Skip to comments.Currency, conspiracy theories and foreign policy-making
Posted on 04/30/2010 7:12:05 AM PDT by TigerLikesRooster
Currency, conspiracy theories and foreign policy-making
By Henry Hoyle
Friday, April 16 12:36 am EST
Black helicopters, U.N. conspiracies and shadowy cabals of all-powerful financiers - this is the stuff that fixates in the feverish imagination of a certain segment of the American populace.
The real world consequences of this peculiar vein of thought was on display this past week as Chinas plans for RMB revaluation were reportedly delayed by a storm of unfavorable public opinion, according to the New York Times. One Internet rumor that went viral last weekend held that the plan was an American ruse to to create an economic bubble and financial crisis in China. Just as the Ministry of Commerce came around to the consensus view that some strengthening of the RMB would be in Chinas interest, the government was tripped up by the deep suspicion of the West it has inculcated in its populace.
(Excerpt) Read more at chinatrade.foreignpolicyblogs.com ...
I guess they still remember the Opium wars and the opium triangle.
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