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To: Skywatcher who wrote (24525)	6/23/2005 11:18:44 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 48463

You watching Greenspan & Snow talking about China on cnbc? John Snow wants China to play by the rules dammit!!!!! I suggest all read this post, in case you missed it. Message 21443093 Within the United States, the issue of appreciating the RMB is also controversial. Producers of manufactured goods and textiles are in favor of appreciating the RMB. However, many American companies, such as aerospace companies, computer manufacturers, discount retailers, and other companies that depend on Chinese factories to supply inexpensive products and components, are against appreciating the RMB. Furthermore, many economists have pointed out that manufacturing jobs have been declining in the United States for decades. Some people have suggested that blaming the lack of job growth on the value of the RMB is merely a convenient misdirection on the part of the vested interests, including the George W. Bush administration, inefficient businesses and labor unions, fearful of competition. The financial consequences of free valuation are complicated. Many economists believe that appreciation of the yuan would cause the Chinese government to buy fewer United States treasury bonds, causing bond prices to fall and bond yields to rise, hampering improvement in the U.S. economy. The ensuing depreciation of the US dollar might price oil out of the reach of the american economy, causing stagflation, a collapse of US oil dependant industries, massive unemployment and other dire economic consequences.