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Technology Stocks : Intel Corporation (INTC)
INTC 36.82+1.5%Dec 19 9:30 AM EST
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To: Road Walker who wrote (181372)5/26/2005 11:48:44 AM
From: GVTucker  Read Replies (1) of 186894
 
John, a bit OT.....

Note that the main article in the WSJ on floating the yuan is written by John Snow, who is part of the most protectionist, anti-trade, anti-free market administration we've had in decades. Yeah, floating the yuan might help Intel is some small part, but it would most probably be overwhelmed by the elimination of China's immense capital subsidy to the US that is necessary for them to keep the yuan fixed against the dollar. Let the yuan move 20% against the dollar, and our long rates would increase 200 basis points. That would be deadly to our economy right now.

Of course, the Bush administration has already shown that they don't care about hurting our economy with protectionist legislation if there's any political benefit to be had. Their China policy is yet another indication this.
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