October 21, 2010 Headlines

Posted by jeckert on 10/21/2010

Treasury Secretary Timothy Geithner aims for global rebalancing.

The G20 finance ministers set to square off over currency values.

Chinese inflation is way up, which means the yuan should appreciate in value. But will it?
 

1 comment

Anonymous wrote 2 years 29 weeks ago

American jobs and import cost

All this hoopla is just a smoke screen, this administration is just sitting and waiting for the, China coat tails.
ECONOMIC GLOBALIZATION IS THE PLAN, EVIDENT BY THIS ADMINISTRATIONS POLICY TO ALLOW FOREIGN SHIPS A FREE ECONOMIC PASS TO DESTROY OUR WATERS.
A December 2009 report for Congress describes import cost would rise with national ballast water legislation.
The House voted for regulations 395-7 in 2008, but the legislation was not taken up in the Senate during this administration.
The continued delay tactics of more comment, study, and only a proposal for a long time line to implement standards for ballast water and foreign ships dumping human pathogens and virus illustrates this administrations reason for delay is not to hinder economic globalization, even at the expense of our environment and manufacturing competitiveness.
The following report for Congress in DEC 2009 “Although estimates of the costs of ballast treatment may be imprecise and vary from vessel to
vessel, there is some general agreement on average costs.14 For example, it may cost an estimated $400,000 per vessel for modification of container/bulk vessels to use onshore ballast water treatment facilities at California ports. More generally, the cost of retrofitting vessels to treat
ballast water has been estimated at between $200,000 and $310,000 per vessel for mechanical
treatment and around $300,000 for chemical treatment.15 Most of this expense will be borne by
foreign shipping companies, as the U.S. flag fleet is a small percentage of the global fleet,16 and
likely passed along to consumers of products imported on these ships.”

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