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Wednesday, August 01, 2007
Move over, let me do that...
Congress - without much supporting evidence of economic expertise - has decided it needs to mess with the Chinese economy. After all, it's barely growing at 12%. So we Americans should decide what their currency is worth. The administration unleashed its admonition as Paulson visited China once again, pursuing his favored course -- high-level talks with Chinese counterparts on a range of trade issues. Paulson has maintained that this Strategic Economic Dialogue remains the best channel for persuading China to allow its currency to float freely and to respect the norms of international trade.Danger here, methinks. China is already pursuing a vigorous foreign policy program in the Mideast to secure energy, they have a growing naval presence and just incidentally hold a mountain of US debt. We're not going to push those 1.3B folks around like Grenada. The leadership in China has a short fuse when it comes to outside interference. Like the administration, Congress seems to me to be headed for biting off far more than they can masticate. Labels: economics, international, trade
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China although I feel Bush and his administration shares most of the blame by indebting our country up to the nose with foreign countries, in particular China, to finance this totally nnecessary counter- productive adventure in Iraq largely done because Iraq is sitting on the second largest reserves of easily accessible oil which Bush and his cronies will never get access to no matter how many lifes and billions he wastes over there to get it. Meanwhile China is using its goodwill diplomacy and their economic strength to forge good relations with countries that can supply them with their growing energy needs which is what this country should be doing instead of squandering our military force as Bush is now doing.... Of course its continually denied that it isn't about oil but do you think for one minute that Bush and his cronies would have invaded and occupied Iraq if they were some agricultural country without vast oil resources?? I think not!! << Home US Farm Report host John Phipps surfs the Web so you don't have to...
About MeJan and I farm 1700 acres near Chrisman, IL. I have also written humor and commentary for Farm Journal and Top Producer for 13 years. Please visit my website (www.johnwphipps.com) to learn about my speaking services for your group's next meeting. ARCHIVES
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