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Time for U.S. to take responsibility: Chinese state media

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“It is time for the policy-makers in Washington to settle down, to show some sense of responsibility and fix their fiscal problems.”

As a U.S. citizen and registered independent, can't say I disagree with this comment. Neither party looked particularly good in all this. But, economic and political criticism coming from China, which has contributed to the U.S. economic woes with its grossly under-valued currency, and throws political opponents in jail, rather than allow debate, is a bit ironic to say the least. China, more than any other country, has benefitted from the U.S. over-spending to keep the economy pumping. Or is that huge balance of payments surplus they run with the U.S. just a figment of my imagination?

-2 ( +1 / -3 )

Not exactly my country's proudest moment. Was hoping the S&P downgrade would be a wake up call, but appears, at least short term, to have merely steeled mutual loathing in Washington. "Entertainment News" such as Fox and MSNBC merely assure that the needed centrists get shouted down by those willing to pound their fists loudest. Not feeling real optimistic. Herefornow, we can't blame Beijing for using the sledgehammer that we handed them in gold wrapping paper with lots of pretty red bows. Hypocrisy is the norm in international politics. No morals, just interests, and there are many countries, "allies" included, that would love to see the US knocked down a couple of notches. Particularly now that our politics are seen by many as unworthy of a global leader. Sorry, but why should the rest of the world be held hostage by a bunch in the House of Representatives who barely acknowledge the existence of the rest of the world, and utterly fail to comprehend, or worse, just don't care, that their actions can devastate economies worldwide?

3 ( +4 / -1 )

What is China?

-4 ( +0 / -4 )

What is China?

World's No.1 Economy in practical sense, thanks to advanced countries who preferred China over India.

0 ( +2 / -2 )

It is time for the naughty boys in Washington to stop chicken games before they cause more damages.

Words to live by ... I think. On the other hand, we saw in 1989 how China handles "chicken games:" As messy as the US situation is, most would find it preferable.

1 ( +1 / -0 )

Why does anyone care WHAT China thinks?

-4 ( +0 / -4 )

You know, I have to say, after taking all the criticism from the USA for all these years, this just has to be a lot of fun for the folks in China. Scolding little snippets...I bet they're working on some more right now.

1 ( +1 / -0 )

America needs China, americans living under China's shadows everyday no matter they like or they hate! The United States needs to defeat the Taliban in afghanistan and that is a huge chunk of money needed, the Chinese government is a vital source to provide 'war money'! No matter who takeover the white house or the capital hill, the afghanistan is a 'must do' in list, how can the world despising United States and Nato spilted if the Taliban still kicking around? Failure is not an option!

-2 ( +0 / -2 )

American politicians posturing and squabbling instead of getting down to business brought this about.

The sooner politicians in all nations act like mature adults with the peoples interests at heart instead of trying to line their own pockets and take care of their own agendas the better.

BUT that will never happen as being responsible is not in their job description.

1 ( +1 / -0 )

I wonder if it's time for the U.S. to stop buying all this made in China stuff.

2 ( +2 / -0 )

China, a country that's in a massive housing bubble and which is also printing money, acting like it's more responsible than the US.

0 ( +0 / -0 )

Both the crooks from the 'democrats' and the 'republicans' has deep love of infighting! The whole world is just laughing and choking when their little show is starring! They shall never learn from history and like Lenin said: The capitalist will sell us the rope to hang them! Even Lenin was over cautious! The statesmen of that biggest capitalist on earth is hanging each other and dont need the 'chicoms' dirty their hands!

-2 ( +0 / -2 )

Remember the afghanistan war is far from over and America needs more Chinese money for that war, so bowing your heads deeper and longer than Nixon!

-2 ( +0 / -2 )

The Chinese may have their own economic and political issues but that doesn't make this commentary of theirs wrong. The US politicians are playing a cynical game that will do damage to both the US citizens and Chinese investments in US bonds. If I were the Chinese I'd be unhappy too. But since I'm just an American I'll say a pox on both the republicans and democrats. Then again, it's a democracy. We get what we deserve.

-1 ( +0 / -1 )

The Chinese may have their own economic and political issues but that doesn't make this commentary of theirs wrong.

The comments aren't wrong, but they are coming from the mouths of the same people who have artificially kept their currency low in order to manipulate the market into producing massive cash reserves. It's sort of like saying, "We've worked hard to cheat, and now you're ruining all of that."

Anyone have a billion tissues?

1 ( +1 / -0 )

China is a biggest buyer of US Treasury today. All treasuries rallied (2,5,10,30 yrs) today with high yield.

Chinese are sucking US Treasuries to their throats as fast as they can. So what does this tell you?

0 ( +1 / -1 )

Bite the hand that feeds you, China.

Meanwhile, China's rated a AA- with S&P~ I wonder why?

0 ( +0 / -0 )

@ Serrano

Exactly, it's time to pull our manufacturing orders out of China and get back to manufacturing and farming here in the USA.

0 ( +0 / -0 )

Serrrano...I wonder if it's time for the U.S. to stop buying all this made in China stuff.

Problem is Americans willing to give up theirWalmart products, Apple I-Phone 4, HP printer, or latest in electronics? Half of the U.S. trade deficiet with China is the result of U.S. corporations investing manufacting in China. Maybe it's time that U.S. goverment impose a 25 percent import tax on all products entering U.S.

China's investment in U.S. treasury is another problem. China has over $1.1 billion invested, and if you adjust their currency, the Yuan to make it stronger, of about another 20 percent, from current $6.46 to around $5.17 yuan per dollar, and if China hastily decides to pull the out entirely from U.S. investment, they would gain $220 billion in just the currency adjustment. U.S. is currently running on a delicate thin ice.

0 ( +0 / -0 )

Exactly, it's time to pull our manufacturing orders out of China and get back to manufacturing and farming here in the USA. I would like to see more manufacturing in the US, but at this point I really don't know exactly how we should approach the task. Import duties in one country just create import duties elsewhere, and nobody really wins a trade war. We would need to try to find specialty areas in which the higher cost of production in the US would yield an unmatchable product that could demand a premium. We need to go for sophisticated technology, maybe. I don't think we would win in competition on cheap Walmart products. It might make more sense to continue to buy lower priced products from China, and sell them higher priced, sophisticated stuff made in the US. That would also allow us to offer a living wage and a long-term career to our workers.

0 ( +0 / -0 )

Sorry. The above didn't come out right. The first sentence is a quote from Utrack, referencing Serrano.

0 ( +0 / -0 )

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