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China Blasts US Shutdown, Calls For A ‘de-americanized’ World - Foreign Affairs (8) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / China Blasts US Shutdown, Calls For A ‘de-americanized’ World (25271 Views)

Mugabe Blasts Nigeria At AU Summit For “Betraying” Africa / Zulu King Changes Tone And Calls For End To SA Attacks On Foreigners / The U.S. Government Has Officially Shutdown!! (2) (3) (4)

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Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Wallie(m): 3:27pm On Oct 16, 2013
Glad to see the thread finally coming to a sane conclusion!

Funny how people are quick to point out how much US treasury China holds but fail to realize the extent of the symbiotic relationship!

US trade deficit with China is $315 billion (US bought $425 billion worth of goods from China but only sold $110 billion worth of goods to them). This is important because it means that more US cash is following to Chinese companies and workers. http://www.forbes.com/sites/russellflannery/2013/08/03/what-can-be-done-about-the-big-u-s-trade-deficit-with-china/

Also, what is China to do with all the dollars it gets from goods sold to the US? Save it or invest it? If they were to save it, under which currency? If they were to invest it, where and what should they buy? Gold, perhaps? Last year alone, the price of gold has fallen 26.66%!
http://goldprice.org/
http://www.infomine.com/investment/metal-prices/gold/all/

China pumps more cash into US because they want to keep fueling the spending spree! The relationship is similar to oil importers in Nigeria extending credit to Nigeria to import oil and getting paid at a later date. The importers know fully well that if they do not extend the credit to Nigeria they will not make a sale.

If US crashes or close its boarders, who will buy the Chinese goods meant for the US market? There will be internal strife and unrest in China because manufacturers will close up shop since they cannot sell their goods.

Take a look at the major trading partners with China and tell if any has the capacity with absorb China’s goods meant for the US –

1. EU (27 countries) 13.3%
2. US 11.7%
3. Hong Kong 8.3%
4. Japan 8%
5. South Korea 6.2%

15. South Africa 1.5%

19. Angola 0.9%

44. Algeria 0.2%

Only 3 African countries made the top 50 list, Nigeria did not even make the list, so I guess they can always expand into Africa except Africa is largely poor and the countries will probably close their boarders if they get swamped with Chinese goods because it will kill off whatever local manufacturing capability they have.

http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_113366.pdf

Also, to those suggesting a single currency, do you mean like currently done in the European Union that is being held together by Germany? Do you realize that the Union is not currently working and some countries might be kicked off? See Eurozone crisis http://en.wikipedia.org/wiki/Eurozone_crisis

6 Likes

Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by royalexcel2: 3:27pm On Oct 16, 2013
Billyonaire: China's worries are legitimate but it is a matter of time before the US gives way for Economy based on money, NOT currency. It is also time we deliberate on the next fiat currency. Nothing lasts forever. This is just the beginning of the end of the empire.
Preparation for the fulfillment of a single world currency , it is all a game plan. Watch and Pray.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Nobody: 3:27pm On Oct 16, 2013
The truth is that the tea party has lost the idea to spite at Obama on what they believe to be 'Obama care' to make the economic situation in the country worst.

However, this is not an excuse for Chinese to be mouthy about the issue as it is not the only country owning the US debt, as Japanese are also owning fairly large part of it yet are not making noise because they can see through what is behind the writing on the wall.

That being said, most Nigerians here who are always quick to past blame haven't be able to point out to us the reason the de-Americanizing the world is necessary when we no most of the world developing nations are still relying on the American economic model and currency. It is like saying somebody is evil and claim him to be a mentor. This Chinese case is just a politicized one to make them look influential with no backing of US and possibly can take the place of America in the world economy, a flaunt.

Finally, I doubt this debt ceiling will not be overturned as most Americans are basically tired of the political bickering to becloud serious economic issue and it is no longer helping matter. Many people want to get back to work and get paid. That alone is enough to prove the house speaker John Boehner(as against many republicans view) is losing the fight to hold on to continue deferring of government shutdown.

