[size=150][color=red]WTF !!!![/color][/size]

[size=117][color=red]WHEN is ENOUGH is ENOUGH???[/color]

[color=darkred]The exhange rate of Renminbi vs US$ had[/color] [color=red]ALWAYS[/color][color=darkred] been pegged at [/color][color=red]1 USD = 8.27 Renminbi [/color][color=darkred]before 2005.

Since China decided to depeg from USD and start to manage a floating exchange rate based on market supply and demand with reference to a basket of foreign currencies (which included United States dollar, Euro, Japanese yen and South Korean won, British pound, Thai baht, Russian ruble, Australian dollar, Canadian dollar and Singapore dollar) from July 21, 2005, the Renminbi had been appreciated [/color][color=red]almost 4 ~ 5% per year. The latest rate is ALREADY 1 USD = 6.35 Renminbi, representing a 23% appreciation over the past 6 years.

WHY CAN'T UNCLE SAM LOOK INTO THE FVCKING MIRROR???[/color]

[color=darkred]When they decided to print money out of the thin air in previous rounds of Quantitative Easing, over-flooding the global market with extra liquidity, weakening the dollar,[/color] [color=red]IT IS ALSO A FORM OF CURRENCY MANIPULATION !!!! . [/color][/size]

[quote]

http://news.xinhuanet.com/english2010/w ... 177102.htm

[size=150][color=red]Obama says currency bill on China
could fall foul of WTO rules [/color][/size]

[size=109]English.news.cn
2011-10-07

WASHINGTON, Oct. 6 (Xinhua) --[color=red] U.S. President Barack Obama on Thursday expressed "concerns" about a controversial Senate bill on the so-called "currency manipulation" by China, saying it should be consistent with the U.S. international trade obligation.

The Senate move could fall foul of World Trade Organization rules, Obama said at a White House press conference.[/color]

The U.S. Senate on Thursday cleared a procedural vote to advance the bill, known as the [color=red]Currency Exchange Rate Oversight Reform Act of 2011, [/color]which sets in motion a process for [color=red]imposing punitive tariffs on a country with allegedly misaligned currencies, noticeably the Chinese renminbi or yuan. [/color]

Obama said that the renminbi has appreciated to some extent over the last year, though it has not met the expectation of the U. S. side.

The Chinese government has repeatedly expressed its strong opposition to the U.S. Senate move, warning that it "seriously violates rules of the World Trade Organization and obstructs China- U.S. trade ties."

Even if the measure passed a floor vote in the Senate, it needs to get approval from the House before it could reach the president for being signed into law.

Chances of the bill moving forward in the House of Representatives appeared doubtful as Republican House Speaker John Boehner came out against the bill on Tuesday.

[color=red]"It's pretty dangerous to be moving legislation through the United States Congress forcing someone to deal with the value of their currency," Boehner said. "This is well beyond what Congress ought to be doing, and while I've got concerns about how the Chinese have dealt with their currency, I'm not sure this is the way to fix it."[/color]

Republican House Majority Leader Eric Cantor earlier warned an "escalation" in trade tensions could have painful "unintended consequences." He also said President Obama should use existing powers to deal with U.S.-China currency issues.

[color=red]Many U.S. economists believe that Senate legislation is not an appropriate measure to address the currency issue.[/color]

"At a time when China is one of the few sources of global growth, ratcheting up protectionist sentiments only makes it harder to secure the necessary multilateral cooperation," Yukon Huang, senior associate at the Washington-based think tank Carnegie Endowment, said on Thursday.

Leading U.S. media, including The Washington Post in an editorial, said that the Senate bill is "counterproductive" and will do more harm than good to the United States. [/size]

it only shows the competency of congress

[quote="shokenchi"][size=109] it only shows the[color=red] competency [/color]of congress [/size]

Why work harder when it's so easy to blame China? US government has the best interest of the US in their mind.

[quote="koensayr"][size=109]Why work harder when it's so easy to blame China? [color=red]US government has the best interest of the US in their mind.[/color] [/size]

If they implement an import tax on Chinese products, the iPhone and MacBook will be much more expensive in the US.

[quote="superjohn"][size=109] If they implement an import tax on Chinese products, the iPhone and MacBook will be much more expensive in the US.[/size]

All the news involving the decline of western economy is linked with the steady rise of Chinese economy. Wealth is becoming more balanced globally and that is NOT in best interest of USA.

[quote="Malorkayel"][size=109]All the news involving the decline of western economy is linked with the steady rise of Chinese economy. [color=red] Wealth is becoming more balanced globally and that is NOT in best interest of USA.[/color] [/size]

They of course know that the iPhone has many parts made elsewhere.
But they just pretend they don't realize it. They US is running trade deficits against Japan and Korea through products made in China.