Looks like Stiglitz has abandoned you, OH NOES: On whether the Chinese should increase the value of the yuan: “Yes, clearly the world has gotten to a situation where the yuan is misaligned. And there needs to be an adjustment. But we should understand that that will not solve the problem of America’s trade deficit. It might help a little bit, but we will just start importing textiles and apparel from Sri Lanka and Bangladesh, not from China.”
The Chinese have always agreed that the yuan needs to go up. Same with Stiglitz. The difference is that the Chinese will revalue the yuan in their own time No point rewarding currency speculators from the US eh. Don't worry Sammy.... the US economy might still remain no. 1 for a couple more years. No need to get jealous so quickly with the well-managed Chinese economy BTW, it is time to turn the US currency and financial system into a pariah. http://www.counterpunch.org/hudson10112010.html
Um no the Chinese say they agree but are doing differently - this has nothing to do with currency speculation btw.
The Chinese yuan has increased 25% against the USD since 2005. Difference is, now the US is manipulating its currency by trying to force it lower through QEII. Why should the Chinese sit back and allow this to happen? Gee Sammy, go on, beat the drum again and again. At the end of the day, let your government and the Chinese government play their game of poker, call their bets and show their hands. We'll see what happens then
First off, you're comparing an apple to an orange. Second, why should china let the yuan appreciate? Because Chinese mercantilism, in the form of the artificially low yuan, is bad for chinese as well, that's where inflation comes from. It's good for certain state-owned companies, but not good for ordinary Chinese. But you already know this, why are you asking about it? You need to take a position that makes logical sense, not just "China good us bad" - honestly if you want to go all "get a brain morans! China #1" on the internet, that's fine and dandy, maybe you should pick a different topic which is more suited to it and your skill-set.
