Thursday, November 11, 2010
Chinese leaders are as daft / devious as Western leaders.
Not for the first time, Wen Jiabao has been wittering on about the factory closures that will occur if the Yuan is revalued. Well, Wen me old mate, if the Yuan IS revalued, you can perfectly well make up for the lost demand from abroad by boosting demand at home. And you know perfectly well how to do this because you did this in response to the credit crunch.
But I suspect that factory closures are not your real concern. Like kings, emporors and every other type of political leader since the world began, you want to throw your weight around on the world stage at the expense of your own hard working and under paid citizens. And having a huge wad of foreign exchange enables you to do just that.