Re: [A-List] US Imperialism: Scapegoating China

["Gary Santos" <evs@xxxxxxxxxxxx>]

> The solution is rather simple.  Pass a US law to rewuire US companies
> which manufacture in China to adopt a minimum wage policy matching the
> purchasing power parity equivalent of US minimum wage.
>
> Jobs that pay 50 cents an hour are not going to come back to the US, nor
> would the US want them back.  The US labor unions are barking up the
> wrong tree.
> >
> > The latest economic battle between the two countries concerns the U.S.
> > federal government's displeasure with China's currency, the Yuan or
> > Renminbi, being pegged to the U.S. dollar. Treasury Secretary John
Snow's
> > visit to Beijing earlier this month boosted the hope of many furious at
the
> > Chinese for what they see as an artificially cheap Yuan. Snow's subtle
> > admonitions that the Chinese float, or at the least widen the band
within
> > which their currency can float, went largely unheeded.
-----------------------------------------
Henry,

But, the yuan is indeed undervalued and is held there by policy. The
ramifications of an undervalued yuan, before reaching America, first affect
China's near by neighbors in East Asia. Jobs are lost to China and a much
lower standard of living resluts as currency exchange rates compete with one
another.

No one has the moral high ground. Jobs at $0.50 an hour can be argued as
exploitative. One can even conjure up some rhetorics: China should raise
their minimum wage. The families that control China are merely enriching
themselves, exploiting their working class. Income and wealth disparity in
China is comparable and may even exceed that of other countries.

Gary