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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (557096)3/26/2010 10:31:43 AM
From: RetiredNow  Read Replies (1) of 1583406
 
Are you worried about China keeping it's currency pegged to the dollar, and thus, keeping it artificially low in value? I am. To manipulate their currency, China has spent hundreds of billions of their trade surpluses to acquire US dollars. They then use those surpluses to finance foreign countries who need loans. Those foreign countries, who used to get their money from Western powers, then no longer feel the need to become more transparent and govern more effectively, while reforming human rights abuses. Why? Because they have alternative sources of funding...China. Instead, they feel pressure to increase human rights abuses by clamping down on anti-China sentiment and doing other things the Chinese government wants.

That is why we should all care about China's currency manipulation. Obama is doing exactly the right thing. I hope he keeps the pressure on China up. Bush certainly did nothing about Chinese currency manipulation during his two terms in office.

The Dark Side of China Aid
nytimes.com
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