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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (249823)	7/14/2003 8:29:31 AM
From: UnBelievable	Read Replies (1) \| Respond to of 436258

I Need A Faster Computer I can't buy fast enough with this one.

To: MythMan who wrote (249823)	7/14/2003 4:30:59 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

Global: The Scapegoating of China Stephen Roach (New York) July 14, 2003 A persistently weak global economy is now moving into a dangerous place -- the blame game. Temptations are rising to point the finger elsewhere rather than look in the mirror. Such sentiment is nearly unanimous in singling out a new scapegoat: a rapidly growing Chinese economy. I have picked this up in my recent travels to Japan, Europe, Australia, and around the United States. World opinion is becoming increasingly united in putting pressure on China to defuse this threat by revaluing its currency. In my view, that would be a serious mistake. The world has got the China story dead wrong. "snip" I have spent a lot of time in China over the past five years. And I continue to be astonished at the progress this vast nation is making on the road to reform and prosperity. But China has a long way to go, and it is far from perfect. Its people and leaders will be the first to admit that. It is only now beginning to recover from the devastating blow of SARS. But I continue to believe that China is the world's greatest development story of the 21st century. Its emergence will not only benefit the 20% of the world that lives in its most populous nation but it will also benefit the 80% of us who do not. Periods of economic distress often produce scapegoats. China is at risk of becoming a scapegoat in today's increasingly dysfunctional global economy. It's high time for an increasingly inward-looking world to look in the mirror and put this dangerous blame game to an end Read the rest here: morganstanley.com