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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area
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To: Sergio H who wrote (3923)9/2/2003 7:52:19 PM
From: Crossy  Read Replies (1) of 37387
 
Sergio,
actually I feel it somewhat "pointless" but not unuseful to discuss an exchange rate. I'm an investor. I take macro econiomcs as a given. IF at all I try to understand the trends to make better informed investment decisions. Apart from this I really don't care as an investor. I have of course a political background as well (as most others here have) and I make no secret of the fact that I command quite a Libertarian streak for my own mindset. However I do not feel comfortable in poltical debating. I avoided the respective threads here on SI (as well as on other media) - this is a "discrete" decisions of mine sort of a value judgement (where I find my time is best spent)

Politicians and economic actors may have "demands" on particular price levels of goods. In fact they do advocate and voice these demands all the time. I'm highly critical of this and very suspicious of these demands as they are usually just demands reflected in the context of the constituencies these bodies, institutions and organisations represent.

I wouldn't agree on currency valuation being an "extension to subsidies" because nearly all the WTO countries are doing this one way or the other - even the US. What "price of exhange rate" is fair ? All are constantly fumbled with. And by the way you could do the same as the US and just open the monetary floodgates in a deregulated currency environment. Just another of the monetary policy toolbox. WTO covers fiscal policy only. This IS a real distinction, not an arbitrary one. It's the sovereignitiy of any central bank to do this. It's an odd twist that some like to add here..

Let me sum up, to me the "China move up the Yuan!" is just a battle cry of protectionists. China is well advised to disregard this and the US has too much at stake (their corporations JV's) to actively pursue any agenda here.
And by the way even trying to "compete with China" on price is a failure IMHO.

If a company thinks at this they are lost. It's called the "International Division of Labour". HAving a deregulated exchange rate has a lot of merits. China will be there rather sooner than later. But on their terms and on their timeline..

Sorry, without being impolite - but I do not want to comment on this subject any longer and more detailed. As I already explained macroeconomic value judgements are very close bordering politics and I do not want to engage in debating exercises, as I outlined above..

rgrds
CROSSY
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