When will UK (+other countries) not be able to buy Chinese Electronics?

[ocset]

The British pound (+ maybe some other countries currency) is falling dramatically against the Chinese Yuan.....as the following chart shows...

(Pound vs Yuan over 20 years)
https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-CNY

At what point in the future, will UK no longer be able to buy Electronics products from China? (eg lighting products, toys, TVs,  etc etc)

[station240]

Can't see the wood for the Treez ?

[MK14]

Can't see the wood for the Treez ?

Please don't Teez the guy.

[rstofer]

With the rising Yuan, the cost to buy imported Chinese goods rises.  Which, in turn, means local business can now compete.

It has been suggested that China manipulates its currency for the specific purpose of keep it low hence enhancing exports.

The bigger question for the Chinese is do they make anything that the world NEEDS.  Something that isn't easily duplicated elsewhere.  For sure, the US is out of the garment business and have been for decades.  But it would be pretty easy to resurrect that business if the cost of imported goods rises.  OR, we just don't buy their stuff.

Do we really NEED their toys and such?

[MK14]

Do we really NEED their toys and such?

You'd better hope not.
Because your clever smart stable genius of a leader, is massively escalating the big trade war with China.

[MK14]

At what point in the future, will UK no longer be able to buy Electronics products from China? (eg lighting products, toys, TVs,  etc etc)

Don't forget that we are mutually interdependent.

Because if the UK and the rest of the world, stop buying anything from China.
China would run out of money, and get into trouble themselves.
E.g. They would not be able to pay for imports, such as raw materials, oil and food.

[floobydust]

It's too late, we're all crack addicts to the cheap chinese goods.

It's all part of the war that china rages on us.
Their main strategy is to undersell and take a loss, in order to choke the competition. Government sponsored shipping. Copy Western products and sell cheaper versions. The currency manipulation, the de-valued Yuan.

Unfortunately, it's our nations that are degrading. Local manufacturing and technology shrivelling up and disappearing.

Trump seems to be trying to stop some of this by imposing tariffs but it's probably too late.
Everyone is dependant on the low cost products from china and could care less if local businesses die out.

The industries that have already died, would take a decade to start back up.
Will the USA ever make an iPhone? Or is it Foxconn from now on in.

[tggzzz]

The British pound (+ maybe some other countries currency) is falling dramatically against the Chinese Yuan.....as the following chart shows...

(Pound vs Yuan over 20 years)
https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-CNY

At what point in the future, will UK no longer be able to buy Electronics products from China? (eg lighting products, toys, TVs,  etc etc)

When I was young, the USD:GBP rate was 1c == 1d, i.e. £1=$2.40.

Since then the pound has halved in value, and it has become impossible for us to buy anything from the US.

Or not.

[rstofer]

When I was in Germany in '66-'67, it was 4 DM = 1 USD.  Today it's down to 1.67 DM =  USD.  The DM is stronger than it was and the dollar is weaker than it was.  That makes US exports more affordable in Germany than German imports in the US.

When I lived in Singapore back in '87-'88, 2 S$ = 1 USD.  Today it's 1.37 S$ = 1 USD.  Again, our products are more affordable in Singapore and their's are less affordable here.

[MK14]

The British pound (+ maybe some other countries currency) is falling dramatically against the Chinese Yuan.....as the following chart shows...

(Pound vs Yuan over 20 years)
https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-CNY

At what point in the future, will UK no longer be able to buy Electronics products from China? (eg lighting products, toys, TVs,  etc etc)

Also, if the Chinese Yuan, became extremely valuable, compared to the UK's £.

The Chinese would probably buy stuff from the UK like crazy, because so much of our stuff for sale, would appear to be so very cheap to them.

So we would be able to start all sorts of new business's, expand existing businesses and get a huge influx of Chinese tourists. Which would in time, partly resolve the currency situation.

[MK14]

When I was in Germany in '66-'67, it was 4 DM = 1 USD.  Today it's down to 1.67 DM =  USD.  The DM is stronger than it was and the dollar is weaker than it was.  That makes US exports more affordable in Germany than German imports in the US.

When I lived in Singapore back in '87-'88, 2 S$ = 1 USD.  Today it's 1.37 S$ = 1 USD.  Again, our products are more affordable in Singapore and their's are less affordable here.

DM ?

Hint (Euro).

