Website review: China And The United States And The...
laodan discovered this in China
•1 reviews since Jan 13, 2008
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•chinalawblog.com/2008/01/china_and_the_united...
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laodan discovered 4 months ago- The Balance Of Financial Terror in China Law Blog by Dan
Brilliant (word NOT used lightly) article, entitled, The $1.4 Trillion Question, by James Fallows over at The Atlantic Magazine (h/t to China Economic Review Blog) Thesis is that China has essentially been subsidizing the United States for a long time and the key questions are whether this will continue, for how long, and what mind end it. Conclusion seems to be that it will continue because it is in the best interests of both China and the United States, but some major event might trigger its end. The Balance Of Financial Terror The $1.4 Trillion Question Chinese Yuan Rising? -- But What About China? Dan at "China Law Blog" is one of the best commentators about China that I know about. The rise of the RMB (Renminbi yuan) is indeed only for reason to mollify the US and EU. But what really matters is China's domestic politics and its strategy of economic growth at all risk. The 1.4 trillion dollar question is therefore how the Chinese government will answer the strengthening perception by its people that the nation's capital, generated at the cost of its workers' sweat, is being invested to keep afloat US consumption. Voices are growing louder in China claiming that capital generated by Chinese workers should be invested to answer the needs of a growing local consumption... In light of this; dollars held by Chinese institutions should thus, from a Chinese standpoint, be invested in US and other foreign productive assets instead of sustaining US consumption. One thing is sure. This is not going to help keeping interest rates low in the West...
- The Balance Of Financial Terror in China Law Blog by Dan
