Americans in recent generations had witnessed such changes many times.



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送交者: mangolasi 于 2005-7-24, 09:43:15:

回答: all this fuss is just because American suddenly discovered 由 skipper3 于 2005-7-24, 01:38:47:

Favoring them or against them: Surpassing Britain, Being surpassing by Japanese manufacturers, Leading the world's technology economy, then having floods of Chinese products and being financed by Chinese government.

No, as far as I read from PK, he is not afraid of China except worrying the raw material (and he is not afraid of paying a market price, just worrying how such an abrupt rise would shock the economy--and he propose to speed the alternative energy research). The reason he is against Chinese government's purchasing US debt is that this behavior is endorsing the current fiscal irresponsibility in US, and financing a housing bubble. On the day that everything needs to return to normality, the punishment of this irresponsibility and bubble would be huge. To a lesser degree (OK, he care Americans much mroe than Chinese, fair enough), he think Chinese government's way of using the trade surplus is perverse: not using it to improve Chinese people's living standard.

"the development of China brings great opportunities to US, if they can capture them"? True, trade would indeed benefit both sides AS A WHOLE--otherwise, trade won't happen. Footnote: inseide the country, there are always winners and losers from the trade. The gain is not pareto. Anyone knowing trade (not distantly) besides the most basic Ricardian model should know this. To make everyone gain, re-distribution is a must. But America (and China) are more or less winner-takes-all society. It resists redistribution very much. Hence the pain feel by the labor from the trade is real, not persepective. They simply point a fingure to a wrong object. PK knows this pretty well and made it clear before. Just not very relevant in this article. PK welcome the unpeg simply because it would stop spoiling the current US government.



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