If the yuan isn’t stable, it will bring disaster to China and the world. If we increase the yuan by 20 percent-40 percent as some people are calling for, many of our factories will shut down and society will be in turmoil. If China’s economy goes down, it’s not good for the world economy.
This is China Premier Wen Jiabao, as quoted by Bloomberg News.
Get that? The United States should continue to export jobs to China as some sort of global social program. We should continue to give the Chinese people our jobs so they won't raise hell and revolt. We should allow China to continue to manipulate it's currency, capturing global manufacturing capabilities to keep the Chinese government in power. Wow. Maybe we should import Chinese potential social unrest, for the United States policies are stiffing the U.S. worker and the cries from the Populist are a muted whimper.
Jiabao also chastised the EU for joining the United States in demanding China re-evaluate their currency and blamed the United States for currency fluctuations. Businessweek:
Europe shouldn’t join the choir to press China to allow more yuan appreciation. The euro had a big fluctuation recently. It’s not because of yuan but the dollars. We shouldn’t be blamed for it; if there’s someone to be questioned, it should be the U.S.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
What ever happened to executive compensation reform? Like all great ideas, it died in Congressional committee, or watered down to meaningless if passed.
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