Quote:
Originally Posted by Udog
I'm thinking long term. The impression I get is that China is artificially keeping the value of the Yuan low compared to the American dollar so we will export our business. Eventually, they won't need to do that anymore.
Short term though, I agree. If the US economy crashes completely right now, China is screwed as well. This is part of the reason I'm not ready to follow through with the "buy Yuan" theory just yet.
|
They won't? Oh, they WILL. Know why? Because they're so technologically behind that once their workers start demanding higher standards of living and the world starts demanding that they don't throw so much pollution into the air that we can read it from California, and "the China price" gets eroded from within, China will just become a sad excuse for American capitalism.
Right now, China is growing. America and Japan are far, FAR ahead of it still, and always will be. America had its OMFG BOOM period, so did Japan, as did all of the other first-world economies.
Just because China is in the midst of one now doesn't mean it's suddenly going to become an economic superpower when its only claim to world competition means short-changing the people within its own borders.