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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (31270)	10/23/2010 11:51:12 AM
From: Giordano Bruno	Read Replies (1) \| Respond to of 71477

The US called for an accord on "norms" for exchange rate policies and also suggested nations limit any surplus or deficit on current accounts to 4 percent of their gross domestic product (GDP). "I don't think it's an easy task to reach agreement in merely two days on such a specific target, as this has to get a nod from many nations, rather than some individuals," said Huo Jianguo, director of the Ministry of Commerce's Chinese Academy of International Trade and Economic Cooperation. "Such a proposal seems to be more in favor of the US itself and a few nations, instead of most emerging markets and export-oriented economies. It is not reasonable for the US to demand that others make concessions for its own economic benefits," Huo said. Pang Zhongying, a professor of international relations at Renmin University of China, agreed. "The US is doing nothing but issuing orders." "The US' loose currency policy helps the dollar fall, which indirectly leads to appreciation of other currencies worldwide. Therefore, the US cannot find reasons to urge other nations to coordinate currency issues," said Pang. chinadaily.com.cn inflation.us