[quote=flu][quote=Arraya]China lies more about their stats then we do. The whole world is in a hand basket.[/quote]
It must be a pretty good lie, because apparently a good portion of the world is convinced.
What I want to know is when the poor people in China get totally pissed off about the huge gap in prosperity and another unrest happens.[/quote]
Like I said, the peg stays….
China’s too smart to commit financial suicide right now until it has a plan B to replace us…They haven’t found one yet…I think what would be a more appropriate approach is similar to a game of monopoly. They start using their cash to buy U.S. assets left and right….
“NANJING, China (AP) — Chinese Premier Wen Jiabao says Beijing will keep the value of its currency, the yuan, at a stable and balanced level, shrugging off appeals for faster reforms.
Wen made the comment following a summit Monday with European Union leaders, who are urging China to move more quickly in loosening controls that keep the yuan, also known as the renminbi, linked to the weakening U.S. dollar.
Wen said that “to maintain the basic stability of the rmb exchange rate is conducive to the economy and the recovery of the world economy.”
He described as “unfair” demands for changes and accused critics of China’s policies as “practicing trade protectionism against developing countries.”
