United States Control New Three Elements Instead of Anxiety
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Clearly, even in dollar paradox period, the U.S. dollar still hold the initiative. According to the new economy argument, the United States control of the large number of international capital. This capital control, the most critical time, will lead to the main flow of capital protection. After the crisis, much of the money back to the U.S., dollar rise not fall.
On the other hand, the U.S. dollar relative to the control paradox is also the world capital flows of power. In fact, most of the power of world trade is controlled by the United States; the world's leading intellectual property is still occupied with the United States capital; whether Germany and Japan to overtake the U.S. in number, but the U.S. still enjoy the high-tech country with the largest dividend.
Similarly, according to the new economy, saying that the United States or to continue to hold information, credit, knowledge of the three elements of the new initiative, although the three elements of the old land, labor and capital by the U.S. transnational capital, the transfer of some multinational companies, accounting for a relatively longer absolute advantage, but apparently the first three control the lifeblood of the latter three.
U.S. control of the three elements of the new advantages that a new paradox is that because the United States greatly increased the wealth effect, making the capital gains over the production profit, anti-American exports to fall. Manifested, manufacturing transfer, employment will become a most important issue in America today, the country's overall technological level of the inevitable decline in competitiveness is lower. In this way, the government social security, infrastructure, welfare spending to too many paradoxes against the U.S. dollar appears due to anxiety.
To this end, the United States made after the crisis to restore the manufacturing sector, reduce the government deficit, to restore export, but the measures have been implemented continue, will inevitably reduce the wealth of premium capacity of the United States, to send information to Marx's reduced ability to increase the value of capital, then this is obviously digging the United States make the rich poor, may not be feasible to reverse the paradox of desire is understandable, but the law of paradox of man's will to change.
The United States three strategies "encirclement and suppression" of RMB
The face of adversity dollar temporarily, that is the reverse paradox, world opinion seems to lean to one side, obviously this is not science, do not see the paradox in the periodicity, deep-seated contradictions.
Needless to say, the United States out of the economic and financial crisis as long as the shadow of appreciation of the RMB will continue to get that thing. Crisis, China's proactive fiscal and monetary policy, excess capacity, import growth exceeded export is too large. This leaves the U.S. made a big one.
However, through the crisis, the Wall Street comeback, attributed the crisis to the imbalance of the renminbi, which is the voice of Wall Street's heart. Clearly Wall Street is a reality, but it is unilateral. Wall Street is not so in 2010 a slight recovery in the U.S. economy, the U.S. government also have added to the yuan's "encirclement and suppression" camp.
Before the crisis, according to free trade, free competition, the United States through Wal-Mart model in China, eating and drinking for a pass. Wal-Mart model is that the Chinese products openly to bargain to the extent of the world's most expensive, almost no profit for Chinese companies can earn. Wal-Mart's slogan is, for Americans to buy the cheapest things in the world. The problem is, "Made in China" required energy, minerals, raw materials, the original device, complete sets of equipment and other capital equipment are the highest price to buy, into the high-priced, out of it is cheap. This is the first stroke of the United States against China.
The second measure is in crisis, the Federal Reserve to implement the so-called quantitative easing policy, drastic devaluation of the dollar, so China's holdings of U.S. dollar assets are depreciated, and in the economic stimulus plan, the Chinese finance, invest a huge amount of money, pull most of the demand, not excess, is the external demand, the United States is the biggest beneficiary.
The third measure is just the U.S. economy showed signs of recovery, they first targeted low-carbon economy, and then aim to restore its manufacturing industry, in achieving these two goals in the process are trying to trade protectionism, directed apparently aimed at RMB, in order to force the exchange rate appreciation, let further depreciation of U.S. dollar assets. |
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By :
Jessie Stone
Submitted
2010-10-26 10:39:34 |
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