Re: yuan dollar
On Aug 14, 2007, at 6:44 PM, bhandari@berkeley.edu wrote:
And why is Congress (across party lines) pressuring Paulson to put pressure on Chinese authorities? I can’t see how the job gain from yuan
appreciation would not be overwhelmed by the losses to the US economy.
You think politics is rational?
In any case, surely you’ve noticed that there’s a lot of steam being
produced about how the Chinese are stealing our jobs and poisoning us
with their toxic products. Manufacturing unions have sway with some
Dems, and Lou Dobbs and the populist right have sway with Reps.
There’s a lot of anti-trade sentiment around, not all of it based on
rigorous empirical analysis. It’s especially virulent when it’s
joined with ancient American tropes about the Yellow Peril. Chinese
immigrants were widely hated even though they built half the
transcontinental railroad. Wasn’t the first American zoning law
directed against Chinese laundries in SF?
Doug