Saturday, October 24, 2009
Krugman Fumes at China
Once soaring high on their own hot air, economists like Paul Krugman have recently been deflated by China's deft moves towards divesting itself of its dollar burden. As a result, Krugman now fumes impotently at China's beggar-thy-neighbor policies. Sorry Kruggy baby, but the world is only big enough for one emperor, and that means the Chinese will not be carrying Obama's royal coattails - especially since he has no clothes anyway.
Subscribe to:
Post Comments (Atom)
9 comments:
http://christianitydevilworship.blogspot.com/
Hey all you experienced blog writers. Could I get some feedback as to how this attempt of mine is at writing a blog. I am not a very articulate person but would like to express my thoughts on Christian missionaries and their fraudulent deeds.
> the Chinese will not be carrying Obama's royal coattails - especially since he has no clothes anyway.
Priceless San, priceless
http://www.businessweek.com/magazine/content/09_44/b4153036870077.htm
Please give me your email address. thanks,
soumya
I differ. Krugman is finally talking sense when he says Chinese 'Beggar Thy Neighbor' policies are hurting everyone. Whether the West musters the courage to take on the Chinese is the question.
By pursuing a weak-currency policy, China is siphoning some of that inadequate demand away from other nations, which is hurting growth almost everywhere. The biggest victims, by the way, are probably workers in other poor countries. In normal times, I’d be among the first to reject claims that China is stealing other peoples’ jobs, but right now it’s the simple truth.
Inferno, I agree that China is pursuing a beggar-thy-neighbor policy which is hurting everyone including India, but I'm saying that the US Democrats seem to have been more interested in appeasing China to keep it as a counterweight against Russia.
Krugman wasn't taking on China as aggressively before, because he overconfidently felt that China was trapped into dependency on the US market, and would always be forced to buy more dollars. As we're all now seeing, his overconfidence was misplaced.
China is too big to be turned into a lapdog, and now even the Atlantic-leaning Democrats may be learning that lesson the hard way.
Well, the China appeasement policy was started by Bush Senior and was continued by Dubya. Irrespective of the party, the US can do nothing with Chinese "nuclear" option - their ability to destroy the USD and US economy overnight.
One hopes that the Europeans will take the initiative and bring pressure on the Chinese, but looking at their past record, it is just a pipe dream. At most, the Europeans will club India with China to blame, but will never act against the Chinese.
Some idiot with initials ZS posted on my blog that I am not a Hindu but masquerading as one. Well ZS do not tell me who I am. STFU.
Post a Comment