Weak Chinese currency to ruin US economy with cheap imports from China

[lovuian]

http://english.pravda.ru/world/20/91/366/16443_yuan.html

The USA has repeatedly warned China of possible consequences in the event the latter decided to fix the yuan value

The question of strengthening the Chinese currency, yuan, has surfaced again on the threshold of George W. Bush's visit to China. The Chinese Central Bank announced the country's intention to return to the fixed yuan rate. The US administration has set out its concerns regarding the decision: President Bush said at a recent meeting with Asian journalists that the USA would like China to continue the revaluation of the national currency. The American leader said that he would like to address to China's leader Hu Jintato and say that the market determination of the yuan value would contribute to the favorable development of the global economic system.

snip...This kinda says In your face George!!!
Spokespeople for the Bank of China have not released any comments regarding the recent statements from the US president. The Chinese economy is still on the rise: the economic growth in the country made up more than nine percent in 2005. The claimed requirements of the US administration do not fit in the short-term plans of the Chinese Central Bank.

[Born Free]

1. China will do what is best for China

Wal-Mart, China's main outlet, is helping make China the #1 economic superpower.

[aquart]

13. Wal-Mart is a fifth column foreign agent.

[countmyvote4real]

2. THE worst POTUS ever.

Doesn't he understand that he sold US to them in the first place? For what? So Jesus would come back and save his ass? Rapture? Impeachment? How about whatever comes first.

[Freedom_from_Chains]

3. The US administration has set out its concerns regarding the decision:

Memo from China to USA: We don't really care what your concerns are.

[ticapnews]

4. Wasn't this LBN about 15 years ago?

Is the media just picking up on this now? :P

[Wilms]

5. LOL. That's what I was thinking.

:freak:

[csorman]

6. My thoughts exactly

This has been going on for years and now it is as if the world is just waking up to it. Y'all should read "Wal-Mart Nation" (I think that's what it is called) - it goes in depth about this issue. It is amazing to compare the monetary figures re: what Wal-mart has gained from cheap Chinese labor - and they turn right around and call this an American phenomenon.

[Skittles]

8. you know it, csorman

welcome to the DU

I am ordering that DVD about Wal-mart from Buzzflash.com

[csorman]

10. Excellent

Thanks for the welcome!

I haven't stepped foot inside a wal-mart since a couple of years ago when my friend spilled some kind of coffee drink all over the interior of her car and insisted we stop for paper towels. I said it was worth it to keep the stains for a few extra miles but she would not give in...

Enjoy the DVD - I hear it's great!

[Skittles]

11. Minneapolis, huh?

I was a GI brat (meaning no real home) but my dad was a born and raised Minnesotan (Caledonia, extreme southeast corner). :D

[lovuian]

7. Notice guys and gals this is a Russian newspaper!!!

ours are cheering the cheap imports on!!!

[Peter Frank]

9. Complain to The President...

...presiding over the monumental American debt that China's holding (and propping up our deficit spending) -- which China's using as financial leverage against us.

(And to think -- Bush used to bash Bubba for his Chinese connections.)

[ckramer]

12. Sex is the best entertainment that humans could ever invent

This is found in the same page of the linked story.

[pinniped]

14. Every country on this planet has received a warning from these POS...

thieves in the wh.

China to *, Fuck off.

[Robert Oak]

15. such a joke

They gave China US manufacturing, US jobs, literally educated Chinese in engineering and science and now that China has all of the power..

this rhetoric is bunk...China doesn't have to listen to the US, as if
the US isn't being run by multinational corporations who don't care
about the US long term as long as they can spread and increase the sucker consumer populations.

[Name removed]

16. Deleted message

Message removed by moderator. Click here to review the message board rules.

[DoYouEverWonder]

17. Just what we need

more crap to buy.

I want to see the citation in the history books, 'US Economy ruined by Americans' compulsion to buy useless plastic shit'.

[formercia]

18. Germany rearmed after WWI

by having a weak Mark and exporting cheap toys and watches, combined with bonds floated by the Harriman brothers to rebuild steel production capacity.

[BiggJawn]

19. "TO ruin"? as in "Is going to happen"?

I think it's already happening.

Damn, I hope they don't call in the loans. I'm having enough trouble learning to speak Russian, I don't think I could handle Chinese....