日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Chen Weihua

Political capital to the cost of the people

By Chen Weihua (China Daily)
Updated: 2010-09-07 07:58
Large Medium Small

It was interesting to hear some politicians in the United States say they will not waste any more political capital fighting people like Senator Chuck Schumer, who is leading a lobby to pressure China to revalue its currency or face higher tariffs on its exports.

Political capital is clearly an increasingly important, yet scarce, commodity for the Obama administration and his fellow Democrats ahead of the mid-term election in November.

But while political capital is essential in an election for both the Democrats and the Republicans, the real issue is whether it is the right thing to do and not how much political capital it costs for an individual party.

This is the issue that should be addressed by Larry Summers, the top White House economic advisor, who is visiting China to seek concession from the Chinese on the revaluation of the yuan and a host of other concerns.

Although the yuan debate has gone on for years, if you read the New York Times or Wall Street Journal these days, you find there is declining support in the US for the obsession with revaluing the yuan.

In an Aug 20 article in the Wall Street Journal, Robert Pozen, chairman emeritus of MFS Investment Management and a senior lecturer at Harvard Business School, argued that the value of the yuan is not the main driver of the US trade deficit, and that the appreciation of the yuan relative to the US dollar may result in China losing low-end exports to countries like Bangladesh and Vietnam.

Pozen urged American politicians not to push so hard for yuan appreciation, instead he suggested the US should support higher wages and a stronger safety net for Chinese workers, which would increase the price of Chinese exports and thus reduce the incentive for consumers in the US to buy goods from China.

In a New York Times article four days later, Joseph Massey and Lee Sands, partners in an investment advisory and consulting firm, and respectively chief trade negotiators with China at the Office of the US Trade Representative in the 1990s, argued that floating yuan exchange rates won't fix the US trade deficit with China.

Citing a similar US experience with Japan in the 1980s, the two experts concluded that fighting China over the yuan is a losing battle for the US. They argued that a better solution would be to bring the vast pools of Chinese capital created by the American purchases of Chinese goods back to the US.

   Previous Page 1 2 Next Page  

主站蜘蛛池模板: 国产妞干网 | 毛片视频免费播放 | 国产精品久久久久久久天堂第1集 | 韩国三级中文字幕hd久久精品 | 国产美女免费网站 | 久久免费国产视频 | 在线中文字幕亚洲 | 特黄视频在线观看 | 午夜资源 | 一级片观看 | 偷拍青青草| 日本黄色大片网站 | 在线观看午夜视频 | 天天做夜夜操 | 亚州男人天堂 | 日日夜夜综合 | 调教驯服丰满美艳麻麻在线视频 | 亚洲精品无吗 | 天天曰天天| 超碰午夜 | 久久三级视频 | 成人国产在线 | 在线看国产 | 99免费在线视频 | 男人天堂2024 | 欧美日视频 | 久久官网 | 麻豆成人91精品二区三区 | 一区二区三区激情 | 成人毛片在线播放 | 六月婷婷久久 | www.亚洲| 青青久久久 | 国产精品成人一区二区 | 免费成人深夜夜视频 | 精品一区二区不卡 | 欧美日韩在线观看成人 | 色播激情网 | 四虎最新网址在线观看 | 国产一区二区三区免费视频 | 日韩欧美日本 |