January 26, 2005

More Chinese chicanery

So now they're saying that they've "lost faith in the stability of the U.S. dollar". Global economics being the bizzarre game of chicken/exercise in mob psychology that it is, this kind of thing is pretty mean-spirited, but exactly the kind of crap you can expect China to do.

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Posted by ryan at January 26, 2005 07:08 PM | TrackBack
Comments

yeah they are SAYING that but they still have their currency tied to our currency. And since China is growing at around 10% per year that makes any european investors more interested in investing in china but it puts them off from selling their wares in china because it costs them way more to make it in europe and sell it in china. I think the "game of chicken analogy is probably as close as anyone is going to get to describing world monitary policy.

[-p]

Posted by: pablo at January 27, 2005 08:46 AM
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