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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (152500)	11/23/2004 8:35:23 PM
From: Sun Tzu	Respond to of 281500

Meanwhile, the world is not taking Bush at his word that he has a "strong dollar" policy and is losing faith in the USD fast and is at an all time low against the Euro. The real danger here is that beyond a certain point, USD can implode. According to some expert on Leher News Hour, "The problem is that we just consume too much...the dollar is at least 10% overvalued". Bush's solution: Administration officials want Germany, Europe's biggest economy, to loosen labor laws to make it easier to hire and fire workers. They want France to reform its pension system and Japan to push its banks to clean up non-performing loans. China's cerntral bank's deputy governor comment: "China's custom is that we never blame others for our own problem. For the past 26 years, we never put pressure or problems on to the world. The US has the reverse attitude, whenever they have a problem, they blame others."