WSJ,March 12,2010 Page A6: Change the value of China's currency vs US Dollar
A plurality of economists cited a consumers retrenchment as a BIGGEST RISK looming over the economic recovery. Such rationale is similar or identical to my prior blog apropos of the value of Chinese currency yuan or Renmingbi. If consumers pay more for Chinese products,more retrenchment would occur leading more risks for economic recovery. The only way is to see the gradual changes,not sudden change for the well-being of USA and China.
USAToday-March 12-14, 2010 page 1A: Springing forward -Remember to adjust(set) your time pieces(clocks and watches) one hour ahead at 2 a.m. on Sunday March 14, 2010.
Page 2B: US dollar is the currency people want in a crisis. The Chinese yuan, which most people feel is an eventual successor to the dollar as a reserve currency is still pegged to the dollar, and it is not fully convertible to foreign currencies. However,the cooperation and collaboration of RMB with Hong Kong dollar should be watched to see the eventual convertibility in the years to come.
China remains one of the largest buyers and holders of Treaury securities.
USA and China should work together for global economic recovery in the 21st century as both nations are linked together economically especially in the global context.
An Ad with photos on page A5,Washington Post,March 12, 2010
From the producers of Band of brothers: The PACIFIC: A 10-part miniseries event based on the true stories of World War II Marines.
I remember WWII very well as a student at St.John's University,Shanghai,China from 1943-1946. I witnessed the cruelty of the war and wish to see peace and economic development for humankind in the 21st century.
Francis Shieh a.k.a. Xie Shihao on Friday,March 12, 2010 at 1.16 p.m.