He writes:
"There is a socialist tinge to Bush's new economic plans, with government taking such an active role in directing the economy. One of Bush's emerging friends is in fact the new Chinese Prime Minister Wen Jiabao. China's economy is officially called a 'Socialist Market System.' If it weren't for China's goods, most if not all of America's malls would close. But as in Nixon's days, foreigners are finding less and less to buy from America.
"America and China are forging friendship much faster than most U.S. media recognize. With the help of 1999 Nobelist in economics, Robert Mundell, a plan is shaping up for China to be the first to try out a new monetary system called a 'basket of currencies.' Currently, China's yuan is pegged to the U.S. dollar. Under the 'basket' idea, with the help of American expert teams the yuan will soon be linked to all the world's major currencies. As with Nixon's monetary move, the idea is to benefit the U.S. economy -- and, for Bush, to win re-election. Could a universal monetary currency be down the road? As the Chinese say, 'Every journey begins with a single step.' "
Full at: http://news.pacificnews.org/news/ view_article.html?article_id=02efaeb22d76082ab2d932b3dffb845e
Jon Johanning // jjohanning at igc.org __________________________________ A gentleman haranguing on the perfection of our law, and that it was equally open to the poor and the rich, was answered by another, 'So is the London Tavern.' -- "Tom Paine's Jests..." (1794); also attr. to John Horne Tooke (1736-1812) by Hazlitt