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

[Neubarth]

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.” ....

 

[Neubarth]

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.

 

[waltky]

China gettin' to be dat 800 lb. gorilla...

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

Public concern is growing about China's increasing economic power, according to a new global poll conducted for BBC World Service. The survey was carried out by the international polling firm GlobeScan/PIPA among more than 28,000 people in 27 countries. It reveals that the respondees who say that China becoming more powerful economically is a bad thing have increased substantially across a number of China's key trading partners—and especially in the major rich countries

Compared to BBC World Service polling in 2005, negative views of China's growing economic power rose - and are now in the majority - in the US, France, Canada, Germany and Italy. Negative views also grew significantly in countries such as the UK and Mexico but remain outnumbered by positive views in those countries. But across the survey as a whole, China was still viewed positively.

Across all countries polled, an average of 50% expressed a positive view of China's economic power, while 33% were negative. The two nations with the most positive views of China's economic growth were in Africa - Nigeria (82%) and Kenya (77%). Indeed positive views were in the majority in all five African countries surveyed. Across the developing nations polled, positive views of China were more numerous than negative ones - with the exception of just one country, Mexico.

'Psychologically unsettling'

 

[konkon]

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.” ....

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