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Politics : PRESIDENT GEORGE W. BUSH
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To: JDN who wrote (766301)11/8/2007 10:28:34 AM
From: DuckTapeSunroof  Read Replies (2) of 769670
 
"Washington has been after them for years to reprice their currency and they refuse to..."

(You mean Bush has been REFUSING TO TAKE ANY SUBSTANTIVE ACTION for years now... such as simply having the Treasury department label manipulated currency exchange rates a 'violation of trade regulations'....)

"Perhaps now the worm will turn and OUR exports will soar."

Not with China, (or Japan), they won't. :-)

(You are forgetting --- their currency is PEGGED to the dollar. So, as much as the dollar falls, say, vs. the Euro or Cable... the CHINESE CURRENCY FALLS TOO. Thus: maintaining their export cost advantage with the rest of the world! In short, we gain no competitive advantage over China by letting the dollar fall....)
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