Re: The Long March From Yenan to Barclays
On Jul 25, 2007, at 4:21 PM, bhandari@berkeley.edu wrote:
If reserve accumulation is an insurance fund, at some point it
should be large enough for that purpose; then why not command real US output
rather than US financial assets
Like I said, with a 10% growth rate and investment at 40% of GDP,
China has all the real output it needs, and it ain’t buying much from
the USA.
They also accumulate dollars to keep their currency from appreciating.