Fox News: Senate Passes Bill to Sanction China Over Currency

[tamiflyer]

Fox News: Senate Passes Bill to Sanction China Over Currency

Posted: October 11, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

The Senate has voted to punish China for keeping its currency undervalued against the dollar.

Many see China’s currency policy as a big factor in the flood of Chinese imports that has led to American factories shutting down and workers getting laid off.

The 63-35 vote Tuesday evening shows the growing anger over the U.S. trade relation with China. <

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[iraqimillionaire]

It's about time. There's more to go tho!

[Farmall]

It will solve little after the Chinese backlash.

[4aprofit]

If China revalues or raises it's currency value, this could trigger other countries currencies to go up, of course it may cause others to go down, but if looking at the big picture, there are many countries that have currencies that are very undervalued as per the natural resources and production of goods that they produce and ship to many countries like the U.S., who has pretty much become a consumer nation....and it has been stated that the emerging market countries currencies will rise...as many of the former industrialized countries that do not produce much anymore, will actually fall, as per their currency values....I guess we will see?...On another note, IMO....I do believe, that even if some of these countries that have currencies that rise, and cause the US Dollar to rise with them, it will be short lived...and a new regional and/or world currency will emerge...thus changing the financial atmosphere once again...possibly once and for all...Time will tell?

[BruceV]

it is about Time. BUT I know there will be a back lash as well!!!! But then again China needs us as much as we need them. Hopefully this will help bring back home American jobs..... but not on the short term. Could take yrs.... but its a start! All out manufacturing jobs have gone to either China and india. Free trade under China's plan has brought us lose of jobs. Just saying

Edited October 12, 2011 by BruceV

[tamiflyer]

it is about Time. BUT I know there will be a back lash as well!!!! But then again China needs us as much as we need them. Hopefully this will help bring back home American jobs..... but not on the short term. Could take yrs.... but its a start! All out manufacturing jobs have gone to either China and india. Free trade under China's plan has brought us lose of jobs. Just saying

Once they start a realistic minimum wage, like we do, then they can compete fairly. Thanks for your post and GLTY and all. Go RV.