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Renminbi and dollar
Yapchongyee  Updated: 2005-05-18 10:43

China need not revalue her yuan/renminbi. The US$/renminbi peg is not any bilateral agreement, and the USA can if they want to sell to China cheaper devalue the US$. No one is forcing the USA to hold their exchange rate as they have today. They can do what is asked of China and devalue; this is common sense and the USA has no strings to pull.

The USA cannot dictate to China. What will the USA do if China asks the USA to devalue ? Why must China suffer ? Why not the USA suffer ? The problem with the USA is that she can only see what others can do for the USA and not what the USA can do for others. There is no commonsense that China has to sell "expensive" when it is to the advantage for China to sell "cheap." The USA can also sell "cheap" if they can but they cannot because the Americans want to live at a level that is 100 times better than the people of China; Therefore why should the Chinese make life better for the Americans by 100 times better than their own ? Why is it not the responsibility for the USA to live 50 times lesser than the Chinese instead of 100 times better than the Chinese ?

Competitiveness is about achieving effenciency; if the USA is what they say they are (the most competitive society)then they should be able to beat the Chinese at what the Chinese are ding so well. The USA must be able to sell much cheaper than the Chinese. Having said that the USA must compete better and become better than the Chinese. What is the worth of the WTO if it is not aimed at producing at the most efficient and therefore at the cheapest ?

CHEAP LABOUR IS CHINA'S COMPETITIVE ADVANTAGE AND IF CHINA SURRENDERS THIS ADVANATGE THEN CHINA WILL BECOME ANOTHER THIRD WORLD PRODUCER AND AT THE MERCY OF THE USA> I say to our leaders in Beijin not to revalue at the demand of the USA. The Americans will have to find their own solutions and not depend on China to take the fool's "ROAD"

The above content represents the view of the author only.
 
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