[rsjsouza]

For sure, the US is out of the garment business and have been for decades.  But it would be pretty easy to resurrect that business if the cost of imported goods rises.  OR, we just don't buy their stuff.

The garment business is in India, Vietnam, Sri Lanka, Bangladesh...

But the society is used to buy cheap and replace often, thus the inertia requires a continuum policy that goes across presidential mandates.

It is still too soon to see if this trade war will influence China's Intellectual Property practices... It is certainly a huge bet and the dude at the helm does not inspire confidence with his tweeting frenzy, but hopefully this is successful.

[CatalinaWOW]

When I was in Germany in '66-'67, it was 4 DM = 1 USD.  Today it's down to 1.67 DM =  USD.  The DM is stronger than it was and the dollar is weaker than it was.  That makes US exports more affordable in Germany than German imports in the US.

When I lived in Singapore back in '87-'88, 2 S$ = 1 USD.  Today it's 1.37 S$ = 1 USD.  Again, our products are more affordable in Singapore and their's are less affordable here.

DM ?

Hint (Euro).

I think this is a well hidden dig on who controls the Euro.  It sure isn't any of PIGS.  Or GB.  Someone in Paris may feel they have a voice.

[rstofer]

When I was in Germany in '66-'67, it was 4 DM = 1 USD.  Today it's down to 1.67 DM =  USD.  The DM is stronger than it was and the dollar is weaker than it was.  That makes US exports more affordable in Germany than German imports in the US.

When I lived in Singapore back in '87-'88, 2 S$ = 1 USD.  Today it's 1.37 S$ = 1 USD.  Again, our products are more affordable in Singapore and their's are less affordable here.

DM ?

Hint (Euro).

I know the Euro exists but it didn't exist in '66-67.  I hadn't followed along and didn't realize that the DM was totally obsolete.  Google gave me an exchange rate and I took it.  Dumb...

I guess I should look back and find out what the exchange rate was when Germany gave up on the DM.  Or wait a while and see what it is worth when they bring it back.

[MT]

Google gave a DM to USD exchange rate! That proofs it, Google is fake news! Since more and more countries is abandoning the FIAT dollar and bringing back their gold reserves DM might look mighty strong if Germany does a Gexit. But the britts now talking about a re election about their Brexit!   Apparently FED have overprinted the USD total by 21 trillions while 23 trillions are not accounted for. Gold is going to sky rocket and nobody will be able to buy anything from china when the bank crash is done, this time "printing" is not going to save the banks.

[Tandy]

The British pound against the Chinese Yuan is pretty irrelevant, exports from China are almost exclusively priced in $US so the problems will be more about how the US trade war pans out with China.

But at the end of the day China is just currently among the lowest cost countries to produce products in, manufacturers will move to the next cheapest location if manufacturing in China becomes too expensive. India has been growing its manufacturing and China has been investing heavily in Africa so that when the cost of labour in China becomes too high they can pay a pittance to African workers.

Personally what I would like to see is the cost of labour increasing in all poor countries so that living standards can be improved for those people. We as consumers in the west are far too complacent in using our wealth to buy whatever we want at the expense of living standards for people in the poor countries that produce it for us.

I would like to see a time where what things cost is a true reflection of the work involved and environmental impact to produce it. Red meat for example takes vast amounts of land to rear, not only where the cattle are kept but the farmland used to grow the feed for the livestock. As meat is consumed in much greater quantities in rich countries, we import food from poorer countries. While I am not part of the vegetarian or vegan movement, I would like to see the cost of meat truly reflect the cost to produce it rather than be subsidised as it is now.

[Cerebus]

When I was in Germany in '66-'67, it was 4 DM = 1 USD.  Today it's down to 1.67 DM =  USD.  The DM is stronger than it was and the dollar is weaker than it was.  That makes US exports more affordable in Germany than German imports in the US.

When I lived in Singapore back in '87-'88, 2 S$ = 1 USD.  Today it's 1.37 S$ = 1 USD.  Again, our products are more affordable in Singapore and their's are less affordable here.

DM ?

Hint (Euro).

I know the Euro exists but it didn't exist in '66-67.  I hadn't followed along and didn't realize that the DM was totally obsolete.  Google gave me an exchange rate and I took it.  Dumb...

Yet you feel qualified to commentate on world economics when you haven't even managed to grasp that most European countries abandoned their former currencies for the Euro twenty years ago? I'd call that a rather significant aspect of world economics.

