Paul Krugman has been the instigator of what is now a vast chorus to view the underevaluation of the Chinese currency as a serious problem. I do agree, sort of, but I extend the critique to the US dollar: it, too is undervalued.
So, according to Paul, China has got to be punished, because it exports its savings, and we are so incompetent, we do not know what to do with them, because we are not expansionary enough... As it is, this reminds me a bit of punishing people, because they saved too much, and were too industrious, thus owning too much, in part thanks of an alleged conspiracy of them... Hmmm... Was not that exactly the Nazis' main drift against a particular minority?
Being also as bad as they come, I also want to punish the Chinese, but only to encourage them to become better planetary citizens. I do think that the technological and economic, not to say social stagnation of the West is the West's problem, not China, and China ought not to be punished for it. Instead the West ought to be punished for not striving to stay on top of the existing hierarchy, and on top of the planetary problems we have.
Not to preserve the existing hierarchy will lead to instability, hence war. Same with not solving the drastic ecological problems (acidification, water, climate change, population growth).
If China manipulates its currency, it has to be proven beyond a reasonable doubt. First. Also the duties ought to correspond to the minimum of the proven depreciation; if the renminbi is undervalued by 10% minimum, then impose 10% minimum duties, etc.
China working hard and saving is a good thing. We ought to emulate it. What we ought to not emulate, and encourage China to get out of, is its carbon solution. Reigning in our plutocrats, in bed with the Chinese dictatorship, is our problem, not China's. Just as the plutocrats out-maneuvered the Nazis, in the end, they will out-maneuver China at the first occasion. They out-maneuvered us on health care, and with the on-going existence of their vampiric financial scheme. We do not want them to out-maneuver us again, using China as a trampoline.
http://patriceayme.wordpress.com/
2 comments:
Why delve into these hawkish strategic particulars? If you try to manipulate these vast dynamic systems you will only reap unintended consequences.
It is far more productive to fight for a society based on good faith and straight dealing than to support some particular power-centre now in the expectation that the stable dictatorship will evolve into some future utopia. You do not know what the outcome of another 100 years of Western dominance would be. Perhaps it is not even possible as the whole empire is built on sand.
The world is not a tabletop game of strategy, like chess. It is bigger than anyone's mind.
Why worry about hawks? Because they fly overhead, and rule. Mice maybe cute, and even able to eat each other, but they have no big talons and sharp beaks.
One could say Cheney never existed, let's not dwelve. Same for Hitler, same for the Holocaust. In many a European country that is viewed actually as so unethical as to be punished by law... Holocaust deniers have been sent to prison, even in the UK...
PA
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