Tuesday, Oct 09, 2007
Be careful what you wish for...
FT.com: China resists European pressure on currency
I would imagine this is inevitable. After the trade imbalances are sorted out (which Europeans and Americans think benefit them) this will ultimately be in China and Asias favour. They will be the new places for global investment and the new reserve currencies. Lets see how quickly it occurs and how easy it is to suddenly replace cheap overseas goods (which are efficiently manufactured) with homemade goods once more.
Posted by whiteknight @ 03:24 PM (657 views) Add Comment
5 Comments
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1. benedict said...
Keep it artificially low for another couple of months please, once I'm back from holiday they can do what they like.
2. sovietuk said...
"They will be the new places for global investment and the new reserve currencies"
So presumably toilet paper will be worth more than Western currencies. Fall Guy Darling and Brown Bottle will certainly have their work cut out.
Ten Brown Bottles hanging on the wall, Ten Brown Bottles hanging on the wall......................
3. sold 2 rent 1 said...
Wasn't "Brown Bottle" a character from Viz.
He only appeared a few times in the early 90s.
He was a mild mannered bank clerk by day who was transformed into a raging idiot when he drank some Newcastle Brown Ale.
4. sirgoogle said...
It is real simple. Why does nobody in the EU have the b@lls to mention this?
If the Chinese do not want to float their currency we should put up trade barriers. Our manufactuing would benefit from this too.
Losing the EU as a market would hurt them more than us.
5. Scott said...
Correct sir google, but perhaps the government does not want to make an enemy of 1/4 of the world's population whose home country has the world's largest airforce, the worst prisons, and the strongest alliance with North Korea. Tread carefully sir google. We used to be an Empire. Today we are nothing more than an island.