tag:blogger.com,1999:blog-6022241666945681777.post6912199250968116063..comments2024-01-02T04:37:12.836-08:00Comments on Economic Despair: Selling out to ChinaEconomic Despairhttp://www.blogger.com/profile/15834343361456412739noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6022241666945681777.post-32198142264070657442007-05-05T13:58:00.000-07:002007-05-05T13:58:00.000-07:00"It is bad for poor Chinese workers, who are effec..."It is bad for poor Chinese workers, who are effectively subsidizing rich US consumers."<BR/><BR/>Chinese leaders don't care about Chinese workers beyond the workers being sufficiently happy to not revolt. At this point Chinese leaders need as much FDI as possible just to keep creating enough jobs to handle the rural to urban migration that is happenning in China, and thus preventing a revolt. Revaluing the currency would slow the FDI, causing unrest.<BR/><BR/>"It is bad for the US economy, which is building up huge liabilities with China."<BR/><BR/>To state the obvious, Chinese leaders don't G.A.F.F. about the US economy over the long run. I am sure the Chinese leaders are quite happy to hold huge amounts of US debt. The debt will be quite useful when they finally move to take Taiwan.<BR/><BR/>I'd love to see the situation change but in the short run it suits everybody, and America can't think beyond the next 10Q anymore.Anonymousnoreply@blogger.com