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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Peter Dierks who wrote (748467)	8/31/2006 10:01:46 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769670

Re: "There is great risk in allowing the Chinese currency to float freely." You coming out FOR Communism and command-driven economies and managed exchange rates now, Peter? :-) (Of COURSE there is 'risk'. There is RISK anytime ANYTHING is changed... but that in no way implies that managed rates are 'better' then free market set rates!) For Free Markets to be fair, all participants should work from the same rule book. If they don't, it ain't 'free markets'. And, the LONGER this state of affairs persists, the greater the artificial imbalances that will build-up in the system, and the worse the consequent backlash and correction will be. (On the other-hand, regarding your choice of the word 'risk'... the Chinese character for 'crisis' is the combination of two other characters: risk and opportunity. With change also comes OPPORTUNITY.) "It would very rapidly rise and cause economic disruption to every nation that trades with her." 'Rise rapidly' --- maybe, maybe not. Only time will tell that. 'Economic disruption' --- HaHaHa!!!!!!!!!!! What do you think they are causing NOW in the global economy??????? Most of Asia can't let their currencies appreciate until China does first. They are endangering the ENTIRE world system of trade.