Message from @Grenade123
Discord ID: 485227027377553411
it would force other improvements to technology and research to counteract those
i.e. the world isn't going to stop because people live in shitty conditions working
> In fact, foreign investment is only good for an economy if it brings needed technological or managerial innovation or if that economy cannot otherwise raise funding for domestic productive investment. If neither holds — and they hold in developing economies only, not advanced countries like the United States — foreign investment always forces the recipient country to choose between a higher debt burden and higher unemployment.
> As long as the United States is the only country willing and able to run the current account deficits that result from foreign accumulation of dollars, the dollar will be the only important global reserve currency. And as long as other economies try to goose domestic growth or reduce domestic unemployment by forcing up exports relative to imports, either U.S. debt will be higher or U.S. growth will be lower and unemployment higher. This is why the United States will eventually limit foreigners from accumulating dollars for their reserves.
> The logic is inexorable. As the global economy grows relative to that of the United States, it is only a matter of time before Washington is forced into defensive action. The only question is how much economic pain and domestic unemployment the United States is willing to accept before it acts. As long as the dollar is easy to acquire in near-unlimited amounts, foreign countries with weak domestic demand can simply buy dollars and force their domestic demand deficiencies onto their trading partners. Until then, it doesn’t matter whether or not the People’s Bank tries to improve the SDR’s visibility. It is entirely against China’s economic interests for the SDR to replace the dollar — let alone for the renminbi to do so.
LotheronPoole, sure the world isn't going to stop because people live in terrible working conditions, if it did, then sociaty would have hit multiple standstills through out history.
its not clear that china's behaviour has actually been a benefit to the west - I think in many ways China has gotten more out of it than the west has
China has also been a currency manipulator hasn't it?
Grenade - that is basically the point of what I quoted - but it'ts a very complicated issue
artificially fucking with its own currency to keep it down low relative to the dollar
Grenade, the fault is mostly US' - not Chinas
well i mean, it takes two to tango so yes
> There is, in short, no way Japan could have benefited from People’s Bank purchases of its yen bonds. Only the United States permits unlimited purchases of government bonds by foreign central banks — not because, however, it is immune to the problems Japan and other advanced countries face. Like them, the United States can easily fund productive domestic investments without foreign capital, and so rather than cause productive investment to rise, foreign investment causes domestic savings to fall, which can only happen with a rising debt burden or rising unemployment.
Before we sanction China, we should do something about Venezuela
VZ is toast already
drop leaflets telling the poeple to move out, then carpet bomb the whole place, let nature reclaim it
Stefan, China is worse than VZ - I think VZ will sort itself out way before china - but yeah sure, VZ also needs sanctions (if they don't have already)
And how many people have to die in VZ and how many other Countrys have to be flooded with Refugees?
no, Venezuela is the one of the worst situations we have right now!
there's no we
they fucked themselves
It needs to come from the inside
It really does unfortunately.
And I know someone in there right now.
or else it's just imperialist america not letting socialism work
See, why then sanction China? It has to come from within.
because china is a world power
you can't treat the two the same
It annoys the *shit* out of me that this "DON'T EAT PORK" shit is still going on.
We have learned how to prepare pigs.
So its OK if people in VZ die but China is a different story?
Why the fuck are people still avoiding pigs.
EAT YOUR FUCKING PIGS.
Because its an order from the Book!
To be fair, in counties without a well developed pig farm industry, it could still be a bad call.
Like in the US it is fine, but in like Somalia? Eeeeeh
Did my excellent linkage just kill the chat.