Bernanke Reiterates Criticism of China Policy to Keep Yuan Low By Scott Lanman - Feb

Discussion in 'Economy' started by Neubarth, Feb 18, 2011.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Bernanke Reiterates Criticism of China Policy to Keep Yuan Low
    By Scott Lanman - Feb 18, 2011 7:49 AM PT

    Bernanke Reiterates Criticism of China Policy to Keep Yuan Low - Bloomberg

    Federal Reserve Chairman Ben S. Bernanke reiterated his criticism of China’s limits on the yuan, saying countries with large trade surpluses should let their currencies appreciate to aid the global economy.

    “The maintenance of undervalued currencies by some countries has contributed to a pattern of global spending that is unbalanced and unsustainable,” Bernanke said without identifying China in a speech today in Paris. Those countries “will need to allow their exchange rates to better reflect market fundamentals and increase their efforts to substitute domestic demand for exports.” ....
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    Note that China has made an effort to let Domestic economy grow so as to fuel employment with that means rather than trying to undercut other countries in the global marketplace. The US lets the Dollar float. Europe lets the Euro float. England lets the Pound Float. Japan lets the Yen Float. Only China is not playing the game by the international rules.

    It is time to start threatening (My policy that Obama knows well) China. Either they float the Yuan, or we block their imports into the United States. Europe and Japan would do likewise if the US ever showed some Cajones.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    China gettin' to be dat 800 lb. gorilla...
    :eek:
    China's new economic power fans fear, BBC poll finds
    27 March 2011 - The value of China's currency is a major source of concern for many nations
     
  4. konkon
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    konkon Member

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    This was a very good article. Thanks for bringing it to our attention.
     

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