"Can a trade war with China be avoided?" will be the topic of the Oct. 13 Noon International Forum to be held in Ballroom A of the MUC Student Center sponsored by the Beacom School of Business. Panelists include: Dr. David Carr (Int'l Economics) and Dr. Lucy Dai (Sociology and a native of China).
Moderator will be Dr. Benno Wymar (Economics).
Most South Dakotans are probably not aware of how the "Levin Trade Bill", passed by the US House of Representatives on Sept. 29 by a huge bipartisan majority (but still subject to approval by the US Senate) could impact South Dakota. After all, there are no Chinese cargo vessels coming up the Missouri River to Yankton to pick up loads of grains and containers with frozen pork. Those South Dakota agricultural products are shipped from here to China via West Coast ports.
But if that market closes to us, major price declines are a certainty. And what would happen to US automobile manufacturers like General Motors, which right now is selling more cars in China than in the US? Let us also remember that we have become very dependent on Chinese credits. It is not the first time that it has been suggested that if China would decide to dump all of its US dollar holdings, our currency would drop drastically in value, to put it mildly. There have been even suggestions that in time the Chinese Yuan could replace the US dollar as the world currency.
Perhaps one might also look at what happened when Japan was "forced" to appreciate it's currency. Americans continued to purchase Japanese products, while Japan ended up paying lower prices for the foreign raw materials, without which its economy could not operate. These and other issues will be taken up by the panelists.
As for the past 20 years, the event is open to the public and at no charge.