Today, CNN reported:
“China spoke out strongly Sunday against a meeting between U.S. President Barack Obama and the Dalai Lama, saying it ‘hurt the feelings of the Chinese people and harmed Sino-U.S. relations.’
‘This action seriously interfered with China’s internal affairs,’ said Ma Zhaoxu, a spokesman for the Chinese Foreign Ministry, in a statement, adding that officials have lodged formal complaints with their U.S. counterparts in Beijing and Washington.”
Awwwwwwwww. China’s feelings were “hurt”? US-Chinese relations were “harmed”? Obama was meddling in China’s internal affairs?
Good for Obama. That’s the very least he can do!
After all, China certainly deserves it. Considering how China has treated America, China more than deserves it!
For the last thirty-five years (and thirty-eight of the last forty), America has been selling less than it buys. If America was a company, it would’ve went belly up a long time ago.
During the last ten years alone, America has bought $5,613,821,000,000 (that’s $5.6 trillion) more than it has sold.
That means America has shrunk by $5,613,821,000,000 from 2001 to 2010. That’s a loss of about $18,000 by every single American citizen, over that period.Yes, really!
And you can bet that a large chunk, if not most, of that $5.6 trillion, resulted from direct trade with China.
Now, China isn’t entirely to blame for the Chinese-American trade practices. But that’s not the point I’m making!
The point of my article is this: When China complains about Obama meeting with the Dalai Lama, that can only be considered as heaping insult upon injury.
China has raped and looted America. By complaining about Obama meeting the Dalai Lama, China kicks America while it’s down!
And when it comes to trade relations between the two countries…China actually is partly to blame.
Why? Because they don’t allow their currency to float against the US dollar. They don’t allow it to vary based on fair market valuation. Instead, they peg (fix) the currency to the US dollar, pegging it at a rate that values the yuan much lower than its fair value! (China has recently started to allow it to float, but only within a very small range. Essentially, it’s still being pegged).
Why do they do this? Because it gives them an unfair advantage over competing countries selling goods!
Because Chinese currency is manipulated to be lower (versus the US dollar and other currencies) than it otherwise would be, countries, primarily America, buy goods from China, since Chinese goods are cheaper than goods being sold by countries that do allow their currency exchange rates to float freely!
You might wish to view this CNBC video primer regarding the Chinese-US currency peg.
Let me finish with this:
The CIA recently compiled estimates, measuring whether individual countries’ wealth grew or shrunk during 2010. The measure included the trade deficit.
Among the 191 countries examined, China placed first, growing by $272,500,000,000. Placing last (191st!) in the world was America, which shrunk by $561,000,000,000.
So, again, China’s complaint about Obama and the Dalai Lama really is quite disgusting.
It’s like an Olympic sprinter running the 100 metres against a child, obliterating them and kicking dirt in their face…and as the child finally makes it to the finish line, the medalist laughs and spits in the child’s face.