So, there is still hope. Now, the Chinese can shut up for a while.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by MagicBishop: 3:30pm On Oct 16, 2013
Wallie: Glad to see the thread finally coming to a sane conclusion!

Funny how people are quick to point out how much US treasury China holds but fail to realize the extent of the symbiotic relationship!

US trade deficit with China is $315 billion (US bought $425 billion worth of goods from China but only sold $110 billion worth of goods to them). This is important because it means that more US cash is following to Chinese companies and workers. http://www.forbes.com/sites/russellflannery/2013/08/03/what-can-be-done-about-the-big-u-s-trade-deficit-with-china/

Also, what is China to do with all the dollars it gets from goods sold to the US? Save it or invest it? If they were to save it, under which currency? If they were to invest it, where and what should they buy? Gold, perhaps? Last year alone, the price of gold has fallen 26.66%!
http://goldprice.org/
http://www.infomine.com/investment/metal-prices/gold/all/

China pumps more cash into US because they want to keep fueling the spending spree! The relationship is similar to oil importers in Nigeria extending credit to Nigeria to import oil and getting paid at a later date. The importers know fully well that if they do not extend the credit to Nigeria they will not make a sale.

If US crashes or close its boarders, who will buy the Chinese goods meant for the US market? There will be internal strife and unrest in China because manufacturers will close up shop since they cannot sell their goods.

Take a look at the major trading partners with China and tell if any has the capacity with absorb China’s goods meant for the US –

1. EU (27 countries) 13.3%
2. US 11.7%
3. Hong Kong 8.3%
4. Japan 8%
5. South Korea 6.2%

15. South Africa 1.5%

19. Angola 0.9%

44. Algeria 0.2%

Only 3 African countries made the top 50 list, Nigeria did not even make the list, so I guess they can always expand into Africa except Africa is largely poor and the countries will probably close their boarders if they get swamped with Chinese goods because it will kill off whatever local manufacturing capability they have.

http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_113366.pdf

Also, to those suggesting a single currency, do you mean like currently done in the European Union that is being held together by Germany? Do you realize that the Union is not currently working and some countries might be kicked off? See Eurozone crisis http://en.wikipedia.org/wiki/Eurozone_crisis

i liked your post
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by tdade(m): 3:31pm On Oct 16, 2013
0monnakoda:
I guess you need to practise those words. The effort is all too obvious and contrived.Keep it simple at all times. Artifice is a poor substitute for substance but then what else can airheads produce but brainless bluster. You are empty,raucous and unruly
Psst! Read the modified post again and admit that you're wrong - on everything! The SW comparison to Japan, China buying Jaguar, amongst other things. I see you you've failed to take my advice, too. I obviously won't stoop low to your level of insults.

1 Like

Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Nobody: 3:32pm On Oct 16, 2013
Simply put, America is the problem of the world. As another poster posited earlier, the solution to this imbroglio is for world leaders to create a new trade currency managed by a "world bank" or another financial body exclusive of the united states and/or China. Unfortunately, this will never see the light of day, as the Americans and their European allies are ready to kill as many people as that mouth this "taboo".

Sticking with the USD is disaster waiting to occur, conversely, the world is not balled enough to say it wants out. If you ask me...
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by manny4life(m): 3:36pm On Oct 16, 2013
olu_kenzo :
Simply put, America is the problem of the world. As another poster posited earlier, the solution to this imbroglio is for world leaders to create a new trade currency managed by a "world bank" or another financial body exclusive of the united states and/or China. Unfortunately, this will never see the light of day, as the Americans and their European allies are ready to kill as many people as that mouth this "taboo".

Sticking with the USD is disaster waiting to occur, conversely, the world is not balled enough to say it wants out. If you ask me...

Creating a new currency isn't even a viable option because for instance, for instance the EURO isn't stabilized, austerity is rocking the Europe. The nations have been talking about it, but it doesn't seem to be in the making anytime soon. Although Russia and China like each (their interest), but none of them will allow the other control the new currency, and this is the type of thing that raises concern.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by caukerzee(m): 3:37pm On Oct 16, 2013
0monnakoda:
I guess you need to practise those words. The effort is all too obvious and contrived.Keep it simple at all times. Artifice is a poor substitute for substance but then what else can airheads produce but brainless bluster. You are empty,raucous and unruly
^^Typical traits of a real loser losing an argument. I hear the rule of them losers is- "If you are losing an argument, attack their grammer". Mostly used by kids. Grow up boy!

