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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (48260)12/27/2005 10:13:50 PM
From: GST  Read Replies (1) of 110194
 
<I said that if the floated the RMB NOW it would crash.>

This is just silly. There is no reason whatsoever for the yuan to crash if it was floated now -- and you provided nothing logical that I could see. China does not float the yuan now because it would be next to impossible to deal with all the consequences of a much stronger currency. As for Chinese consumption, it is much larger than people realize -- the statistics on Chinese consumption cannot keep up with the growth of Chinese consumption. Until very recently, services were not given much consideration in Chinese consumption. To be sure, China sells a ton of stuff to the world. But those who are unfamiliar with the reality on the ground tend to have no idea of the wealth and consumption now there for all to see. Over the next ten years China will not merely see wealth transfered from the US. They are creating their own wealth and raising their own living standards -- albeit in ways that have very negative environmental consequences.
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