2007-08-30 04:05:30 · 3 answers · asked by Anonymous in Business & Finance ➔ Investing
China can sell products here very cheaply but our products are very expensive for them. Thus, we import much more than we export to them. Currently, we owe a huge debit (1.5 Trillion dollars) to China. Since they don't want our products they are buying our means of manufacturing companies, real estate, sports teams. As owners they have a great deal of control of our lives. For example, when they need more oil, they can easily pay cash for several of the world's largest oil companies and have more control of oil prices than OPEC ever had. Gasoline was 32 cents a gallon before OPEC. What do you think it will be when China takes most of the world supply for its own use?
2007-08-30 05:01:05 · answer #1 · answered by Thinker 7 · 0⤊ 0⤋
If the yuan were higher relative to the dollar, then some things would be more economical to make in the US that are currently made in China. It's about jobs.
2007-08-30 13:41:24 · answer #2 · answered by Ted 7 · 0⤊ 0⤋
Because of debt owed.
2007-08-30 11:10:46 · answer #3 · answered by sleepy 1 · 0⤊ 1⤋