China in spotlight over currency

[dArKeR]

As it struggles for a strategic response to the sudden eruption of complaints about its currency, China is slowly coming to grips with its new role as an economic powerhouse on the world stage.

China has tried to keep a low profile in international disputes in recent years, knowing that its economic growth depends on political stability and smooth relations with the West. But the fast-rising controversy over its refusal to revalue its currency, the yuan, has thrust it into an uncomfortable position as a target of blame in the world spotlight.

The wave of foreign criticism and political pressure is unprecedented in China's economic history. For the first time, it has gained such a powerful position on world markets that it is blamed for millions of job losses in the United States, Canada, Europe and Asia. And with the U.S. election season approaching, the outcry will only grow noisier.

http://theglobeandmail.com/servlet/story/RTGAM.20030803.wyuan803/BNStory/Business/

http://darker0darker.tripod.com/

[Code_Name_D]

1. Okay soooooo

Jobs being shipped out of the US of A, and into China, is now, China's fault.

Never stoping for a moment to think that China might in fact be ingenring this for their favor. But of course, that would not sit well with PNAC, would it.

[phgnome]

3. Not China's fault

Hey, a country ought to do what's best for itself. It's not their fault they weren't in debt at the time of the great economic fall. It's the first time in almost three and a half centuries (about 100 years before the rise of communism, China went through a 250 year period of really bloody civil war and for about a century after that, it needed communism to regain social, economic, and political stability) that China has been ahead of the game and the second that they do, it's "their fault".

In about 40 or 50 years, it will be ready for democracy.

Why is it China's fault? Any of us would do the same thing as China if we were in China's shoes.

[Code_Name_D]

5. Perhaps I should turn on my sarcasem light.

( ^-^)

[phgnome]

6. I was just adding to your point

because I hear lots of people in the media who are seriously blaming China for making economic policies in its own interests.

[German-Lefty]

2. China = Japan II

Yet the politics of the issue are beginning to resemble the Japan episode. American conservatives, who previously portrayed China as a military threat, are now focusing on China as an economic threat — just as Japan was seen in the past.
Maybe some of our last economic boom was at the expense of the Japanese. As far as I'm concerned let the Chinese do what they want. If we screw up thier economy maybe they will be a threat.

[phgnome]

4. I doubt it

I doubt the West now has the capcity to hurt the Chinese economy. The West can pick a fight with China all it wants but it cannot deny that some components of communism is favorable in cushioning an economic fallout.

Perhaps the West should adopt *components* of a Marxist style economy that would help us get out of economic turmoil. Although it might not go over well with the boomer voters, who have heard all their lives that anything even remotely communist is inherently "eeevil", yet who have absolutely no understanding of what Marxism actually is or that it is only an adaptable model.

EDIT: spelling error.