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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (12672)	1/17/2011 3:04:40 PM
From: sandeep	2 Recommendations Read Replies (3) \| Respond to of 223295

China is a joke. They can't replace the dollar with anything. EDIT: Let me elaborate. Consumers decide what they want to pay in when the producers depend on the consumers. US is the consumer. If not for US, China will go back into the stone age. If China says we want you to pay in Yuan, US will say we move to Combodia or India or whatever. China can't sell all this stuff to others. So, it will blink. Now, you may say that China could tell others that they want to get paid in Yuan instead of dollars. That, they can do. But it still helps China to consolidate all trade in US dollars and demand that US dollar not fall off the cliff. It is easier that way. Really, China is a very backward country compared to the sophistication of US finance, technology and generally everything. They are in no position to demand anything from US. I read some of the comments from Mr Hu today. He is making no sense. I am surprised WSJ let him get away with this nonsense. Must be because WSJ doesn't really like Obama admin and also want to expand in China. I would really like US to move out of China for most manufacturing. It is a very bad country to do business with.