest in the world. Not just payroll but also benefits including healthcare insurances. None of the above are as easy as typing the solution, Old Sailor. Not even close. |
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Post by 101ABN on Jan 13, 2014 20:39:44 GMT -8
"None of the above are as easy as typing the solution, Old Sailor.
Not even close. "
Neither is walking to the fridge.
Not much to do about labor costs except go "Right to Work" and push back against attempts to raise the minimum wage.
Tax reform, OTOH, only requires political will.
Expanding our native energy production not olnly makes sense, it's insane not to.
What do you suggest?
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Post by warrior1972 on Jan 14, 2014 4:16:48 GMT -8
(sigh) If it were that easy, and it was the solution, and that's all there is to it, why hasn't it been done? Old Sailor: "Energy can be done by continuing to expand energy production as seen in the Bakken and west Texas oil and gas fields, energy transportation (Keystone pipeline as an example vs shipping oil by more expensive and dangerous rail) and making it fiscally worth building more refineries. Just examples and not intended to cover all possibilities." "Taxes - the US has one of the highest if not THE highest rates of taxation on business and manufacturing in the world." "Labor - Labor costs in this country are among the highest in the world. Not just payroll but also benefits including healthcare insurances." 101: "Not much to do about labor costs except go "Right to Work" and push back against attempts to raise the minimum wage." "Tax reform, OTOH, only requires political will." "Expanding our native energy production not only makes sense, it's insane not to." Yessir, easy as pie. I can't understand why nobody every thought of that before... Except that there is opposition to the Keystone pipeline for various reasons. en.wikipedia.org/wiki/Keystone_Pipeline#Keystone_XL_controversies And the oil companies themselves (remember, THEY own the oil. WE don't. And a HELLUVA lot of that oil gets sent overseas. A HELLUVA lot.) shut down the oil refineries, closing about half of them that were operating at half capacity and making the remainder operate at full capacity to turn a higher profit. docstalk.blogspot.com/2012/04/cop-closures-in-us-oil-refinery.htmlOh, and you're against regulation, you say? You ever know anyone who voluntarily lives next to an oil refinery? Or is that "somebody else's" job? Taxation? Fine, slash away. Don't be surprised when jobs and services are lost ( one of them was my father's job under Ronald Reagan with the Customs office, so I know first hand. He worked fifteen years to get the job, and lost it in less than five.) Ever notice how long the lines are everywhere the government has an office? Ever see all the empty counters? Minimum wage? This goes hand in hand with welfare. No welfare, no minimum wage increase. The eternal battle. All I can say is, don't turn up poor. Don't become unemployed. Don't get old. Don't become disabled. Don't get sick. Don't. If you do, God help you. The government won't. Not as easy as you thought, is it? Reform? I'm all for it. Have a seat, and let's talk. |
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Post by Sailor on Jan 14, 2014 9:02:03 GMT -8
America's Dwindling Economic Freedom Regulation, taxes and debt knock the U.S. out of the world's top 10.World economic freedom has reached record levels, according to the 2014 Index of Economic Freedom, released Tuesday by the Heritage Foundation and The Wall Street Journal. But after seven straight years of decline, the U.S. has dropped out of the top 10 most economically free countries. For 20 years, the index has measured a nation's commitment to free enterprise on a scale of 0 to 100 by evaluating 10 categories, including fiscal soundness, government size and property rights. These commitments have powerful effects: Countries achieving higher levels of economic freedom consistently and measurably outperform others in economic growth, long-term prosperity and social progress. Botswana, for example, has made gains through low tax rates and political stability. Those losing freedom, on the other hand, risk economic stagnation, high unemployment and deteriorating social conditions. For instance, heavy-handed government intervention in Brazil's economy continues to limit mobility and fuel a sense of injustice. It's not hard to see why the U.S. is losing ground. Even marginal tax rates exceeding 43% cannot finance runaway government spending, which has caused the national debt to skyrocket. The Obama administration continues to shackle entire sectors of the economy with regulation, including health care, finance and energy. The intervention impedes both personal freedom and national prosperity. More here: online.wsj.com/news/articles/SB10001424052702303848104579308811265028066?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303848104579308811265028066.html
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Post by warrior1972 on Jan 14, 2014 9:14:52 GMT -8
(CNN) -- The year ended with the familiar laments about partisan gridlock in Washington, and 2014 began with more of the same. The list of failures that can be attributed to the parties constantly bickering is long. Congress has been unable to address the big problems of the day, such as immigration or climate change, and party polarization has caused ongoing distress in economic markets. But with all of our discussions of difference and discord, too often we miss some areas where both parties are actually in unspoken agreement. There is a consensus view that encapsulates what's really wrong in Washington. There are three points of agreement that have had particularly ill effects on the nation: www.cnn.com/2014/01/06/opinion/zelizer-too-much-bipartisanship/index.html?hpt=op_bn6 |
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Post by 101ABN on Jan 14, 2014 18:27:33 GMT -8
When you grow weary of arguing against things I never said, get back to me.
Good day.
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Post by warrior1972 on Jan 14, 2014 18:58:22 GMT -8
When you grow weary of arguing against things I never said, get back to me. Good day. "101: "Not much to do about labor costs except go "Right to Work" and push back against attempts to raise the minimum wage." "Tax reform, OTOH, only requires political will." "Expanding our native energy production not only makes sense, it's insane not to." Good Day. |
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Post by 101ABN on Jan 15, 2014 19:19:34 GMT -8
"All I can say is, don't turn up poor. Don't become unemployed. Don't get old. Don't become disabled. Don't get sick.
Don't.
If you do, God help you. The government won't."
Really?
There IS a safety net. Did I say anything about removing it? No.
But it isn't meant to be a hammock, either.
Or maybe you think burger flippers are worth $15/Hr?
Raising the minimum wage raises the cost of everything.
Some idiots want to index it to inflation. What a vicious cycle that would be.
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Post by warrior1972 on Jan 15, 2014 19:46:54 GMT -8
"All I can say is, don't turn up poor. Don't become unemployed. Don't get old. Don't become disabled. Don't get sick. Don't. If you do, God help you. The government won't." Really? There IS a safety net. Did I say anything about removing it? No. But it isn't meant to be a hammock, either. Or maybe you think burger flippers are worth $15/Hr? Raising the minimum wage raises the cost of everything. Some idiots want to index it to inflation. What a vicious cycle that would be. Let's try to get this straight for a change, shall we? I always hear complaints about welfare and minimum wage here. Take those away, and the wage will plummet, and there will be no safety net. I didn't say that YOU said ANYTHING except what I QUOTED you saying. I didn't say that a "hammock" was what we needed, either. And I definitely didn't say that "burger flippers" are worth 15 dollars an hour. THIS IS WHAT I SAID: "]"All I can say is, don't turn up poor. Don't become unemployed. Don't get old. Don't become disabled. Don't get sick. Don't. If you do, God help you. The government won't." (if welfare and minimum wage are gone, that is.) I said let's talk. Is that too much to ask?
If so, let me know, and I am out of here. |
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