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rffrydr
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Joined: 30 Oct 2005
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Location: Sunny California
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HenryTo
Site Admin
Joined: 06 Aug 2004
Posts: 11742
Location: Los Angeles, California
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 Posted: Tue Jun 12, 2007 1:32 pm Post subject: |
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Absolutely a ridiculous sight to behold - seeing U.S. politicians trying to play the role of George Soros.
| Quote: | | Qin disputed this on Tuesday, asking: "Is the yuan high or low? The US Congress says it is high, but whose standard is this? It is the US standard," he said. |
On a PPP basis, both the Sterling and the Euro is significantly higher than the dollar, but the legislative bodies in those countries do not go out of their way to protect companies who were not nimble enough to compete in the globalized world - at the expense of millions of Americans and countless global citizens that reside in China, etc.
If Congress does go through with this, then companies like Wal-Mart would just source their goods from somewhere else - such as Vietnam, Mongolia, and Bangledash. |
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rffrydr
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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| Posted: Tue Apr 10, 2007 10:11 pm Post subject: |
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Currency markets believed them--today at least:
| Quote: | | When Chinese officials caught wind of the filings, they quickly responded with public statements that unnerved currency traders. An official from the Ministry of Commerce said that they were “strongly dissatisfied” over the complaints. Far more pressing, and perhaps prophetic; the same person said the filing would “seriously undermine the cooperative relations the two nations have established…and will adversely affect bilateral economic and trade ties.” Whether this was a passive aggressive warning or genuine disappointment is not clear; but dollar traders took it to mean the former. In the past, protectionist moves like this have hammered the dollar lower; and this time around it seems to be no different. Depending on how intense the row becomes, China may respond by throttling back on its treasury purchases or even by imposing trade restrictions of their own. The investment community now awaits the G7 meeting to see if the issue may be addressed. |
http://www.dailyfx.com/story/currency/eur_news/Dollar_Driven_Lower_As_Trade_1176225449563.html
_________________
Today is the Tomorrow you worried about Yesterday! |
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Geoffrey
Junior Poster
Joined: 06 Apr 2006
Posts: 35
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| Posted: Tue Apr 10, 2007 11:19 am Post subject: |
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"...And with US WTO application over piracy develops: "
And how would they retaliate on this one? Pirate EU intellectual property instead? |
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rffrydr
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Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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TRS
Veteran Poster
Joined: 11 Aug 2005
Posts: 188
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| Posted: Fri Mar 30, 2007 11:10 am Post subject: |
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| China retaliates by diversifying further out of the dollar? At the same time Iran will start selling oil in Euros. Let's watch the bond yields soar on this news. Fed has his hands full. |
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