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Originally posted by Porsche-O-Phile
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"Strong dollar policy". Right. This administration? That's why we've spent like drunken sailors, driven up the defecit to unprecidented levels and embarked on the most unsustainable financial path this nation has ever seen? How 'bout sitting idle as jobs go flying out of this country practically as fast as the dollars? About the only things coming IN are cheap, junky Chinese-made goods and illegal aliens. And the only reason THOSE are coming in here is because the dollar just happens to be stronger than the Yuan and the Peso - and that ain't saying much.
A related thing of great concern to me is the amount of the U.S. economy that's being propped up by Chinese investment right now. If/when the Chinese decide that the U.S. isn't such a hot investment any more and start pulling out, it could very well create an international run on U.S. dollars and rapidly crash our economy. Sadly, there isn't much to prop it up either. Job growth is still kind of so-so. The jobs lost in the last recession have been re-created, but they're typically lower paying and less skilled. Inflation is on the rise. Nothing is really manufactured here any more. Insurance and medical costs are crippling business growth. We don't export anything except bombs it seems. This is not a good formula for reversing a huge debt load in the future.
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You're right, I think, on the 2nd part. A lot of the Chinese profits from all that "made in China" are turned into American securities.
As far as those junky Chinese-made goods go, many of those goods are made in China by American or European-managed companies to Western specs. The Chinese contribute the labor, and are very good workers. The quality these days is very good for the price, i.e., good value, except if you're buying Nike, which jacks up its prices to pay Bode Miller and Michelle Who? Wie.
I'm guessing China may be our closest "closet" ally right now, considering the close economic ties. A lot closer than people think. I'm also guessing we are doing a lot more about global warming behind the scenes than meets the eye. No sense in raising flags and creating a media frenzy.