1 Like

Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by 0monnakoda: 3:38pm On Oct 16, 2013
tdade: Psst! Read the modified post again and admit that you're wrong - on everything! The SW comparison to Japan, China buying Jaguar, amongst other things. I see you you've failed to take my advice, too. I obviously won't stoop low to your level of insults.
Right vs Wrong Is that what this is to you ? Some ego trip? Funny dude you are.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Nobody: 3:38pm On Oct 16, 2013
olu_kenzo :
Simply put, America is the problem of the world. As another poster posited earlier, the solution to this imbroglio is for world leaders to create a new trade currency managed by a "world bank" or another financial body exclusive of the united states and/or China. Unfortunately, this will never see the light of day, as the Americans and their European allies are ready to kill as many people as that mouth this "taboo".

Sticking with the USD is disaster waiting to occur, conversely, the world is not balled enough to say it wants out. If you ask me...
That is no brainier to think it is possible to consume the American inventions for free.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by manny4life(m): 3:39pm On Oct 16, 2013
olabukola: You don't need to say they haven't been successful, I think it's stilling the pipeline. Such development does not happen at a glance and moreover the two figure head in that BRICS like secrecy.

I never said it was unsuccessful, I only said "I THINK", although it may be in the pipeline, but they openly declared they want a new trading currency, what else is secret? Their basis was strictly on the BRICS nations that control 25% of the worlds GDP, so I really don't know much since I haven't really researched the outcome of their meeting. I may be wrong (which I could), but I really don't know how successful that would be.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by 0monnakoda: 3:40pm On Oct 16, 2013
caukerzee: ^^Typical traits of a real loser losing an argument. I hear the rule of them losers is- "If you are losing an argument, attack their grammer". Mostly used by kids. Grow up boy!

Who are you and where is your owner? Why have they unleashed you
Remind us what the argument is ? Do you know? I don't need several Ids to smack little boys like you in the mouth if I choose.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by tdade(m): 3:47pm On Oct 16, 2013
0monnakoda:
Right vs Wrong Is that what this is to you ? Some ego trip? Funny dude you are.
Nope, its about people like you getting defensive and rude when you make a mistake, and its been pointed out to you. Worst of all, trying to twist it when you realize that you're wrong. Ah, never mind. You're to obtuse to understand. Won't reply you any longer.

1 Like

Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Wallie(m): 3:47pm On Oct 16, 2013
olu_kenzo :
Simply put, America is the problem of the world. As another poster posited earlier, the solution to this imbroglio is for world leaders to create a new trade currency managed by a "world bank" or another financial body exclusive of the united states and/or China. Unfortunately, this will never see the light of day, as the Americans and their European allies are ready to kill as many people as that mouth this "taboo".

Sticking with the USD is disaster waiting to occur, conversely, the world is not balled enough to say it wants out. If you ask me...

How EXACTLY is this to occur? How can you get countries with different constitutions and parliaments to agree on the same set of rules that may benefit individual countries differently? Why do you think the European Union currently does not have a fiscal union?

Do you think Nigeria will agree to the same set of laws (punishments) proposed by western countries for treasury looters? Which legislature will vote for the laws? Here’s a former Mayor of Detroit city being convicted and sentenced to 28 years in prison for something Nigerian politicians won’t even spend a night in jail!

http://en.wikipedia.org/wiki/Kwame_Kilpatrick
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by 0monnakoda: 3:51pm On Oct 16, 2013
tdade: Nope, its about people like you getting defensive and rude when you make a mistake, and its been pointed out to you. Worst of all, trying to twist it when you realize that you're wrong. Ah, never mind. You're to obtuse to understand. Won't reply you any longer.
Mistake ? what mistake?Listen Junior I made no mistake. You are out of your depth here and have no clue what you are saying.
Rude? I think you nee to see your psychiatrist because something is not working properly here
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by caukerzee(m): 3:56pm On Oct 16, 2013
0monnakoda:
Who are you and where is your owner? Why have they unleashed you
Remind us what the argument is ? Do you know? I don't need several Ids to smack little boys like you in the mouth if I choose.
"I don't need several Ids to smack
little boys like you in the mouth if I choose"
WTF!!! What are you, 12 or something? Making such childish statements. Kid alert!!!!!

