telegraph.co.uk — China has resorted to stealth intervention in the currency markets to amass US dollars, using indirect means to hold down the yuan and ease the pain for its struggling exporters as the global slowdown engulfs the economy.
Aug 26, 2008 View in Crawl 4
Closed AccountAug 26, 2008
"During the first half of this year, about 67,000 small and medium-sized companies went bankrupt throughout China, leaving more than 20m people out of work," said the National Development and Reform Commission. "Bankruptcies of textile and spinning companies have numbered more than 10,000. Two thirds are on the brink of bankruptcy."Holy s**t! That's a story in itself.
kent4jmjAug 26, 2008
I think History will record that the most vicious, cunning cut throat battle was fought without the knowledge of 99% of mankind.
alwaysawakeSep 2, 2008
Tne European Central Bank is propping up the Fed Note Dollar, so the Euro is not too "high" for good export/import business now. As soon as War III "officially" begins, none of that will matter anymore, and they can let the dollar, and the US economy totally collapses, with Americans taxpayers still owing them $53 Trillion or more, plus interest..