[lbo-talk] Congress goes after China

uvj at vsnl.com uvj at vsnl.com
Fri Feb 4 04:16:07 PST 2005


Miles Jackson wrote:


> I'm also stuck by how little faith these political hacks have in
> their own ideology: Whatever happened to the heralded efficiencies
> of free markets? How dare they imply that
> unfettered capitalism doesn't lead to the optimal distribution
> of resources!

Renminbi is not freely convertible at market prices. It's value vis-a-vis other currencies is not decided by free market.

Ulhas



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