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2005-01-27 China-Japan-Koreas

China open to discussing currency at G7 finance ministers meeting

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Posted by Secret Master 2005-01-27 11:37:01 AM|| || Front Page|| [3 views since 2007-05-07] Top

#1 al-Reuters, of course, played this as evidence that China is abandoning the dollar peg as a show of no confidence in the US economy.

Posted by VAMark 2005-01-27 1:32:28 PM|| 2005-01-27 1:32:28 PM|| Front Page Top

#2 Reuters may have slanted its reporting to suit its anti-GWB agenda. However, we cannot ignore the fact that China owns considerable US debt, and because we have twin deficits accumulating, China being part of our trade deficit and our too much spending deficit, there is some truth to China having to weigh its response to GWB's request in light of its being a major creditor rather than merely a major trader. In other words, China will unpeg the yeun from the dollar even though it will hurt its exports because it is concerned about its credit to the USA, about the value of its investment.

Posted by 2xstandard 2005-01-27 1:58:42 PM|| 2005-01-27 1:58:42 PM|| Front Page Top

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