Protectionism - Let the currency war begin

[Zoiderman]

That's where you are totally wrong - Saddam was held accountable for all he did.

Only due to an illegal war...

Or are we going around in circles?

[TimberWolf]

That's where you are totally wrong - Saddam was held accountable for all he did.

And Blair wasn't. Plenty would like to see him made accountable I'm sure.

[BrilloPad]

BBC News - US Senate passes bill to pressure China on yuan




So UK next?

Doesn't China hold a lot of USA debt that may be underwritten with assets, so could come back at them with a nice sucker punch by calling in the debt?

The legislation passed the Democrat-led Senate 63-35, putting it through to the House of Representatives.

However, the bill is unlikely to be passed by the House.

Trade war

House Republican leaders agree with many business groups that action against China could result in a trade war.

HTH

[AtW]

All this currency boll0x is a red herring - China can do whatever the hell they want with their currency, that's not the issue, what is however is that they take advantage of WTO to get free trade with West whilst exploiting unfair advantage of system which pays fook all to people (no pensions there), no proper safety standards - it's unfair competition and should have been treated as such with very high tariffs which are illegal under WTO rules.

Conslution - Western countries should pull out of WTO and create free trade zone only among countries that have similar lifestyle, protections: EU + USA + Canada + Japan (+ a few more small countries), everyone else will have to pay tariffs to exports into that free trade block.

Probability of success in such arrangement: 99%

Probability it will happen: 0%

[doodab]

All this currency boll0x is a red herring - China can do whatever the hell they want with their currency, that's not the issue, what is however is that they take advantage of WTO to get free trade with West whilst exploiting unfair advantage of system which pays fook all to people (no pensions there), no proper safety standards - it's unfair competition and should have been treated as such with very high tariffs which are illegal under WTO rules.

Conslution - Western countries should pull out of WTO and create free trade zone only among countries that have similar lifestyle, protections: EU + USA + Canada + Japan (+ a few more small countries), everyone else will have to pay tariffs to exports into that free trade block.

Probability of success in such arrangement: 99%

Probability it will happen: 0%

Probability of being popular with your electorate when they can no longer buy cheap chinese manufactured stuff in the shops?

[TinTrump]

My point is about accountability. Saddam had no accountability to his people, whereas the rulers of Israel, UK and even China do have responsibility to the people of their country. This makes these countries predictable and therefore relatively easy to deal with and therefore unlikely to go to war.

This really isn't true. I appreciate the thread was initially related to a nuclear exchange but the UK has been involved in a large number of wars since WW2. Since the Falklands we had 2 with Iraq, Afghanistan, Bosnia and Kosova.

Domestic accountability != peaceful foreign policy

Just take a look at the history of recent US interventions.

Timberwolf has made very valid observations. The Falkands conflict helped Thatcher back to power, but an unpopular Iraq war was outweighed by domestic issues (esp. the economy) helping Blair back in. Doesn't make his decision right.

[Mich the Tester]

All this currency boll0x is a red herring - we should blast them all with my 40 watt plasma gun, and have every right to do so because the Soviet Socialist Republic of Birmingham has a better credit rating than the rest of the world.

Most sensible advice you've given in years AtW! Well done sir!

[PAH]

The world today has no appetite for global conflict.

Rollback the thread! I was inferring a war starting on economic terms, a trade war, that may escalate to more traditional military methods if one side gained too much advantage.

A more direct route to military action would more likely come from religious conflict than economic.

Nothing blinds man more than god.

[Churchill]

Rollback the thread! I was inferring a war starting on economic terms, a trade war, that may escalate to more traditional military methods if one side gained too much advantage.

A more direct route to military action would more likely come from religious conflict than economic.

Nothing blinds man more than god.

Why would a trade war escalate into armed conflict?

What would it serve?

"Buy our maize!!!"

"Er Mr President, they won't buy our maize!!!"

"Right, Nuke 'em!!!"

"Now will you buy our maize?"

[AtW]

Probability of being popular with your electorate when they can no longer buy cheap chinese manufactured stuff in the shops?

It's not really THAT cheap - often it's poor quality and does not last, only good for throw away fashion that pushes up prices for commodities and in the end costs everyone more.