<i<i know the chinese economy was built by diligent work, genuine reform, true savings, much investment, brilliant leadership
And if US and other global markets treated Chinese goods and investment (where Bejing requires majority Chinese ownership of corporations), who would they have been selling to in order to generate that reform, "true" savings (whatever you mean by that), and permit the Apparachiks in Bejing to look so brilliant.
I'm not trying to take away from how Chinese business has seized at the opportunity to take their export derived profits and invest it into China's development. It's long overdue for that development to take place, just as it is in so many other authoritarian/totalitarian regimes.
But if the US wasn't buying stuff from China and keeping several hundred million Chinese employed, what would be the situation?
What if we had focused on buying stuff from other countries, including Latin America?
So don't have any illusions about Chinese prosperity when it primarily comes from enormous trade surpluses and Bejing arbitrarily pegging it's currency to it's primary target market.
If you feel so confident in your leadership, let the Yuan float on global currency markets as the USD does.
you mean europe and japan also underwent "diligent work, genuine reform, true savings, much investment, brilliant leadership"?
What country has been the primary export market for those two economies since WWII? Who spent huge sums of money to rebuild their economies after the devastation of that war? Who has provided fundamental military subsidization since that time in order to preserve their sovereignty against hostile nations?
We wanted allies, so we opened our markets to their goods.
And now you've all loaned us trillions of dollars and you're upset because we're devaluing the USD to reflect our level of indebtedness (despite the fact that bond yields are near historical lows)?
Borrow $10,000 from a bank and not be able to pay it back, you have a problem...
Borrow $1 million from a bank and not be able to pay it back, THE BANK has a problem.
freedom hong kong is considering repegging to something other than basket of usd.
Why aren't you pegging to the Yuan?.. Wink, wink, nudge, nudge..
Hawk |
