Asian Response to Friedman

Steven mailinglist at navari.com
Wed Feb 26 17:20:55 PST 2003


"If China wants to continue to export goods manufactured by low-paid labor in exchange for dollars that the US can print at will, and in the process keeping US inflation unnaturally low even in the face of fiscal irresponsibility, to earn a trade surplus unspendable in the Chinese domestic economy as it must be held as foreign-exchange reserves in dollar-denominated instruments to finance the US trade deficit, then China had better fall in line to unquestioningly support US political hegemony."

http://www.atimes.com/atimes/Global_Economy/EB25Dj01.html



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