Krisztus beszállt a küzdelembe
Az Úr megmentette Amerikát nemcsak egy káros politikai garnitúrától, hanem magától a gonosztól is.
We should discuss currency issues with China, but the exchange rate should not be at the top of the bilateral agenda.
„It is unlikely that a stronger renminbi would bring many jobs back home. Instead, companies would most likely shift labor-intensive production to Vietnam, Indonesia and other low-wage countries. And in any case many high-skilled jobs will continue to flow overseas, as long as cheaper talent can be found in India and elsewhere. Only in a few industries, like biomedical devices, would a stronger Chinese currency combined with quality issues tempt American companies to keep more manufacturing at home.
Don’t get me wrong: China’s currency policies have led to unhealthy artificial distortions in the Chinese and world economy. They also fuel currency wars that threaten to undermine the cooperation needed to sustain a global recovery. And while the effect on American workers is far less than imagined, workers in the developing world stand much to gain from a faster renminbi appreciation.
We should discuss currency issues with China, but the exchange rate should not be at the top of the bilateral agenda. The issue is best left to the Group of 20, for this is as much the rest of the world’s problem as it is ours. Resolving our economic troubles will depend much more on reinvesting in education, transportation and other government services, basic science and applied research than on forcing China to yield on its currency.”