In addition to Joseph Stiglitz (2001 Nobel prize for economics), another Nobel prize winner, Robert Mundell (1999, in economics), suggests today that China should NOT change its currency exchange rate.
"My position, since 1994, has been strongly against changing the exchange rate," Mundell said, "China has had a dollar anchor for over 10 years, and it's a winning policy."
Mundell argued that any change by China would in fact have little effect on American trade deficits. This is the same argument made by a number of other prominent economists, such as Alan Greenspan and Joseph Stiglitz.
Mundell compares China's growth with Japan's economic rise in 50's and 60's, he said the real phenomeon is "China's competitive shock," and this shock "isn't a monetary issue and can't be addressed by monetary measures," such as the exchange rate.
New York Times economics columnist wrote yesterday that "China's pegged exchange rate has brought stability to Asia, and the Chinese boom has tugged Japan out of recession and increased prosperity worldwide." and "In recent years, China has supplied almost one-third of the growth in the global economy, compared with the 13 percent that came from the United States." He also said it is US, not China, destablize the world economy and "US has a history of offering Asia economic advice that proves awful. U.S. pressure helped produce Japan's disastrous bubble economy and aggravated the 1997-98 Asian financial crisis."
By the way, in case you don't know, these two Nobel economics prizer-winners, US Fed Reserve Chairman, and New York Times economics columnist are not communists. And they didn't get any pay to say this.
He spreads God's words for himself.
Just try to help, com20002005
by: steperjack02 10/09/04 12:44 am
Msg: 23896 of 29190
I am not insulted. I just try to help you.
You know, com20002005, believing in God do help you. Especially at time like this, you have to pray to the God. God will help you.
Where you live? I can introduce you to a Chinese church, they have nice people there to help you.
Keep posting on Yahoo board won't help you.
another old post from com2000's alias name: "tip_you_back". He uses one alias to say another alias good point. He masturbates himself online.
Who is Threatening Who?
by: tip_you_back 10/08/04 09:14 pm
Msg: 23863 of 29189
You made a good point!
I have caught com2000 uses alias before. He finally admitted it. He even said only the "contents count", alias doesn't matter. He simulates the conversion between different alias, one alias to say another alias has good post or good point.
cyber, Contents Count
by: com20002005 10/10/04 09:02 pm
Msg: 23943 of 29187
Yes, com stands for COMMENT & tip stands for TIPS for some special topics. I use those in different occasions depending on the conversation.
There are many people use that in discussions or even writing articles, the real concern YAHOO has is the ABUSE.
[See YAHOO's warning message, before you post!]
If you don't like that, I will use only com20002005. By the way, IS YOUR 103 years-old REAL?
Again, ABUSING people is a criminal act and should not happen on this board.
I don't think they are the same. Actually, I think tsmstrong is a nice guy. The only thing about him that sounds weird to me is that he wants Sucker to say something he likes and he thinks that is fair.
As for the other guy, he sounds like a street boy, who keeps comparing his toy with others':"my toy is the best! my toy is the best!" while wiping the snot off his mouth.