Saturday, September 18, 2010
U.S. woes are not our fault, Chinese economists say
I find it humorous that China still denies running a mercantilist economy. They knew just as well as everyone else that American's rely all too much on debt, and I don't think China has anyone to blame but themselves for being in the spotlight.
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Americans rely on debt, but I also believe that this is part of how we grow. By going into debt, we free up money to invest in other places.
The article mentions China's undervalued currency which makes investment and trade with China more attractive to foreign countries/investors, but it also reduced the value of money that the Chinese people hold. One of the main international concerns when it comes to China are their human rights violations and poverty. If the value of money held by the Chinese people were to increase they would be able to raise their standard of living (hopefully).
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