1 Like

Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by 0monnakoda: 3:59pm On Oct 16, 2013
caukerzee: "I don't need several Ids to smack
little boys like you in the mouth if I choose"
WTF!!! What are you, 12 or something? Making such childish statements. Kid alert!!!!!
Smacking is what I do to kids not debate and smacking is what you get silly boy.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by manny4life(m): 3:59pm On Oct 16, 2013
@ 0monnakoda and caukerzee,

It's enough abeg, let's not derail the thread, a lot of Nairalanders including myself are enjoying the debate... Let's keep it civil and responsible. grin grin
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by MagicBishop: 4:03pm On Oct 16, 2013
manny4life: @ 0monnakoda and caukerzee,

It's enough abeg, let's not derail the thread, a lot of Nairalanders including myself are enjoying the debate... Let's keep it civil and responsible. grin grin

Egotism is the main problem with those two
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Nobody: 4:06pm On Oct 16, 2013
Wallie:

How EXACTLY is this to occur? How can you get countries with different constitutions and parliaments to agree on the same set of rules that may benefit individual countries differently? Why do you think the European Union currently does not have a fiscal union?

Do you think Nigeria will agree to the same set of laws (punishments) proposed by western countries for treasury looters? Which legislature will vote for the laws? Here’s a former Mayor of Detroit city being convicted and sentenced to 28 years in prison for something Nigerian politicians won’t even spend a night in jail!

http://en.wikipedia.org/wiki/Kwame_Kilpatrick

What alternative do you then propose? We stay with america that'd never live within its means, pick up another of the world currencies with its attendant risk of dashing "world (mis)ruler ship" to its country or what?

Your earlier post covers all these alternatives, but fails to provide any solution. I wager you're asking we stick with the USD, no?
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by nitrogen(m): 4:07pm On Oct 16, 2013
Magic Bishop:

Egotism is the main problem with those two

Real egoism. I fear for them o!
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Nobody: 4:10pm On Oct 16, 2013
olu_kenzo :


What alternative do you then propose? We stay with america that'd never live within its means, pick up another of the world currencies with its attendant risk of dashing "world (mis)ruler ship" to its country or what?


It is not just a matter of picking up another currency but the vulnerability of the other currency hasn't been really addressed. Beside, there is no other currency that is more robust that the dollars looking at the impact of the American economy. Meanwhile, if US default it will only be to the benefit of the Americans. I think Dollar is still more viable than any other out there.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by caukerzee(m): 4:13pm On Oct 16, 2013
China has been saying stuff like this for a
long time, so in a sense this isn't a big deal.
But as the mess in Washington drags on,
more and more countries are going to be
taking this idea more seriously. I'm generally
bullish on America's future relative to other
areas of the world, but that could change if
dysfunctional governance forces the rest of
the world to essentially gang up against America
for their own safety. Thanks, Republicans!
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by MagicBishop: 4:14pm On Oct 16, 2013
caukerzee: China has been saying stuff like this for a
long time, so in a sense this isn't a big deal.
But as the mess in Washington drags on,
more and more countries are going to be
taking this idea more seriously. I'm generally
bullish on America's future relative to other
areas of the world, but that could change if
dysfunctional governance forces the rest of
the world to essentially gang up against America
for their own safety. Thanks, Republicans!

You can blame Obama's arrogance for this current impasse.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Nobody: 4:17pm On Oct 16, 2013
all4naija:

It is not just a matter of picking up another currency but the vulnerability of the other currency hasn't been really addressed. Beside, there is no other currency that is more robust that the dollars looking at the impact of the American economy. Meanwhile, if US default it will only be to the benefit of the Americans. I think Dollar is still more viable than any other out there.


