i guess the manchurian candidate is finding it hard to talk back to his daddies in beijing. so he will do the next best thing - take it out on the indians.
http://www.ft.com/cms/s/0/7e8bfed6-d3b2-11de-8caf-00144feabdc0.html?nclick_check=1
the yank actually are in a stronger position than china (better to owe money you have no intention of repaying than to have a client you need to keep paying) - except the chinese have their manchurian in office.
1 comment:
The Chinese are actually getting a lot more for their money than the Americans. While the Chinese will eventually have to take a hit on their fx reserves it will be more than worth it. So far up to 60% of china's holdings are in dollars so they have been diversifying. China has also kept its currency artificially low, so when the ponzi scheme ends China will simply raise the purchasing power of all the chinese people by floating the rmb. What did China gain from this little experiment? Not only did they obtain technology and technical expertise courtesy of America they also now have to deal with a fundamentally weaker America in the future. China recently posted a supercomputer in the top 5 courtesy of American technology. Let's not forget all of the missile guidance system tech that Clinton sold to China in the 90s and then some.
Post a Comment