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File under "we told you so". August 21st on this blog we surmised that the recent spate publicity surrounding recalls and problems with Chinese products was related to the Chinese threat to devalue the dollar.
Recently China floated a threat that it would sell off US Treasury Bonds if Congress imposed sanctions against the growing Asian giant.According to this Reuters news story, China has reached a similar conclusion.
The Chinese government has hinted that it may liquidate its vast holding of US Treasury bonds, potentially triggering a crash in the dollar, if Washington imposes trade sanctions to force a yuan revaluation, The Telegraph reported. source- Forbes.comSince that story broke there have been a number of stories about problems with Chinese manufactured products.From Mattel toys to Toys R US bibs, to tires, pet foods, tooth paste, the list goes on.
So it is curious that suddenly, we are hearing about the Chinese products in a way that has people checking the Made In labels before they buy.
Read the rest here.
"People have reason to fear that some government officials and media in the United States hope to use doubts about the overall quality of Chinese goods to press for narrow trade protection." source- ReutersThe Chinese say they produced the products according to the specifications of the companys that ordered the goods, and the fault lies with them.
Are we seeing a new kind of trade war using bad product publicity instead of tariffs?
How true. Very well put. The Chinese have produced and sold "crud" to the US for decades. This
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Comments on China Says Product Recalls Are Protectionist Agenda- We Told You So
How true. Very well put. The Chinese have produced and sold "crud" to the US for decades. This is nothing new. We are just calling them out.
|| Posted by Mike Jones, September 1, 2007 08:31 PM ||