Youth Unemployment in the UK at Record High

[misterstir]

China doesn't manipulate it's currency, it keeps a currency peg. The same is true for many countries.

:huh:

A peg is a government policy, or intervention. If it is an arbitrary outcome, and not a determinant of market forces, how is that not manipulation by the chinese government?

It's insidious, but currency pegs are common. No one complains when a host of other countries do the same thing. They only get pissed about China because it allows them to make its exports cheap.

China's peg is different. Most these other countries peg to stop inflation in their own country. China manipulates currency simply to have an unfair trade advantage over all major trading partners. Ie. If Euro goes down, China devalues to undercut Germans. If Japanese Yen goes down, China manipulates currency again. It is difficult to compete against that kind of open and bias currency manipulation. A normal currency peg is set at a rate and rarely changed.

And why else would you not complain that they are engaging in unfair trade practices to devalue their currency and to make exports cheaper. Do you not see how that makes a barrier to any reasonable free trade. How can you have free trade with a partner whose goal is simply to destroy all your businesses not through competitive advantages because they are better but because their government is manipulating the currency. by that logic dumping products should be good too.

 

[misterstir]

Your use of Japan and Germany is spot on. Hence why I wrote America needs to play to its strengths.

China vs. America = China wins manufacturing wise. Right now China is trying to keep itself from losing all it's manufacturing to Vietnam and Cambodia. It will happen eventually, the infrastructure in the South East hasn't caught up yet, but it will. The days of American manufacturing are long since over.

So let me get this straight, the number 1 manufacturing nation for the majority of history since the 1800s, who invented the car, the plane, the submarine, modern computer, tv, ice fridge and probably 90+% of all useful manufactured goods, is not good at manufacturing. But the German and Japanese who copied America are better manufacturers and that is there strength?

Its not like America is Portugal and never had a manufacturing base, you're talking about the Chicago which was the industrial/manufacturing centre of the world and 50% of all manufactured goods in the hey day came from there, and most the services industries are based off these manufacturing industries.

When you remove all the things they do to cut corners like not pay pension or benefits, not protect the environment, you'd see they are less efficient than Americans.

 

[Deluge]

But the German and Japanese who copied America are better manufacturers and that is there strength?

Yes. The Germans and the Japanese are better at manufacturing then the USA. That's why their manufacturing industries are far more successful than Americas and have been for decades now. Get over it.

 

[T and A Man]

You confuse contemporary conditions with a prevailing strength.

By your logic, britain which was the best at manufacturing would have stayed, there.. thus the U.S. shouldn't even try and 'get over it'

 

[misterstir]

If I recall the Japans experienced a large amount of the same type of deindustrialization as the Americans did. The Germans to a lesser extent but was more or less saved in that regard by east germany and the eu which has cheap workers than would normally allow in a first world country.