Comments on: China Weighs Economic "Nuclear Option"

Officials Contemplate Dumping U.S. Cash Holdings

[hdinsight]

America's economy is suffering because our government is being controlled by the corporate lobby. As they say, the fox guards the hen house. These industries write our current law: Banking industry/Bankruptcy Laws, Pharmaceutical industry/Prescription Drug Plan & Oil industry/Energy Policy. With this sort of greed & corruption, we are screwed before we even open an eye. And, sadly, most Americans are an under-educated, apathetic lot. Who cares how many nickels Juan Valdez gets paid to grow coffee beans? We just want our Starbucks piping hot with extra cream. Although the American economy IS suffering, Americans are partially responsible for supporting this sort of unethical corporate behavior. Where is the OUTRAGE? Do citizens even know enough to be OUTRAGED? Yes, Americans, on the short-term, benefit from the exploitation of global "slave" labor as WE are the ones who continue to buy this cheap Chinese crapola at our local Wal-Marts. Of course, we don't care where it comes from or if an underfed, 7 year-old makes it for us, as long as it's dirt cheap. TRUTH: Americans are disconnected from our responsibility in the exploitation of foreign labor. Our economic votes have been cast & we will have to live with the devastating consequences of our foolishness. BOTTOMLINE: Corporations simply DO NOT CARE about OUR COUNTRY. They care about PROFIT. It is a global economy, not a national one.

[killtheliars]

we need to place an embargo on all chinese goods. It will put a dent i the Us economy for a while but once the dollar falls more alot of other countries will buy them up. Once they buy more dollars it will be in thier economic interest to shut China out of their markets as well and open up to the US.
In the short term our dollar will fall, but then it will gain strength and the Chinese currency will fall even more as others stop doing business with them.
We in america may not be able to buy that third car, or take that second vacation next year, but the chinese will be back to starving.

[terrapin78]

We should stop buying Chinese made products! NOW!!!

Go without, but don't buy Chinese!

[forthepeopl1]

President bush
During a state of emergency, the government can restrict the freedom to move, rally, engage in political activities or form groups and impose other limits such as restricting congress right to make laws or even dissolving congress
``These are only unconfirmed reports although the possibility of imposition of emergency cannot be ruled out and has recently been talked about and discussed, keeping in mind some external and internal threats and the law and order situation,bush told The Associated Press.
``I cannot say that it will be tonight, tomorrow or later. We hope that it does not happen. But we are going through difficult circumstances so the possibility of an emergency cannot be ruled out,'' he added.

so all you so called americans that keeps saying dont worrie, you better start now. alot of us have been saying this would happen before they electtion....so bend over and take it right up the a/s/s/. thanks congress, welcome to the u.s. of china..................................

[selim_0000]

I do not believe that China has thought this threat through -- "retro" cold war strategy. There is yet another component which was once termed mutually assured destruction -- calling in the trillion dollar debt would leave as the best U.S. option to default. The immediate effect would be a severe devaluation of the dollar, however, the impact on China would be devastating. Not only would they lose in the obvious financial terms but goods would begin piling up at docks and warehouses across their country and this right before the Olympics. The civil unrest stemming from billions of very hungry people would be unprecedented -- even the PLA would be inefective in putting it down. And what country would allow their athletes to attend the Olympics under such conditions?

The problem in which China finds itself is that in the attempt to become a world economic force they have allowed themselves to become trapped by the very market they wish to influence. In order to build their industry & exports they have allowed themselves to fall under the whims of essentially a single customer (while enabling the financing of that customer) -- hence the master becomes the slave.

[neoconrcrazy]

If you got the cash, and he has the I.O.U. - who do think is in the stronger position?

Let's just call the federal government bankrupt,
pick up our debt for 10cents to the dollar from the chinese communists - and tell them the monopoly games is over -

we're starting a new game.

we sink the chinese (without any radiation fallout, or deaths), make the greatest deal in history, and the rock bottom dollar our exports will soar.....

[drinuk]

Hey CBS why are you NOT opening up "The Steel Worker in The Spotlight" feature. Do you have the same health insurance company? or are you really afraid of the language on this story.

[tuckerndfw]

But let's get back to China. China is threatening to bankrupt us but they are the ones holding the debt. They aren't going to bankrupt us, they just want to bully us into continuing to kiss their butt on devaluation and product safety.

Posted by realpatriot1 at 11:00 AM : Aug 09, 2007

China isn't going to bankrupt the US, the Republican party, with the complicity of their do nothing counterparts, the Democrats, will.

Dems and Repubs don't need China's help, they are doing a fine job without Chinese assistance.

[gmcnally2]

The REAL problem and its solution is the Federal Reserve is a Private bank. Have the US government issue the currency instead of the FED. We do not pay interest. Right now we are enriching some European Bankers who create money out of nothing and then charge interest on it. It is a ridiculous hoax of a system, watch the Google video 'Money Masters' for a historical and informative 3 hours of why are we doing this? Go back to Greenbacks and remove the corruption that is breaking our economy to enrich a few families. We could have no inflation and money to spare without the 900B annually paid in interest to private parties.

[rushlimpdrug]

milton economics:
slave labor drives prices down and everybody wins.
the free market system.