I guess I should look back and find out what the exchange rate was when Germany gave up on the DM.  Or wait a while and see what it is worth when they bring it back.

Most people after having made a huge gaff of that order would hold off on making huge unlikely economic predictions such as German leaving the Euro.  Immediately doubling down on demonstrated cluelessness is, erm, "brave".

[james_s]

It's too late, we're all crack addicts to the cheap chinese goods.

I've had that thought many times. One of my favorite examples is an ad in one of my old magazines from the early 70s for a 15" B&W TV set that costs "only" $299. I don't know exactly how much that is in 2018 dollars but I suspect well over $1,000. A good 19" color TV cost several weeks earnings from a good family wage job back then, it was a major purchase and hardly anyone had more than one.

These days toys are cheap as dirt, literally in fact. For what I spent on topsoil for the planter beds in my yard I could buy a brand new 50" HDTV. When I was a kid in the 80s I knew *one* rich kid who's dad had a bigscreen TV, everyone else had a 19", except for a few upper middle class who had a fancy 25" console.

I can only imagine what people would do if prices on stuff suddenly hit 1970s levels, although in some ways it would be nice. I enjoy fixing stuff and at one time a person could make a decent living doing that. Now everyone just throws it away and buys a new one.

[james_s]

Yet you feel qualified to commentate on world economics when you haven't even managed to grasp that most European countries abandoned their former currencies for the Euro twenty years ago? I'd call that a rather significant aspect of world economics.

To be fair, the only reason I'm more than vaguely aware of this is that I have friends in various European countries. Most economic principals are the same regardless of whether the currency is dollars, Euros, DM or coconut shells.

[thm_w]

I've had that thought many times. One of my favorite examples is an ad in one of my old magazines from the early 70s for a 15" B&W TV set that costs "only" $299. I don't know exactly how much that is in 2018 dollars but I suspect well over $1,000. A good 19" color TV cost several weeks earnings from a good family wage job back then, it was a major purchase and hardly anyone had more than one.

https://www.usinflationcalculator.com/
"If purchased an item for $300 in 1972 that same item would cost: $1,809.66 in 2018"

[MK14]

I know the Euro exists but it didn't exist in '66-67.  I hadn't followed along and didn't realize that the DM was totally obsolete.  Google gave me an exchange rate and I took it.  Dumb...

I guess I should look back and find out what the exchange rate was when Germany gave up on the DM.  Or wait a while and see what it is worth when they bring it back.

Don't worry. If I tried to name all the states of America, I'm sure I would not get too far.
Then if you asked me to place them on a map of the US, I'd get even more stuck.

Yes, I was wondering how you managed to find the exchange rate between DM and $US.
I think I've seen google do something similar, with something else (I forget what), where if you ask it a silly question, it finds a crackpot/hoax internet article which confirms your mistaken beliefs.
E.g. Google "Working Free Energy Machines" etc.
"The Moon landing never took place" etc etc.

[Cerebus]

Yet you feel qualified to commentate on world economics when you haven't even managed to grasp that most European countries abandoned their former currencies for the Euro twenty years ago? I'd call that a rather significant aspect of world economics.

To be fair, the only reason I'm more than vaguely aware of this is that I have friends in various European countries. Most economic principals are the same regardless of whether the currency is dollars, Euros, DM or coconut shells.

Yeah, but pontificating about a system while simultaneous demonstrating that you don't understand how it has worked for the last twenty years is, as I say, "brave". It's the kind of thing that might make people suspect that one doesn't quite grasp what one is talking about and might lead people to devalue one's, possibly inflated, opinions. It's one thing to have a robust exchange of ideas, it's quite another when one feels that one is not getting fair value from the other participants in this trading.

[james_s]

Don't worry. If I tried to name all the states of America, I'm sure I would not get too far.
Then if you asked me to place them on a map of the US, I'd get even more stuck.

I think you'd find quite a few Americans can't do it either, I could probably name all of them with some effort and point to the approximate region on a map but being from the West coast the East is pretty foreign to me. It seems that people in many parts of the world have some difficulty grasping just how geographically enormous the USA is, it's spread across 5 time zones.

[chris_leyson]

When somebody makes it cheaper

[Bud]

It's too late, we're all crack addicts to the cheap chinese goods.

You do not speak for me in this post. I will be partying and dancing all night when the world announces no more buying from China

Will the USA ever make an iPhone? Or is it Foxconn from now on in.

You certainly missed Trump's message on bringing iPhone to the US