China tells U.S. Congress to back off

[EoinC]

...I hope that all of europe & america get rid of the protectionist subsidies so that smaller/less affluent nations can trade w/ us on a more = footing. Africa comes to mind.

The problem is that the US Goverment has made us remove our subsidies in order for us to be allowed to continue trading, but has been very lax at complying with their side of the bargain (eg. Wheat farmer subsidies).

 

[EoinC]

...MEET THE FANJUL FAMILY...

That was interesting, David. Where was this from? I find it kind of alarming when business is big enough to buy governmental decisions or favours.

 

[davidmc]

That was interesting, David. Where was this from? I find it kind of alarming when business is big enough to buy governmental decisions or favours.

http://www.opensecrets.org/pubs/cashingin_sugar/sugar08.html

 

[darkboong]

keep in mind that the Chinese gov't keeps the yuan "pegged" at a certain level so that they don't play by the rules in the currency market's. Hope I'm not putting anyone to sleep

The Yuan is *their* currency to do with as they please, pegging the Yuan to another currency is well within the rules. Show me a rulebook that says otherwise. My feeling is that China's moves are actually helping you guys out more than you realise, unpegging the Yuan would rock the US dollar boat pretty spectacularly (remember : Currencies can go up as well as down) ...

AFAICT China is being scapegoated for the abysmal financial record of the Bush administration, I am surprised that you are giving GWB's excuses so much time.

 

[MountainPro]

Where are not ready yet for this kind of relationship with China.

what type of relationship?

The Americans were quite happy to sell off the IBM pc business to Lenovo last year when it was losing money hand over fist.

Thats right folks, that great bastion of Americanism, IBM, is not only 'made in china', it is actually 'owned by china'

prices have dropped on the computers, quality and reliability have increased.

 

[davidmc]

what type of relationship?

The Americans were quite happy to sell off the IBM pc business to Lenovo last year when it was losing money hand over fist.

Thats right folks, that great bastion of Americanism, IBM, is not only 'made in china', it is actually 'owned by china'

prices have dropped on the computers, quality and reliability have increased.

When did you get back

 

[MountainPro]

When did you get back

Monday...but i wish i could have stayed...






perhaps....

 

[davidmc]

Monday...but i wish i could have stayed...

I would, very much, like to visit the U.K. before it is too late (I'm not getting any younger)

 

[darkboong]

I would, very much, like to visit the U.K. before it is too late (I'm not getting any younger)

It's a small enough place to see.

 

[davidmc]

BEIJING (Reuters) - "China finally bowed to two years of political and market pressure on Thursday by revaluing the yuan by 2.1 percent and leaving the door open to further rises by abandoning the currency's decade-old peg against the dollar."

Yay Now all they have to do is stop all of the piracy & maybe allow some free speech from time to time Letting some political prisoner's out of jail may help a bit too. A little less "sabre rattling" inre: Taiwan wouldn't hurt either What am I saying , thier gov't is as repressive as any other regime, of that nature, in the world

 

[davidmc]

The Malaysian Government keeps the Ringgit pegged to the USD (RM3.80 / USD1.00). China is not the only player choosing not to float. The US Government seems very happy to deal with Malaysia.

"Malaysia promptly did just that, scrapping the peg that had frozen the ringgit since 1998 and switching like China to a managed float."

See my post #30

 

[EoinC]

"Malaysia promptly did just that, scrapping the peg that had frozen the ringgit since 1998 and switching like China to a managed float."

See my post #30

It's spoilt my day! I now have to check the internet each time I do a USD transaction (many times each day). Life was so simple when the Ringgit was pegged. Oh well, the World moves on. Interesting move for both Countries. I didn't realise that you carry so much power, David.