China = USA 20% to 40% Gain in Yuan

Discussion in 'Economics' started by bearice, Sep 24, 2010.

  1. Chinese Premier Wen Jiabao said a 20 percent rise in the yuan would cause severe job losses and trigger social instability, putting the nation on course for a clash with U.S. lawmakers demanding a stronger currency.

    “We cannot imagine how many Chinese factories will go bankrupt, how many Chinese workers will lose their jobs, and how many migrant workers will return to the countryside” should China acquiesce to demands for a 20 percent to 40 percent gain, Wen said in New York yesterday. “China would suffer major social upheaval.”

    Complete article-:
  2. then its WAR!!!!!
  3. As I have written earlier "World War 3 is the ultimate fate of mankind".
  4. joe4422


    So let the US have all the problems so the Chinese can benefit while they plan to conquer the world. Are we really so stupid?
  5. I doubt they want to conquer the world, they once had a naval fleet 3 times the size of the spanish armada and they grounded it of their own accord. A very insular people.
  6. How many Yuans make up a US dollar?.
  7. "They" never grounded it....the emperor of the day not only grounded it but had the ships dismantled and destroyed as he feared the chinese admirals of the day would gain too much popularity amongst the people and he would pale in was basically just politics
  8. Eight


    so he's admitting that China isn't shit without a continuous massive transfer of wealth from the US... same as Cuba and Russia... same socialist shit different decade..
  9. And "Progressive-ism = Communism"
  10. zdreg


    he isn't admitting anything. china is trying to slowly let the air out of a of balloon. they are likely cutting back of US government paper and selling existing paper into the secondary market. a 20 to 40% revaluation of a currency would hurt china in the short run but would not much for the US as other countries export more to the US. In the mean time time china is diversifying by building plants across the world and buying natural resource property across the world. the US is on the verge of economic collapse. china is diversifying its exports to rising economies ie asia, germany, canada and brazil.

    people in the US are clueless to how much power and influence the US has lost in the world.
    #10     Sep 26, 2010