{"id":116,"date":"2011-11-08T17:53:35","date_gmt":"2011-11-09T00:53:35","guid":{"rendered":"https:\/\/blogs.ubc.ca\/wendyliu\/?p=116"},"modified":"2011-11-08T18:15:37","modified_gmt":"2011-11-09T01:15:37","slug":"americas-latest-solution-to-their-what-is-wrong-with-americas-government-derangement-syndrome","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/wendyliu\/2011\/11\/08\/americas-latest-solution-to-their-what-is-wrong-with-americas-government-derangement-syndrome\/","title":{"rendered":"America’s latest solution to their, “What-is-wrong-with-America’s-economy Derangement Syndrome”"},"content":{"rendered":"

The American government passed a bill during October 2011 that imposed tariffs on imports from China because China is ‘manipulating its currency<\/a>‘ by ‘keeping it artificially low.’<\/em><\/p>\n

Background Info<\/strong>:\u00a0American corporations went to China for manufacturing because of\u00a0China’s low cost of production.\u00a0 This\u00a0caused American\u00a0corporations to earn a\u00a0larger profit and Americans losing their job to low-waged workers in Asia.\u00a0 However,\u00a0American corporations soon\u00a0realized that\u00a0Chinese\u00a0products lacked in quality\u00a0thus consumers stopped buying\u00a0Chinese products.\u00a0\u00a0American corporations then\u00a0complained to \"\"<\/a>their government that when they pull out of China, they will have to exchange their 8 yuan for $1 USD which, according to the\u00a0American\u00a0corporations, is unfair since China is ‘keeping\u00a0[their currency] artificially low.\u00a0\u00a0This along with un-employed Americans supported the\u00a0tariff.<\/p>\n

The article did not explain the whole story; I feel that the article was highly mediated in favor of Americans.\u00a0\u00a0Firstly,\u00a0it puzzles me\u00a0in that\u00a0America\u00a0borrowed huge loans from China to help with the US\u00a0debt crisis and now\u00a0America repays China by imposing tariffs on Chinese products (maybe due to US government: President did the borrowing, Congress imposed the tariffs).\u00a0 Also,\u00a0China isn’t purposely keeping their\u00a0currency low since\u00a0their currency\u00a0has always been\u00a0lower than\u00a0the American currency.\u00a0 The article just failed to mention that\u00a0American corporations knew that\u00a0the currency conversion was $1 USD to 8 Yuan at the time they converted their USD to the Chinese Yuan, which seemed like a great deal since the number 8 is more than 1; however, the\u00a0monetary\u00a0value is\u00a0equal\/same.<\/p>\n","protected":false},"excerpt":{"rendered":"

The American government passed a bill during October 2011 that imposed tariffs on imports from China because China is ‘manipulating its currency‘ by ‘keeping it artificially low.’ Background Info:\u00a0American corporations went to China for manufacturing because of\u00a0China’s low cost of production.\u00a0 This\u00a0caused American\u00a0corporations to earn a\u00a0larger profit and Americans losing their job to low-waged workers […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-116","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/posts\/116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/comments?post=116"}],"version-history":[{"count":14,"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/posts\/116\/revisions"}],"predecessor-version":[{"id":127,"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/posts\/116\/revisions\/127"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/media?parent=116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/categories?post=116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/wendyliu\/wp-json\/wp\/v2\/tags?post=116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}