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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 379.87

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Nov 11 4:00 PM EST

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To: THE ANT who wrote (61214)	2/18/2010 9:26:16 AM
From: elmatador	Read Replies (1) of 217705

Suddenly China change into a consumer society looks viable!China May Choose Wages Over Yuan Gains to Cut Surplus “Wage increases are a better option because they largely benefit Chinese workers,” Tao Dong, a Credit Suisse economist in Hong Kong who has covered the Chinese and Asian economies for more than 15 years, said in an interview yesterday. “Currency appreciation will only result in Chinese exporters losing out to competitors in countries such as Malaysia and Mexico.” Better even. It does not look like bowing to pressure from abroad. 'Resisting Pressure’ “Beijing will continue to resist pressure from the U.S. and other nations and look for ways that will benefit its own economy when it seeks to contribute to global rebalancing,” Tao said. “Higher wages will aid policy makers’ aim to boost domestic consumption and move away from depending on exports.” President Hu Jintao on Feb. 3 urged “no delay” in efforts to reduce dependence on exports and investment and boost service industries and consumption. China’s current-account surplus fell 35 percent last year to $284.1 billion as exports declined because of the global slump. Improved global trade is boosting demand for labor in China, which overtook Germany last year as the world’s biggest exporter. China’s overseas shipments jumped a more-than-forecast 17.7 percent in December from a year earlier and imports surged to a record. --Li Yanping. Editors: Paul Panckhurst, Chris Anstey businessweek.com

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