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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (21201)	6/15/2004 10:10:50 AM
From: philv	Read Replies (1) \| Respond to of 81092

I really don't get it sometimes, probably most times. Why the Rand is so strong is a mystery. The Canadian Dollar is also showing weakness, this after reporting a better than expected trade surplus. Maybe in Canada's case it is the uncertainty about the upcoming election? Or maybe it is a case of known unknowns. But the SA Rand, with 40% unemployment, highest crime rate, & aids is indeed testament that all that does not matter. What about the fiscal & monetary situation in S.A.? Is it so rosy that it trumps all those obvious negatives?

To: sea_urchin who wrote (21201)	6/16/2004 4:05:44 AM
From: GUSTAVE JAEGER	Read Replies (1) \| Respond to of 81092

Re: The USD, the world's reserve currency is propped up by the slave labor of the Chinese... Well, at least Chinese "slaves" can afford the best French chefs: Message 15780586 It sometimes struck me that people --both in Europe and the US-- keep complaining about the unfair cheapness of the Chinese workforce and Chinese currency (renminbi/USD peg)... But why don't they view it the other way around? I mean, suppose I'm a car manufacturer who builds cheap models like Suzukis... Now, let's say I want to sell you my cheap "Suzuki" car for $50,000 --and I tell you it's a bargain! You'll certainly scoff at me and say that, for the same price tag, you'd go for a Lincoln Navigator or a Lexus! And, at that point, I'll give you the "Chinese tutorial": I'll curse those damn Yanks and Japs who build luxury cars with SLAVE labor, hence dumping them on the world market at unfairly low prices!! Lincolns and Lexus, I'll claim, ought to be sold for no less than $250,000 a piece!!! Get the picture? If Chinese firms can churn out cell phones at an average $80 retail price vs Nokia and other US/European cell phones selling for $200, which price tag is the "fair one"? Are Chinese products unfairly cheap or is it just the other way around --European/US products/services are OVERPRICED?? On a purchasing-power-parity scale, more and more Chinese are catching up with their Western counterparts. After all, membership fees for MAINLAND China's golf clubs already range in the $25,000+ per year... Houses in Shanghai suburbs sell for $400,000 on average... License plates are sold AT AUCTIONS in the city of Shanghai (in late 2003 a car owner had to pay about $4,000 to get his license plate). Of course, not all of the 1.3 billion Chinese are making it but then, how many Americans have missed the so-called American Dream... and slum it in a trailer park?