I wish China could do that. Again, Chinese currency is not hard currency, that means most of other countries will only accept the hard currency from China, like US$ Japanese Yuan, etc., except in some south eastern countries, like SIngapore.
Well then, Zhang, that's the real issue, isn't it? The problem isn't how trade deficits are calculated, the problem is the value of China's currency. Don't you suppose that maybe China should do like every other exporting country, and establish the worth of it's currency? I don't think that it is the responsibility of the US to exascerbate its own trade deficit in order to improve the Chinese economy.
We play 'Rich Uncle' to too many other nations already, without adding a communist country to those that we support and subsidize. I sympathize with the dilemma the PRC faces, but that's the price of continued growth, IMO.
jim |
