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Saturday, November 20, 2004

THERE GOES THE UNIPOLAR WORLD

Treasury Secretary John Snow and other U.S. officials have pressed China to sever its currency's direct link to the dollar. U.S. manufacturers contend that practice has undervalued the Chinese currency by as much as 40 percent and given China a substantial advantage against U.S. competitors.

Full article
As can bee seen from the world economies listing below China's economy is already about 60% of America's. So with a serious revaluation both economies would be about equal with China still growing at 8-10% & the US at 4-6% (& the UK at 2.5% & Scotland at 1.5%). Looks like reality has caught up with the Plan for a New American Century. What odds it catches up with us to.

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