More crap from the Chinese Currency Coalition

The importers worst nightmare, the Chinese Currency Coalition published a new statement recently. The group charges that Chinese currency policy has led to the loss of more than 9,000 manufacturing jobs. However, to blame China for the loss of these jobs is to grossly over simplify the economic data while ignoring jobs created by Chinese imports. Thousands of Americans are earning a living by selling Chinese goods on eBay. The country's largest employer, Wal Mart, also earns a huge percentage of its profits from Chinese-produced goods. As with any dynamic economy there will be winners and losers. It is wrong to ignore the benefits provided by inexpenisve Chinese imports in an economic analysis of that country's currency policy.

The Two Faces of China

Hongkong and Shanghai Banking Corporation projects that in 2034, bank assets in China will surpass those in the United States. The country has become the world's largest consumer of steel, concrete, cell phones, and other important products. Meanwhile manufacturers around the world are being forced to make massive changes to compete with the "China Price." The New York Times article, The Two Faces of China, presents a nice overview of the current China's current status in the world economy.

China eases yuan controls for travelers

China is tripling the amount of yuan travelers can take out of the country, a move economists say is likely to benefit Hong Kong but will not do much to stem international pressure for a revaluation of the currency. More from CNN.com

"The China Price"

From Business Week:

The China Price,

They are the three scariest words in U.S. industry. Cut your price at least 30% or lose your customers. Nearly every manufacturer is vulnerable -- from furniture to networking gear. The result: A massive shift in economic power is under way.