Chinese revalue Yaun - So What?

Want to know what the revaluation of the Chinese Yaun means? I do too.

To my relief, Bilmon explains.

To my regret, I have only read his explanation once, so I haven't yet fully absorbed what he means. He does seem to me to be pointing out what I have said previously about the positions of China and the U.S. in the world economy. The U.S. is still the largest single market in the world, but China is second and coming up fast.

One good thing Osama bin Laden did for the U.S. on 9/11 was to sidetrack the Bush administration from its' clear effort to provoke a confrontation with China. The Bush people and the NeoCons became so besotted with Iraq that they have failed to fight with China. The failure of our government to pick a fight with China has been a net positive for America.

unfortunately, the failure of the government to do what could have been done to make America more competitive in the global markets is a major negative. The ideological total dependence on markets and individual investors to build the economy when the government does no planning and provides no economic infrastructure will in the future be seen as one of that most important flaws in the conservative ideology. So the conservatives are doing nothing positive to improve the American economy. At least they have been distracted by the idiocy in Iraq so they have not committed a similar idiocy of picking fights with China.

I don't think American conservatives and NeoCons are going to be happy with it, but the new slogan for America will soon be "We're number two!" The Bush administration and the conservatives are doing everything they can to make that come true.

That's my message for today. Now go read Bilmon.