Monday, January 16, 2006

China, Inc. Keeps Rolling

With its economy projected to grow at a "modest" 8% per year in 2006--it was growing by 10% annually--China has announced that its foreign currency reserves rose by 34% last year! (The US economy is growing at about 3% per year.)

This turn of events, Forbes notes, is largely fueled by the massive trade surpluses enjoyed by China with its trading partners from around the world, especially the US.

Notes Forbes:
Beijing is under pressure from Washington and other trading partners to let the yuan rise. They complain that the government-controlled exchange rate is too low, giving Chinese exporters an unfair price advantage and hurting foreign competitors.
So, far the government in Beijing is not budging on this matter. Is China, Inc. an arm of China, the unrepenant regime of repression, military build-up, and hegemonic designs? Duh!

Read the whole thing.
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4 comments:

  1. "ME" Liz Strauss1/16/2006 6:48 AM

    I guess you can't blame China for trying to keep hold of their only advantage. Nobody seems to play fair in the game of world commerce. They all need to be put in a room and told to start over.

    Still I have to say my favorite part of this post was, after hearing your voice a few days back, was recalling its tone when I read the word DUH! I'm still giggling over that!
    Liz

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  2. Mark Daniels1/16/2006 11:58 PM

    Liz:
    That's funny!

    I don't blame the people of China for their economic aspirations. But I do blame the government of China for using the Chinese people and asking the people to give up any claim on freedom in exchange for economic betterment. Just my thoughts.

    Thanks for dropping by and for your comments!

    God bless!

    Mark

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  3. "ME" Liz Strauss1/17/2006 8:06 AM

    Mark,
    I agree with your sentiments on China using the Chinese people in such inhumane ways. It makes me stop and think of how ingrained their thinking is having lived behind that GREAT WALL, both literally and figuratively.

    I don't begin to believe my mind can comprehend the complete rationale behind the culture and the think that for generations has treated people with such inequality. The math just doesn't work for me.

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  4. refr.1/17/2006 11:10 PM

    Yupe, Mark, your sentiments in replying Strauss just reflects our Chinese governments' altitudes towards the people, so now a lot of unrests were hidden after this economic boomings.

    ReplyDelete