US and China: Currency manipulation: Really? 中美匯率操縱: 真的嗎？

It was said: World peace through world trade. Maybe it is better to say: World peace through world understanding. Given the current hi-tech environment with instant communication, 24-hour news and global village accessibility, it is amazing there are still so much misunderstanding (myth, bias, prejudice, etc) between two major cultures, America and China.
Being an American with Chinese heritage, I hope to serve as a bridge to clear up some of the misunderstandings... and promote fair and equal treatment in the media. I believe we can accomplish it by more critical thinking: Is it really? Can we do better? I forget where I heard this quote: If we cannot let what we don't understand survive, humanity has no future.
I hope humanity can combine our talents together to work for global projects, e.g. to cure cancers, to develop green energy, to search for another earth-like planet out there in the galaxy, etc.

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[thefredsays]

China literally buys us dollars to keep their currency peg to ours. Truth is we both manipulate currency but the US does it far more discreetly and unpredicably.

[fredwon360]

@thefredsays

Yes. Both China and US do it. With QE2, US is not doing it discreetly... rather blatantly. Japan, Korea, others are ready to do it also again as a response. Actually, it is the job of every country's Treasury department to manage its currency carefully. To say a country is a "currency manipulator" is meaningless!

[eshnajizzle]

It would be nice, if you actually provided some evidence of the claim you're making.

What you've done is say that:

1) the US would gain from the renmimbi revaluing, and therefore have a vested interest in faking an undervaluation of it.

2) The US has done it before with Japan

1) & 2) => The US is trying to fake the undervaluation.

This is a conclusion, which can't be made from your argument. It's still a plausible scenario, but it has not been demonstrated.

[fredwon360]

@eshnajizzle

I am no expert on this. 

I just translated an article written by a Taiwan politician/commentator, Ms. Chen. For any serious student on this, you need to do some homework. All the points are searchable on Internet. For example, the Plaza Accord.

[fredwon360]

@eshnajizzle

The latest crazy money-printing exercise announced by US Fed Reserve, known as QE2 (Quantitative Easing 2), is again considered by most countries as an irresponsible act by US. They and many economists consider it as pushing inflation onto the rest of the world, since the US Dollar is the defacto global-currency. Worst, it may drive another bubble whose burst can totally ruin the world economy.

Check out the article “Who pays the bill for the Fed's QE2?” On Guardian.co.uk

[thefredsays]

@fredwon360 yes, but if you look at a forex graph of the Yuan to Dollar exchange; you will see it is flattened out. Obviously the chinese can be called a "currency manipulator". Its just the the Fed intervenes in the market unpredicably and even the reserve chairman just saying something negative or positive sets investor expectations.

On a stronger note- the US bonds china owns lose value if china lets its yuan float, it is like dictating to the chinese that we'll pay you back less.

[QuadrupleRainbow]

What a helpful video. I'm tired of hearing all of the American propaganda, as a citizen, I'm highly subject to it.

[Rationalific]

Excellent video. It hasn't gotten nearly enough views.