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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (66240)	9/20/2010 4:18:05 AM
From: axial	1 Recommendation Read Replies (1) \| Respond to of 217593

Good article. A lot of US maneuvering is political, for domestic consumption and media; the US wants Chinese help to get out of trouble, and "asks" for it by demanding revaluation. Globally front nobody really expects the Chinese to change course for the US. The US doesn't walk the talk: witness its constant haranguing of Japan to adopt Schumpeterian solutions. But when it came to the crunch what did the United States do? The same as the Japanese - extend and pretend. China (and indeed the global economy) have been badly damaged by neolib ideology in the form of economic and financial practices whose epicenter is the United States. Decades of data culminating in this crisis confirm steady economic degradation and accumulation of ruinous debt. The United States and Wall Street are no longer perceived as "fair dealers": to others, or to their own. No longer are they seen as Masters of the Universe in finance and economics. They've suffered enormous and justified reputational damage, and the world is retreating from them. The Chinese are quietly and carefully working with others to displace the USD as the world's reserve currency, while opposing the IMF and financiers along the UK/US axis by (for example) supporting Spain and Greece. "We HATE you guys." Message 26830627 Mainstream media in the US are self-centric: they promote a different view than that being openly discussed in Asia, Europe and the rest of the world. Most Americans have little idea of the cynicism with which US proposals are now received. At present, China's main interest lies in not adding to the economic damage, i.e., further destabilizing a fragile global economy. They're acting slowly and carefully. Why should they put US interests above their own? "But does the rise in Beijing’s foreign exchange reserves not prove that China is manipulating its exchange rate? Even here I am not convinced. China is likely to want to switch out of US debt into a broader range of assets, including American companies. Yet Congress could hardly be less enthusiastic. Indeed, given the House of Representatives tends to prohibit Chinese takeovers on national security grounds, China is almost obliged to invest its surplus in dollars." There are many sound reasons why China should reject US proposals to revalue. Jim

To: TobagoJack who wrote (66240)	9/20/2010 4:23:57 AM
From: elmatador	1 Recommendation Read Replies (1) \| Respond to of 217593

"Losing Control: The emerging threats to western prosperity"? For 60 years there was a possibility to make the emerging markets partners in progress. Western prospered by ignoring them. The only guy who came forward with a plan was Olof Palme with his south-south dialogue. When EU took under its wings the periphery (Ireland, Spain, Greeece and Portugal) it imposed a corset of 80.000 laws. Use them as markets to sell, loaned money and now they are at the precipice edge. We know that because we were fleeced! Mexico Freed trade agreement? Just mechanism to pay for its oil with goods. I am the specialist in poverty down here.