Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (28353)	9/21/2003 10:38:05 PM
From: Lizzie Tudor	Read Replies (2) of 89467

I found the important part of the issue in this article The G7 statement did not mention specific currencies but the impression is that it was effectively targeting China and Japan," said Mitsuru Sahara, vice president at UFJ Bank. Comments in the G7 statement were aimed at countries like Japan, where authorities have been intervening to stop the yen from strengthening to support its export recovery. Here- this is what I consider good news. We have a problem in the US with the Yuan especially being held down artificially. This makes our manufacturing and labor as well as finished goods uncompetitive and contributes to the trade imbalance. One of the important issues to deal with the labor crisis in the US is to get the yuan floated and that is how I interpret this. But I need to see the direct outcome, I am not going to assume anything when it comes to the chinese govt. They were making noise a few weeks ago that said they refused to float the yuan. We have a smaller problem with the yen, I am mostly concerned with the yuan.

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