Revaluing the yuan helps no one

last SG · 2005-12-16T09:36:10+00:00

No, that's naive... It will move to the next low labour cost country likely Vietnam. Our govt has infact lay basic foundation there. China has also a huge c...

Salman SG

consumers are also out of jobs because of it.

Salman SG

So you deny that the Yuan is devalued. End of story. Good for you buddy.

sgdiehard SG

I think he just doesn't know anything. Smile

sgdiehard SG

don't avoid the issue, when did I say about export subsidy???

Gazelle SG

If manufacturers are not allow to shift their operation to a lower cost country, the manufacturer will go belly up too, and that will mean more job losses.

Can you imagine how much a pair of NIKE shoe is going to cost if they shift their operation from Indonesia back to USA? Are you willling to pay S$300 for a pair of NIKE running shoes, when you can get a better quality Made in China addidas for half the price?

Salman SG

What good would cheap Nike shoes be if one is unemployed? I'd rather be employed anytime.

All i am suggesting is no export subsidy thru under valuation and compete on equal terms.
Why should the Indonesians, singaporeans and Americans go unemployed because of the unfair Chinese export subsidy? Please explain.

Surely what you say is good for the Chinese must be good for others as well right? what if everybody starts doing the same thing like the Chinese? would that be good? Are you getting the idea now?

Again, why are you people so one sided in your views? What for?

Gazelle SG

Assuming if Yuan did appreciate by another 20%, that will mean that their USD200 per month salary will go up to USD240 per month.

Are you willling to work for USD240 per month? Is there any american willing to work for USD240 per month?

sgdiehard SG

you keep talking about others having one sided view, what exactly is your view??

Are you speaking from the view of a consumer in america, a manufacturer in China, Indonesia or American, the government of china, america or singapore, the workers in china, indonesia or america??? One thing is certain, what is good for one may be good for some but will not be good for all the others!!

what are equal terms?? please explain.

You have not explain how does a devalued yuan work as export subsidy works for China??

Salman SG

based on your argument, if valuation doesn't matter, why would the Chinese want to under value in the first place?
You realise how silly you are now mr.Gazelle?

Gazelle SG

You arguement is about job in Singapore and america, and Yes, adjusting the Yuan a few % here and there will not help whinners like you do get a job. dream on loser!!

Salman SG

Looks like your are stuck contradicting logic & common sense.
Plus you showed you have no decent grasp on world economics.
Good for you mr.gazel.

boy in blues SG

"Even if China adopted a more flexible currency it would have limited impact on the economic imbalances of large countries," the China Securities Journal quoted the People's Bank of China as saying.

Ironing out the imbalances, which include a big U.S. current account deficit and large surpluses in Asia and oil-exporting countries, principally required the efforts of the major economies, especially the United States, the central bank said.

The bank pointed to the United States' "double deficits" as the primary cause of global economic imbalances.
Washington had the responsibility to reduce its trade and budget deficits and increase its savings rates to restore balance to the global economy, the bank said.

The comments contradicted remarks by U.S. Treasury Secretary John Snow earlier this week that the United States was not to blame for growing global current account imbalances, which he said were a sign of uneven global growth.

Snow is under presure from U.S. law-makers to declare China a currency manipulator, a step he declined to take on Monday.

http://za.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2005-12-01T064115Z_01_BAN124105_RTRIDST_0_OZABS-ECONOMY-CHINA-YUAN-20051201.XML

Gazelle SG

I have not time for kids like you. when you get yourself into high school please give me a shout..hopefully itis not about looking for a job

Salman SG

bye bye

snow leopard SG

hello Gazelle, don't be unduly disturbed by the bird man ... all in all i should say you make a lot more sense than him ... though this a debatable issue that even economists are not single minded about ...

Salman SG

I exposed the biased nature of your views and all of you turned bigot immediately. You simply can’t justify your arguments.

snow leopard SG

you merely exposed yourself to be a hermaphroditic salamander ... and i think no one deserves the titlle "you can't justify your arguments" better than yourself

Salman SG

Yu see, you people are stuck in your arguments. You don’t even dare to back upo your stand.

Gazelle SG

I believe most people just dont want to waste their time arguing with you, partly because of your inability to answer simple questions.

AF2005 SG

US has two foreign policy. ANd can go in either direction in favour of president election, the biggest support.

China is the mkt, evryone knows that and they have to be there, 24/7, all operations in china for efficiency and fast.

EVen singapore has overvalue dollar for some countries and over value for other countries. The multiple factor is always changing.

Rigth now undervalue yuan is good for singapore as we get students, workers and professional here and construction workers and prc girls. This somehow account for their spending here. If overvalue, they will go straight to europe and US. If they can damn afford harvard and stanford, why go NUS?

The casino is not for show, its for the day when overvalue yuan will create ever richer chinese and 30 000 jobs here when the redesign of jobs in service sectors. Jobs here will still be loss due to geographic changes and restructuring. you can see mnay jobs loss here are due to restructurely and moving closer to mkt place. From sales to manufacturing to supply and transport. The greatest fear is they bypass singapore for las vegas and reno except for spill over.

Right now a under value yuan is good for all of us and gradually increase. A sudden over value will kill china mkt and the first casualty will be singapore.

« Previous Page Next Page »