posted
In his second rebuke of U.S. leadership this past week, the central bank governor, Zhou Xiaochuan, said China's rapid response to the downturn -- including a 4 trillion yuan ($586 billion) stimulus package -- proved the superiority of its authoritarian, one-party political system.
"Facts speak volumes, and demonstrate that compared with other major economies, the Chinese government has taken prompt, decisive and effective policy measures, demonstrating its superior system advantage when it comes to making vital policy decisions," Zhou said in remarks posted on the People's Bank of China's Web site.
once again i ask simply why are we doing business with them?
they are not capitalists, they do not beleive in Democracy...
they would never have been able to grow like this without US as clients...
we do not need them for anything. the only thing doing business with them acheives for US is that we can buy more "stuff" with fewer dollars today, but tomorrow? we will not have those dollars back...
it is a proven fact that China allows it's peopl to ignore as much copyrighted property as they can...
when the Chinese President Hu Jintao came the US a couple of years ago? he visited Bill Gated befroe he visited President Bush...
why? because Bill Gates was verifying authenticity of all Windows programs before allowing them to be updated to prevent serious security breaches...
Bill may actually have been smart enough to build the original system to need those updates (i doubt he would ever admit it tho ) ...
if he didn't then? he should be doing it now.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
Fearful of any moves that might weaken the dollar and imperil China's estimated $1 trillion in Treasuries and other U.S. government debt, Chinese Premier Wen Jiabao has urged the United States to remain "a credible nation." In other words, Beijing wants Washington to avoid spurring inflation with excessive government spending on bailouts and stimulus packages.
To keep the value of its own currency steady -- some say undervalued -- the Chinese government must recycle its huge trade surpluses. The biggest, most liquid option is U.S. Treasuries. But a weakening dollar saps the value of those investments.
The Chinese "are being hurt more than anyone else by the mismanagement of the dollar," said William Overholt, an expert with Harvard University's Kennedy School of Government.
does the writer of this article not see the hypocrisy in this?
the Chinese have a trade surplus... that's their plan.
the US ha no choice but to devalue the dollar...
we have to because China refuses to allow the Yuan to unpeg...
this has been inevitable for years and both the US Treasury and the Chinese know that and have known...
the Chinese have a trillion dollar surplus in US bonds?
they need to spend that like everybody else does..
i cannot beleive our own govt has ENCOURAGED this travesty.
Echoing proposals that have been debated for years, he urged the International Monetary Fund to create a "reserve currency" based on shares in the organization held by its 185 member nations, known as special drawing rights, or SDRs.
Such a move would "achieve the objective of safeguarding global economic and financial stability," Zhou said in an essay released by the central bank both in English and Chinese.
US joining that would be the last straw..
US drug laws came about thru a treaty with the Chinese..
the only thing that a TREATY like that would insure is less US sovereignty...
protectionism? it's not q bad word. it's synonymous with security.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:they need to spend that like everybody else does..
you lost me, there--we need them to keep buying, no?
they need to spend their cash surplus on goods/services from other countries like everybody else does.
they are running their country as if it was a corporation competing against the rest of the worlds countries and corporations.
their actions IMO, are an act of war.
i do not understand why no-one else seems to see this.
it would be differnt if they were selling oil and had a small population, that i can at least understand how a trade surplus is created.
they are the opposite. they have over billion consumers. that's the "brass ring" our coroporate community is reaching for.
the Chinese govt is not trying to create a billion consumers tho.
they are trying to acumulate State Wealth. they OWN their country.
the one party system means that no matter what happens, the leader of the party makes every decision based on what's good for the PARTY.
in the 80's when i was in Japan? i thought i'd buy a Sony Cam corder.... they were more expensive in Japna than they were in the US...
and they were made in Japan then.
today? the play station is made in China, and they are more expensive there than they are in Hong Kong, which is China's domain but not part f China.
China imports alot of resources. they are not rich in resources. they basically have a labor force and alot of coal. they are much like Japan until the Japanese hit certain capital value point.
the difference this time is that China has a million man arny and is Communist. They have made a big start to built a huge industrial base on our PATRONAGE. They don't thank us for buying their goods tho. they think we are stupid. and i am not sure i can argue that they are wrong.
one rule change made by a couple men, Hu Jintao and his board of directors, and every foregin asset held in China is state owned... just like Chavez did to teh oil co's in Venezulae..
Wal Mart set up their stores there... they gave the Chinese access to their whole inventory control system which is a very impressive process...
all of the co's that have packed up their manufacturing equipment and moved to China could lose everything they have in one day with no previous notice...
and i expect that to happen becuase no matter how much people try to convince themselves that China is "going capitalist"? they are not.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
IP: Logged |
quote:they need to spend that like everybody else does..
you lost me, there--we need them to keep buying, no?
they need to spend their cash surplus on goods/services from other countries like everybody else does.
they are running their country as if it was a corporation competing against the rest of the worlds countries and corporations.
their actions IMO, are an act of war.
i do not understand why no-one else seems to see this.
it would be differnt if they were selling oil and had a small population, that i can at least understand how a trade surplus is created.
they are the opposite. they have over billion consumers. that's the "brass ring" our coroporate community is reaching for.
the Chinese govt is not trying to create a billion consumers tho.
they are trying to acumulate State Wealth. they OWN their country.
the one party system means that no matter what happens, the leader of the party makes every decision based on what's good for the PARTY.
in the 80's when i was in Japan? i thought i'd buy a Sony Cam corder.... they were more expensive in Japna than they were in the US...
and they were made in Japan then.
today? the play station is made in China, and they are more expensive there than they are in Hong Kong, which is China's domain but not part f China.
China imports alot of resources. they are not rich in resources. they basically have a labor force and alot of coal. they are much like Japan until the Japanese hit certain capital value point.
the difference this time is that China has a million man arny and is Communist. They have made a big start to built a huge industrial base on our PATRONAGE. They don't thank us for buying their goods tho. they think we are stupid. and i am not sure i can argue that they are wrong.
one rule change made by a couple men, Hu Jintao and his board of directors, and every foregin asset held in China is state owned... just like Chavez did to teh oil co's in Venezulae..
Wal Mart set up their stores there... they gave the Chinese access to their whole inventory control system which is a very impressive process...
all of the co's that have packed up their manufacturing equipment and moved to China could lose everything they have in one day with no previous notice...
and i expect that to happen becuase no matter how much people try to convince themselves that China is "going capitalist"? they are not.
gotchya, I thought you meant selling financial instruments...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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