Sure, but all that debt is denominated in dollars, of which we control the supply. If they float the yuan, the US would immediately become competitive in global manufacturing again. The trade deficit would be erased, possibly even reversed, and we would take back all those dollars that we lost through their currency manipulation. That's what *should* happen in a connected global economy, but the Chinese government is preventing it, thinking (quite foolishly) that it is to their advantage to artificially maintain a low currency peg.
On Mon, Apr 12, 2010 at 5:27 PM, Medic <[email protected]> wrote: > > Wouldn't that be bad though. Isn't China one of America's biggest creditors? > > > On Mon, Apr 12, 2010 at 8:13 PM, Robert Munn <[email protected]> wrote: > >> >> My opinion - until the Chinese government allows the yuan to float, screw >> them. >> >> >> http://amfix.blogs.cnn.com/2010/04/12/assessing-chinas-impact-on-america/?hpt=C1 >> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:315717 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
