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Recently, in a 348-to-79 vote, the U.S. House of Representatives voted to empower President Obama with authority to impose tariffs on Chinese imports if Beijing does not revalue the yuan, its currency, against the dollar.
Beijing firmly opposes the legislation.
China urges incumbent U.S.Senators to resist protectionism or face loss of badly-needed campaign donations.
The U.S.’s trade deficit with China is the result of changes in the international division of labor, and the U.S.’s own foolish domestic policies, not a consequence of the value of the yuan.
Don’t hijack the yuan exchange rate for political show.
The trade-weighted U.S. dollar index has depreciated by almost 40% over the last ten years vs. the world’s major currencies.
So it is the dollar that triggered the currency war.
Seemingly a market move, the depreciation of the dollar is active.
The move nominally aims to further drive down the interest rate in America to prevent the occurrence of a double dip, but it will affect the value of the dollar too, prompting the dollar’s devaluation.
In light of the history low short-term interest rates in the United States, a further decrease in the interest rate will drive the flow of short-term capital toward markets of emerging economies, quickening the appreciation of their currencies.
Secondly, the U.S. government’s strategy to double its exports within five years needs the considerable depression of the dollar.
America cannot pin its hope for economic growth on the false prosperity of its collapsed real estate market, and borrowing money from China will cease if the U.S. antagonizes China.
Even if the United States denies its motives to transfer debts, it will unavoidably happen in reality.
Given their sluggish economy and huge amount of debts owed to China, driving the value of the dollar down is in line with America’s interests, both in short term and in long term.
The international community ought to stay vigilant about the strong motive for active devaluation under the guise of a market-based move.
China's goods are supplying America.
Chinese money is keeping America alive.
Would it not be best to kowtow to your master?
Beijing firmly opposes the legislation.
China urges incumbent U.S.Senators to resist protectionism or face loss of badly-needed campaign donations.
The U.S.’s trade deficit with China is the result of changes in the international division of labor, and the U.S.’s own foolish domestic policies, not a consequence of the value of the yuan.
Don’t hijack the yuan exchange rate for political show.
The trade-weighted U.S. dollar index has depreciated by almost 40% over the last ten years vs. the world’s major currencies.
So it is the dollar that triggered the currency war.
Seemingly a market move, the depreciation of the dollar is active.
The move nominally aims to further drive down the interest rate in America to prevent the occurrence of a double dip, but it will affect the value of the dollar too, prompting the dollar’s devaluation.
In light of the history low short-term interest rates in the United States, a further decrease in the interest rate will drive the flow of short-term capital toward markets of emerging economies, quickening the appreciation of their currencies.
Secondly, the U.S. government’s strategy to double its exports within five years needs the considerable depression of the dollar.
America cannot pin its hope for economic growth on the false prosperity of its collapsed real estate market, and borrowing money from China will cease if the U.S. antagonizes China.
Even if the United States denies its motives to transfer debts, it will unavoidably happen in reality.
Given their sluggish economy and huge amount of debts owed to China, driving the value of the dollar down is in line with America’s interests, both in short term and in long term.
The international community ought to stay vigilant about the strong motive for active devaluation under the guise of a market-based move.
China's goods are supplying America.
Chinese money is keeping America alive.
Would it not be best to kowtow to your master?
