Key How To

Re: [spiers] Key How To

Pete,

I am not sure why this woould appall me, it is exactly how it works, and is
exhibit A as to why
US govt policy is so backwards. China wants to get rich like Japan, so they are
doing it the
exact same way. That NYT headline could be straight out of 1975, and read :
"Japan's
automakers also face rising wages at the same time the country's currency is
gradually
appreciating, making Japanese exports more expensive abroad. " The Japanese
goods cost
us, the more we bought. I am delighted both aspects are true... a wealthy China
is all the
better trading partner for a USA. I just regret the communists are fielding a
better team than
USA in the competition for free trade world wide.

JOhn
On Wed, 18 Oct 2006 10:11:43 -0400, "Pete Holt" wrote :

>
> Hi John,
> I thought the following quote from an article in the NY Times concerning
Chinese auto
manufacturers( http://www.nytimes.com/2006/10/18/automobiles/
18chinacars.html?pagewanted=1&_r=1&th&emc=th ) would appall you suitably:
> China's automakers also face rising wages at the same time the country's
currency is
gradually appreciating, making Chinese exports more expensive abroad.
>
> "It is a message for us," said Jiang Lei, the executive vice chairman of the
China Association
of Automobile Manufacturers, a government agency that guides the industry. "We
cannot rely
on cost alone. We have to improve our technology and management level."
>
> Pete Holt

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