Revaluing RMB an internal issue
raymondusa Updated: 2005-02-16 15:54
I'm sure USA would not want any foreign countries to dictate its internal policies. But out of ignorance and unfounded arrogance, as epitomized by you, poor yankee, there is still some silly posturing like you are still living in the past.
Let me give you a clue, poor yankee. Foreigners now hold over 40% of the US Treasury. Translation: US is in no position nor does it have economic leverage to dictate any policies with regards to the RMB. If you didn't know, the pegging started in 1994. We are now in 2005. If US was so economically powerful, why can't it unpeg and move the RMB relative to the dollar? Poor saps like you, yankee, have no answers, but just more silly posturing.
You want to know when the RMB is going to move? It's really simple. When China is ready to buy things, like assets in large numbers, that's when it's advantageous to move the RMB upwards to benefit from the currency premium. I've really dumbed it down for you since you cannot make up your mind.
Currency premium:
When selling stuff, the currency premium is to lower the currency to gain pricing advantages in exports, and pricing premiums for imports.
When buying stuff, the currency premium is to raise the currency, to enable one to buy more stuff with less money. Simple, simple, simple.
I'm sure a poor sap like you is looking for a scapegoat to blame for your failures in life. But instead of trying to blame China, look in the mirror. If the typical American didn't overspend, saved more money, and the government didn't overspend and practiced fiscal responsibility, it would be irrelevant what the currency exchange is with China. Perhaps you are the type that thinks everything would be okay if only those Chinese would revalue the RMB?
Typical poor yankee - unable to deal with economic reality, living in the past, lamenting his sad future, and looking feverishly for a scapegoat to blame, instead of taking responsiblity for your sorry life. And you got rid of Chinese equities? RIGHT!!! As if you even know what Chinese equities are.
When you say the west can push harder economically - GET FREAKEN REAL! Need I remind you US is the borrower here, and China is the Lender. When was the last time borrowers dictated terms to their lender? Tick, tock, tick tock! Don't overtax your brain trying to posture here!
Thanks for another good laugh!
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