The Dollar and the Yuan

Turning the Tables

 

Treasury secretary Paulson and others urged China to let the Yuan rise without emphasizing the implied relative decline in the dollar.

Treasury secretary Geithner went to China to reassure Chinese officials about the strength of the dollar without emphasizing the implied relative decline in the Yuan.

By questioning the dollar, China has seized the high ground without changing its position.

The U.S. has changed its position while seizing the low ground.

Confucius say: Neither a borrower nor a lender be, especially a borrower.

Confucius also say: I smile!

Comments (2)

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  1. Sergei says:

    Confucius shares the same philosophy with Shakespeare!

  2. David N says:

    Is it worse to be the borrower or the lender? Most people assume the former, but if that were the case, would our banks be in such horrendous shape? If China (and Japan, and Russia, and OPEC) want to be paid back, they had better help our economy do well, import our goods and services, and not suddenly cut off the credit taps. We got ‘em just where we want ‘em !