A Chinese banker told me today that he believes China will have to devalue the yuan before its all over.
Look at this:
biz.yahoo.com
From Japan's finance minister this evening. Insert head in sand and make statement to international press:
"I don't think the dollar/yen rate is the cause of global stock price declines. Each country is grappling with its own problems, so it isn't appropriate to trace the source of all problems back to Japan."
I told this story before, I believe, but the most popular movie in Japan when my wife and I passed through there in 1982, depicted the U.S. drawing Japan into WWII. The lines were wrapped around the theatres for days.
Those complete and total boneheads could learn a lesson from now deceased, gangster rapper, 2Pak Shakur. "Keep it real" (explatives deleted).
Personally, I think once the Asian recession bottoms next year, China will emerge and eventually eat Japan's lunch. The world will be a better place.
I predict war in Asia in another 20 years. Japan and China. At the time Hong Kong becomes 100% Chinese, they will take Taiwan, too. In the process, they will truance non-nuclear Japan, with non-nuclear weapons, and all the rest of Asia (who had their butts kicked by Japan in WWII) will support China.
It will be an Asian-thing, and the US will not be in a position to send it's sons to their death in a Gigantic Vietnam. Asia is Asia is Asia is Asia. They have their own, unspoken Monroe Doctrine, and it ain't none of the West's business. |
