Author: middleway

China Has "Officially" Entered The Next Level Of Development [Copy link] 中文

Rank: 8Rank: 8

Post time 2008-5-25 12:48:05 |Display all floors
Emu,

Speculation isn't that big of an issue, actually, because the currency markets are pretty efficient for floating exchange rates. The major instability is caused by large peggers (I love how that sounds vaguely derogatory) who try to rebalance their portfolios, sloshing around hundreds of billions of dollars like bilge in a storm.

I disagree, however, on the currency value being in China's interest. China needs to shift to domestic consumption and keep in mind that undervaluing your currency doesn't help China in every way because it lacks adequate natural resources: its discount exports are a tax on imported industrial inputs. As long as the currency is undervalued (probably by about 38% right now) and pegged against the dollar, every person in China will pay roughly 30% more (you have to ex domestic resources, after all) for their goods in China. It's a massive tax that hurts families and farmers while helping fat cats.

For example, reconstruction in Sichuan would drop in price and increase in speed if the currency floated because Chinese would have more buying power. The money already earmarked for reconstruction would rise in value by between 15 and 25 percent, accelerating reconstruction by allowing China to tap foreign suppliers of finished goods more effectively.
"Justice prevails... evil justice."

Use magic tools Report

Rank: 8Rank: 8

Post time 2008-5-25 13:05:03 |Display all floors
emu,

An undervalued yuan makes goods you buy cheaper . What are you complaining about ?  You should be kowtowing to the Chinese for supplementing your budget , not deriding it .  Don't bite the hand that  feeds you , you ungrateful  lot .

Use magic tools Report

Rank: 8Rank: 8

Post time 2008-5-25 13:22:15 |Display all floors
Maybe he just cares more about the Chinese people than a twice-traitor like yourself, Mengzhi.
"Justice prevails... evil justice."

Use magic tools Report

Rank: 8Rank: 8

Post time 2008-5-25 13:51:03 |Display all floors

Non achiever .

Originally posted by interesting at 2008-5-25 13:22
Maybe he just cares more about the Chinese people than a twice-traitor like yourself, Mengzhi.


Baron Boring ,

I don't care much one way or another what you think of me . But to accuse me as a " twice traitor " is below the belt , isn't it ?  Who is a twice traitor ?  You need to use that toilet brush to clean your mouth out , scum .

Use magic tools Report

Post time 2008-5-25 13:55:54 |Display all floors

You are a triple traitor

Reminder: Author is prohibited or removed, and content is automatically blocked

Use magic tools Report

Rank: 8Rank: 8

Post time 2008-5-25 17:38:57 |Display all floors
Originally posted by mengzhi at 2008-5-25 15:05
emu,
An undervalued yuan makes goods you buy cheaper . What are you complaining about ?  You should be kowtowing to the Chinese for supplementing your budget , not deriding it . ...


Sure it makes things cheaper for me. I wasn't complaining about that.
What I was commenting on, was the disadvantages it imposes on the consumers of China.

Originally posted by interesting at 2008-5-25 15:22
Maybe he just cares more about the Chinese people than a twice-traitor like yourself, Mengzhi.


Exactly, something that Mengzhi doesn't understand.

I agree with your description of him as a traitor, too.

I understand that Mangy is originally from Malaysia, and now lives in Sydney, so he can rant all he likes about what's ideologically "good" for the people of the PRC, as he doesn't have to live there.

JB
"他不是救星, 他是一个非常淘气男孩" - Monty Python

Use magic tools Report

Rank: 8Rank: 8

Post time 2008-5-25 17:59:00 |Display all floors
Originally posted by emucentral at 2008-5-25 17:38

I agree with your description of him as a traitor, too.


Hang on a minute Emu.

If Mengzhi is origionally from Malaysia, how could he possibly be a traitor. Unless, of course you are saying that he is a traitor to Malaysia?
(mostly harmless)

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.