A Quote by Virginia Foxx
China's idea of fair trade is government subsidies of its textile and apparel exports to the United States, currency manipulation, and forgiveness of loans by its government banks.
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The really big problem with China is that there are the unfair trade practices, like currency manipulation, illegal export subsidies and the theft of intellectual property, but then there's also things that the WTO doesn't cover that it should, which is the use of sweat shops and pollution havens.
Why is Caterpillar bad if we create a new job in India or China to receive U.S. exports? It makes no sense to me. We want to drive all the exports we can from the United States. We want to concentrate on all those consumers, outside contractors, customers outside the United States that we possibly can.
I am a firm believer in free but fair trade. However the United States should not be on the losing end of trade agreements that are not enforced. It is time that we make China play fairly.
If money is the root of all evil, then China's manipulation of its currency, the yuan, is the tap root of everything wrong with the U.S.-China trade relationship.
I hold all idea of regulating the currency to be an absurdity; the very terms of regulating the currency and managing the currency I look upon to be an absurdity; the currency should regulate itself; it must be regulated by the trade and commerce of the world; I would neither allow the Bank of England nor any private banks to have what is called the management of the currency.
No man ever saw the people of whom he forms a part. No man ever saw a government. I live in the midst of the Government of the United States, but I never saw the Government of the United States. Its personnel extends through all the nations, and across the seas, and into every corner of the world in the persons of the representatives of the United States in foreign
capitals and in foreign centres of commerce.
Some people think the Federal Reserve Banks are United States Government Institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers.
It is federal, because it is the government of States united in a political union, in contradistinction to a government of individuals, that is, by what is usually called, a social compact. To express it more concisely, it is federal and not national because it is the government of a community of States, and not the government of a single State or Nation.
Although China and United States are competitors, China and the United States are indeed partners in trade.
The idea that the largest banks in the world would simultaneously fail, need government support, government guarantees, and/or government intervention to survive was not in my range of realistic scenarios.
No man ever saw a government. I live in the midst of the Government of the United States, but I never saw the Government of the United States.
As commerce secretary, I led the Clinton administration's effort to ensure China's entry into the World Trade Organization and the permanent normalization of trade between the U.S. and China - steps that produced a 76 percent increase in U.S. exports to China in just three years.
Ex-Presidents of the United States get state subsidies. Not so in Russia. You get no government support.
If banks anticipate government will come to the rescue should the credit market go badly awry, they may make loans that would otherwise be imprudent, e.g. subprime loans with little prospect of repayment.
Venezuela is independent. It's diversifying its exports to a limited extent, instead of just being dependent on exports to the United States. And it's initiating moves toward Latin American integration and independence. It's what they call a Bolivarian alternative and the United States doesn't like any of that.
Many countries are looking at the virtual currency and the digital currency. Now, the issue is a virtual currency by the government, digital currency by the government that is one area to look but on the other hand, there are private cryptocurrencies as well.
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