China and the WTO. Wow. How are we ever going to pay off the debt to China? When will China allow its currency to appreciate against the dollar? Something bad is going to happen here. It looks like some form of austerity is going to have to happen in the future - we are collectively spending our grandchildren's money.
Corporate Fiduciary responsibility - the bottom line - watch out, don't forget your responsibility is first to the corporation.
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I recall in the 80's people said Japan was going to own the US because they were buying up our currency, property and companies. They over purchased, overpaid and then had a recession in their own country. Then they had to sell back the assets at reduced prices and the U.S. came out of the cycle better off afte the cycle. Is this the same thing happening again with China or is this different?
ReplyDeleteThat is the outcome that China is worried about, so they are not letting their currency float, or suddenly all their US debt is worthless and they can't export anymore, which is the primary driver of their economy. If this doesn't happen, we (the US) owe somebody a LOT of money.
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