China Must Be Confronted on Currency

I don't think the US administration or most Americans care about the developing world. They don't even care about the poor and disposessed in their own country. If China revalues, temporarily their people will get a bonus in terms of cheaper foreign goods. Medium term a lot of them will lose their jobs. You only need about 2 million people working the small amount of arable land in China with modern farm equipment. Unless China manages to move appx. 1.25 billion people into satisfying hi-reward, high-skill jobs somehow, I can't see total de-pegging happening soon. It would also mean that people in the USA won't get 1/2 gallon bottles of apple juice for $3 or netbook computers for $400. There is also the other side of the coin. Who on earth thinks it's right that in the USA governments Federal, States. cities; corporations; and individuals should be running up debt as they've done? Who asked the USA to be the world's policeman and start unecessary wars such as that in Iraq thus generating a large part of the US debt? Why were/are financial houses gambling with leverage on derivatives (not exactly real work)? Why does the US government allow this by printing money or continue to issue Treasury Bonds? If the US didn't issue Treasury Bonds then the Chinese, Japanese, British and Middle Eastern goverments wouldn't be able to wash their US dollar holdings. Just stop it and stop blaming others. Reply

Is this guy a fucking loon? Doesn't he know that the only reason we are still financially afloat is because the Yen is still tied to the dollar? IF they did that our economy would tank quite quickly. Reply

FYI: The Japanese Yen, India Rupee, etc. are also pegged to the dollar abeit less tightly so than the Chinese Yuan. Reply