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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (33992)7/21/2005 9:08:23 PM
From: Elroy Jetson  Read Replies (1) of 116555
 
Leonard Rist created the US Dollar peg system for Singapore when he was Economics Director for the World Bank. The results have worked well for Singapore.

America never complained about this because only because Singapore is nothing more than a single city. The same was true of Hong Kong, and the few Latin American nations which have a dollar peg are quite small. China on the other hand is too big to attach themselves to the US economy.

In any event, the American government should have been complaining about the Chinese government loans being made to virtually every industry, and which are unlikely to ever be repaid. These subsidies are the real source of the problem, not exchange rates.
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