Friday, November 26, 2004

The need for a weak dollar

Stephen Roach, the chief economist for Morgan Stanley and one of the voices for sanity with regard to the US economy, sums up the case for a weak dollar in the New York Times:

What's certain is that a lopsided world needs to be put back into balance. The dollar is the world's most widely used currency, but its fall affects more than just foreign-exchange rates. A weakening dollar is an encouraging sign that the world's relative price structure - essentially the value of one economy versus another - is becoming more sensible. If the world can manage the dollar's decline wisely, there is more reason for hope than despair.

It is time to put the screws to China to float their currency.

4 Comments:

Blogger Michael Herdegen said...

Why should we stop China from subsidizing American consumers ?

November 27, 2004 3:09 AM  
Blogger Duck said...

And they're asking "why should we stop Americans from subsidizing our industrial development". Michael, it is called "eating your seed-corn".

December 02, 2004 5:48 PM  
Blogger Scott Edwards said...

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October 31, 2005 3:48 AM  
Blogger Scott Edwards said...

Wow what a cool blog you have here! I am impressed. You really put a lot of time and effort into this. I wish I had your creative writing skills, progressive talent and self discipline to produce a blog like you did. Your blog really does deserve an honest compliment. If you have some time, stop by my site, it deals with stuff like, click here: bux and then feel free to e-mail me with your words of wisdom.

P.S. I'll sure put the word out about your site and I would appreciate any business you may send my way...

Later, Scott ;-)

October 31, 2005 11:49 AM  

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