Since when has China ever been concerned about angry peasants? I suppose if they really cared about what their people think, they'd do something to correct their looming banking meltdown before it results in huge losses for large numbers of their population.
What's Japan's reason for losing huge sums of wealth buying our debt instruments? How about the Caribbean banking centers?, Korea?, OPEC?, Germany?, Taiwan?
They have decided the costs of maintaining the status quo are lower than the transition costs of leaving a dollar based global economy,
You don't think China has designs on establishing the Yuan as a currency of influence in Asia? Their recent conversion to a "basket" of currencies has put that process in motion. The Islamic Development Bank long ago said they wanted to supplant the dollar for oil exchange as early as 2006.
I have seen angry Chinese mobs forcibly remove tax collectors from their markets. They are concerned.
I suppose if they really cared about what their people think, they'd do something to correct their looming banking meltdown before it results in huge losses for large numbers of their population.
Central Planners have an impossible task. That's why I don't trust their judgements of interest rates.
What's Japan's reason for losing huge sums of wealth buying our debt instruments?
Propping up the only healthy part of their economy, the export sector.
How about the Caribbean banking centers?, Korea?, OPEC?, Germany?, Taiwan?
Korea is heading for the door.
You don't think China has designs on establishing the Yuan as a currency of influence in Asia? Their recent conversion to a "basket" of currencies has put that process in motion.
Bout time.
The Islamic Development Bank long ago said they wanted to supplant the dollar for oil exchange as early as 2006.
Right, with the Islamic Gold Dinar.