Just like I wrote, picking another currency leads back to the same situation as we have now. At the same time the world should not be scared into sticking with the USD because of the bolded.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by trolling(m): 4:25pm On Oct 16, 2013
Kx: @ Frosbel, Obadiah 777 et al

What does the Books of Revelation, Daniel etc say about American's debt and its effect on the world ecomony in the Last Days Calender( what NL calls End Time Things!)?
it says a sword is upon their treasures and they shall be robbed....
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Amhatu(m): 4:32pm On Oct 16, 2013
Most Importantly our African leaders better start taking steps now to ease away from the catasrophe when the dollar loses more value!!!
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by caukerzee(m): 4:34pm On Oct 16, 2013
Magic Bishop:

You can blame Obama's arrogance for this current impasse.
Is it not obvious that the motives of the repulicans are polical rather than what is best for the nation?

2 Likes

Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by ckkris: 4:36pm On Oct 16, 2013
olu_kenzo :


What alternative do you then propose? We stay with america that'd never live within its means, pick up another of the world currencies with its attendant risk of dashing "world (mis)ruler ship" to its country or what?



1. Stop importing rice as President Jonathan is working on.
2. Stop importing generators, by increasing power production
3. Channel all those monies to increasing production of cotton, cocoa, etc.
4.Revive textiles, the way Obama revived US auto industry
Then imports will be for enhancing productivity, and not consumption, as it has been since 1970s
Then the Central Bank can work with any currency, or gold, as required by Nigerians.
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by cocoduck: 4:39pm On Oct 16, 2013
0monnakoda:
I asked a simple question and you start a histrionic display like a fishwife grin
There is poverty all over the world. You made a claim so provide us with evidence to back up your claim. I have not said it is false or true. Just provide facts. At any rate even if it is true it proves nothing.

Look I have made known to you some of the evidences btw the shop beside mine is owned by a Chinese. I Watch with interest their behavior and attitudes
Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by Wallie(m): 4:40pm On Oct 16, 2013
olu_kenzo :


What alternative do you then propose? We stay with america that'd never live within its means, pick up another of the world currencies with its attendant risk of dashing "world (mis)ruler ship" to its country or what?

Your earlier post covers all these alternatives, but fails to provide any solution. I wager you're asking we stick with the USD, no?

Nah...Nigeria will do what's best for Nigeria but if I were in charge of Nigeria, in the long run I'll systematically (1) increase the value of Naira or (2) close Nigerian boarders to foreign goods.

Increasing the value of Naira should be done if we’ve given up hope on the manufacturing sector. Some will be quick to point out that our major export is oil which will result in less Naira earned if the value of Naira goes up but I will counter with the fact that we import more goods than we export oil.

However, closing Nigerian boarders systematically is the best long term response because we will still make enough from oil and the shortfall will be made up from the taxes to newly-created Nigerian manufacturers.

Simply put, if there’s a shortage of ANY product for a long period of time and will continue for the foreseeable future, Nigerians and foreigners will set up manufacturing facilities within Nigeria to make up for the shortfall, which will mean more local employment.

The problem with Nigeria is that successive governments do not understand or fail to follow long term policy initiatives implemented by their predecessor. We tend to only see the issues right before our eyes and never seem to think long term.

1 Like

Re: China Blasts US Shutdown, Calls For A ‘de-americanized’ World by ckkris: 4:50pm On Oct 16, 2013
caukerzee: Is it not obvious that the motives of the repulicans are polical rather than what is best for the nation?
If Obamacare succeeds, as Americans are beginning to realise, Republicans will not win elections for a long time. That's why the GOP is practically begging to reduce the success of ACA. And the Democrats who worked against Obama have realised their mistake, and are now solidly voting for Obama. Only reasonable Republicans must shift ground and vote in support of Obamacare, and the matter is resolved. Up to 60% to 85% of card-carrying Republicans now see that they are also beneficiaries of Obamacare, and are blaming Speaker Beahner for this impasse.

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