The Dollar And The Yuan: Turning The Tables

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The Dollar And The Yuan: Turning The Tables

By Bob McTeer on June 4, 2009 | More Posts By Bob McTeer | Author's Website

Treasury secretary Paulson and others urged China to let the Yuan rise without emphasizing the implied relative decline in the dollar.

Treasury secretary Geithner went to China to reassure Chinese officials about the strength of the dollar without emphasizing the implied relative decline in the Yuan.

By questioning the dollar, China has seized the high ground without changing its position.

The U.S. has changed its position while seizing the low ground.

Confucius say: Neither a borrower nor a lender be, especially a borrower.

Confucius also say: I smile!

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