Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: The Street who wrote (2486)	4/13/2001 1:36:04 PM
From: TigerPaw	Read Replies (2) \| Respond to of 93284

After licking the toes of the Chinese ambasadore to get the crew W (for Wimp) now likes to swagger. Ya! He Da Man! TP

To: The Street who wrote (2486)	4/13/2001 7:23:59 PM
From: Mephisto	Read Replies (2) \| Respond to of 93284

Why do you call Tiger Paw a Moron? Do you know anything about trade? Do you have money invested in the US stock markets? Did you know? "China has become one of our largest export markets, one of the top 10. In the decade of the 1990's, exports by U.S. firms to China more than tripled. The only other country like that is Mexico. Compared with Japan, which of course has been declining, China is large and growing." Above excerpt from the article, "Five Questions for Nicholas R. Lardy.: Will Business Suffer in a China Stalemate? April 8, 2001 By RICK GLADSTONE From The New York Times, BU, P.4 (The following is an excerpt from an article that appeared in last Sunday's New York Times. Since the American spy plane and its crew has been returned, I've deleted the sections that dealt with China and the American spy plane---Mephisto) "A downgrade in United States-China economic relations could be onerous for American corporations. Many have entered the Chinese market, enticed by its 1.2 billion consumers and growing prosperity. Nicholas R. Lardy, a China expert who is interim director of the Brookings Institution's foreign policy studies program and the author of "China's Unfinished Economic Revolution" (Brookings Institution Press, 1998), said he was cautiously optimistic that the spy-plane affair would be resolved without longer-term damage, but he did not rule it out. He talked last Thursday about what could be next. ……………………………………..***************…………………………….. Q. What is at stake in China for American business? A. Almost unnoticed, China has become one of our largest export markets, one of the top 10. In the decade of the 1990's, exports by U.S. firms to China more than tripled. The only other country like that is Mexico. Compared with Japan, which of course has been declining, China is large and growing. On the investment side, a number of firms have done extremely well. Coca-Cola has a share of the soft-drink market 15 times bigger than its nearest domestic competitor. Kodak has captured more than half the market for film and photographic paper. Kentucky Fried Chicken dominates fast food. Q. Are American companies making money on their investments in China? A. Coca-Cola's operations in China have been profitable for more than a decade. Many foreign firms in China are making very large profits. Procter & Gamble, Volkswagen, the majority of foreign joint ventures in China are profitable. Quite frankly, there's a myth all too frequently circulated that all foreign firms in China aren't making money. It's simply not true. Q. How do you rate the Bush administration's handling of this incident so far? A. The administration has been very patient. It has given the Chinese government plenty of time to handle the crisis. No deadlines. That's all quite favorable, and takes into account the fact that decision-making in China is more cumbersome than you might expect. But the incident also points out flaws this administration brought to office. It had announced repeatedly it was going to downgrade relations with China.** We know one reason Bush hasn't called President Jiang Zemin of China is that the two have never met. Jiang is well aware that Bush called 25 other heads of state after he took office before he called him. The Chinese took that as a deliberate snub. Now we're finding that a personal phone call might have gone a long way to resolve this problem.(The American plane in China-Mephisto) Q. The trade deficit with China is a sensitive issue here at home. Is it a problem? A. Our exports grew more rapidly to China in the 1990's than to any other market. U.S. firms have enjoyed considerable success. The deficit has arisen because China has displaced other countries as a principal source of supply of labor-intensive commodities. In the 1980's, 60 percent of U.S. shoe imports were from Taiwan and South Korea, and 2 percent were from China. By the end of the 1990's, 60 percent were from China and 10 percent were from South Korea and Taiwan. So the rapid growth of the deficit with China is because imports have grown much more rapidly, but the adjustment has been in Hong Kong, Taiwan and South Korea. There has been very little displacement of U.S. workers. We benefit enormously, quite frankly, from this deficit, because the cost to consumers here is much lower than if goods from China were still produced in other countries. Copyright 2001 The New York Times Company nytimes.com.