[lbo-talk] yuan dollar

Doug Henwood dhenwood at panix.com
Tue Aug 14 07:17:05 PDT 2007


On Aug 13, 2007, at 10:11 PM, bhandari at berkeley.edu wrote:


> We do know that so much of US corporate
> profitability has depended not only on operatations abroad but also
> on the
> free ride of dollar depreciation.

A lot of that is euro appreciation. Last I looked, about half of the stock of FDI and MNC profits abroad were in Europe.


> I don't believe that Paulsen gives a
> damn about smaller biz, much less worker electoral ire.

He has to be seen doing something in order to head off Congressional action, like trying to force a renminbi revaluation. I don't think he's serious.

Doug



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