Bush: China should let currency float ( & embrace freedom of religion)

[Kadie]

Bush: China should let currency float

39 minutes ago Politics - AFP



WASHINGTON (AFP) - US President George W. Bush urged China to let its currency float and pushed Beijing to embrace freedom of religion.

"We have a very complex but a good relationship with China right now and I intend to keep it that way," Bush told the American Society of Newspapers Editors convention.


"On trade, we're pressing China, for example for floating their currency so we can have free and fair trade," he said.

snip...
"With human rights, we expect China to be a society that welcomes all religions," said Bush. "I am constantly reminding China that a great society is one that welcomes and honor human rights for example, welcome the Catholic Church in its midst, doesn't fear religious movements."

more...
http://news.yahoo.com/news?tmpl=story&u=/afp/20050414/pl_afp/uschinabush_050414194938

[Neshanic]

1. Givin' a bit o' religion to our banker. They are communist,monkey boy.

[Democrats_win]

2. Bush's words are becoming meaningless. Ask Israel's Sharon

[Sanity Claws]

3. Bush on Economics and Religion? Pleeze!!

He has no credibility in either area. I look forward to the Chinese telling him that. They don't pull their punches in addressing the US as much as other countries do.

[izzie]

9. I was thinking the same

Specially with his backers wanting a Christian Country, and look what this man has done to this countries debt. What happened to all his friends in SA and keeping oil cheap? Didn't he say he could do some thing for that when he was running?

[AlCzervik]

4. i'm sure China's leadership is shaking in their boots

while they're buying more military gear from Russia on our dime.

[daleo]

5. Money and religion

The two things dearest to Bushco and their type, especially when they are combined together.

[UCLA Dem]

6. As if we have freedom of religion here! If the fundies have their way...

[Fire Walk With Me]

7. No one remembers that China forcefully occupies Tibet

"With human rights, we expect China to be a society that welcomes all religions," said Bush. "I am constantly reminding China that a great society is one that welcomes and honor human rights for example, welcome the Catholic Church in its midst, doesn't fear religious movements." -W

Bush certainly doesn't remember.

http://www.tibet.org

[Selteri]

11. I got an especially good laugh at that

conisdering the head Bishop in China has to keep himself secret.

[Fire Walk With Me]

15. There is a Chinese Bishop?

The question speaks for itself!

[VegasWolf]

8. Chinsa to Bush: Screw you, you keep your crazy fundies. n/t

[Selteri]

10. I can see the head of China... and many other countries

reading that statement from Bush then laughing so hard that he sprays his oolong.

[cliss]

16. That was a very nice image.

I had no trouble visualizing that. I can just see Chairman Hu doing that.

[Lisa]

12. would you accept economic and civil rights advice from this man?

Mr. "huge crushing deficit" and "Gitmo/Patriot Act" Bush?

[thethinker]

13. Really smart . . .NOT

Everything we buy is made in China. The reason we haven't noticed an increase in prices is because their currency is tied to ours. Ours is in the toilet, and headed down.

If they let theirs float it would go up, way up, since they manufacture products and export. Ours would continue down.

What that would mean is everything the average American buys would double in price overnight. Paying double for gasoline is about all most average Americans can afford. If everything else we buy doubled in price it would really hurt the poor and middle class.

Again, this was not a very smart thing for him to say unless he wants to see another depression.

[chunkylover55]

18. You got the details right, but the big picture way wrong.

Yes, China ties their currency, the Yuan, to the dollar. They artificially manipulate the currency markets so when the value of the dollar falls, the Yuan also falls.

We buy so much from China because their imports are so cheap. If the value of the Yuan was allowed to rise (like it should) against the dollar -- all of sudden items from China would get more expensive. So over a period of weeks and months Americans would stop importing items from China. Instead we'd start producing more at home or import them from somewhere else where they are cheaper. In essence, the trade deficit with China is so huge because their stuff is so cheap -- and its kept cheap by keeping their currency value low. Revualing the Yuan would relieve the enormous trade deficit we have with them. It would also help bring jobs back to America.

I think congress should slap imports from China with an across the board tariff that counters the effect China gets from keeping its currency cheap. Its being discussed but I doubt Bush would have the guts to let it happen.

One other thing -- if the currency was revalued it would not be something that happens overnight. China would have to slowly start allowing it to rise, rather then allow the value to be determined by the free market overnight. So there wouldn't be this sudden spike in the value of the Yuan that would shock both the economies of the U.S and China -- which are now inextricably linked.

[leesa]

20. Free trade's a bitch, ain't it! Didn't we want them to peg the Yuan to

the dollar. When it doesn't go our way we cry foul. Suck it up baby. It's their right to do it.

[chunkylover55]

21. NO. We never "wanted" China to peg the Yuan to the dollar.

In doing that they are violating the principles of free trade, by "subsidizing" the prices of their exports. Its their right to do it as much is its our right to levy tariff's on imports from other countries.

[Theduckno2]

23. How exactly do they keep it low?

Is it by market action by a central bank, or just legislated by the government. In other words what actions do the Chinese take to fix their currency? Perplexed! :shrug:

[David__77]

14. "China urges Bush to float down the river, with no boat."

Who cares what Bush thinks about China's monetary policy. China was unscathed by the speculation-provoked Asian "financial crisis" thanks to the fixed currency. China is a rock of Asia economically and should maintain its correct course.

[magnussun]

17. Freedom of religion, basic

Bush has a way of slipping in absurd ideas with valid ones. Freedom of religion, definitely. Currently floating? He wants it to float into the hands of people like George Soros, or the republican versions thereof.

[leesa]

19. I LOVE to see Bush promoting the Catholic Church! The Fundies HATE

the Catholics.

[wickerwoman]

22. Hu Jintao: Talk is cheap, monkey boy.

It's not like Bush is in a position to demand anything from China so he can "urge" until the cows come home and nothing will happen without an incentive for change.

And it's very interesting that in Bush World accepting Catholics is such a novel example of tolerance (but if you're Jewish or Muslim, I guess you're still fucked.)