Zeev's Turnips Patch-No Politics (ZEEV)

[ardent jd]

Bullwinkle...

Excellent article. This China paranoia is ridiculous. A prosperous (and increasingly capitalist) China is in everybody's best interests, including ours.

Regarding the peg, the conventional wisdom is again 180 degrees wrong. No country ever devalued its way to prosperity. To the extent that the Chinese are willing to sell us stuff below "fair value" (whatever that means), it represents a massive transfer of wealth from them to us - not the other way around.