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Obama karma (Read 5334 times)

Soren

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Re: Obama karma
Reply #45 - Nov 13^th, 2012 at 3:54pm

Karnal wrote on Nov 13^th, 2012 at 2:49pm:

Amerika's decline is in no one's interests, including the Chinese. But the exclusion of China would be even worse. This, after all, is exactly what led to WWI and II when Germany and Japan felt left out.

China is hardly 'left out', if anything, it is allowed to get away with too much - viz exchange rates distorting its trade balance with everyone.

« Last Edit: Nov 13^th, 2012 at 4:02pm by Soren »

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Karnal

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Re: Obama karma
Reply #46 - Nov 13^th, 2012 at 4:04pm

Soren wrote on Nov 13^th, 2012 at 3:54pm:

China is hardly 'left out', if anything, it is allowed to get away with too much - viz exchange ratees distorting its trade balance with everyone.

That's strange. You seem to believe China should have no say over its currency, but you believe the US has every right to respond in kind with tariffs.

Australia used to peg its money to the US dollar, and before that, the British pound.

Almost every developing country regulates its currency. In Cambodia, they even use US dollars. I'm not defending it, but I do believe it's hypocritical to blame China for doing something every country has been guilty of at some stage, including the US.

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Soren

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Re: Obama karma
Reply #47 - Nov 13^th, 2012 at 4:12pm

Ah, an example of 'multiculturalism' in the international trade arena. International trade and finance with 'Chinese characteristics'.

When everyone regulates his currency in accordance with the flight of birds, you'd be mad not to do the same. But when your main trading partners allow their currency to float and be determined by the market and you keep yours artificially low simply to rip them off as much as you can - then you have yourself a Bowen of a country.

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