Page A1: Allen Sinai,President of Decision Economics: "It's still arguable whether recession will set a new record on depth. I hope not,but we don't know." Economist Sinai is honest as I remember the aphorism by Professor John K. Galbraith: "There are those who don't know and those who don't know they don't know."
Page A15: Treasury Lead Role in China in flux(fluctuating) My comment: Treasury's role on US economy is in flux as well. I have reason to believe that Tim Geithner will continue Paulson's policy for mutual benefit. Any negative policy actions would hurt both nations. Confucius said:" Do not do to others as you don't want others do to you." It would be "ji suo wu yu,wu shi yu ren." in Pin Yin for such motto. Paulson said that he would expect China to play a part in his life as he goes to China on Wednesday,Dec.3rd for US-China Strategic Dialogue. He admits that he has a very poor ear for languages. In other words,Paulson is in no position to compete with Tim Geithner who speaks Mandarin well. Knowing a language may be an asset in negotiation since issues may be lost in translation. It is said that Adolf Hitler never trusted any translator!
The foreign exchange rate is determined by the Law of Supply and Demand in theory. Howver,China maintains its peg to the dollar which has risen in relation to other trading partners. The financial crisis has driven up the US dollar. Readers may ponder and reflect such outcome as logical consequence.
Francis Shieh a.k.a. Xie Shihao, an octogenarian reader to share thoughts with other smart younger readers with thanks. December 2, 2008 at 1.52 p.m.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment