The G20 meeting in South Korea is now history without much being achieved. The brewing currency battle between China and the United States is still simmering. China has mad stacks of US Treasury debt and fears America will inflate its way out the hole by weakening the greenback further. The US, on the other hand, says China is keeping its currency artificially undervalued to protect its exports.
Check out NMA TVs' US-Sino Currency Rap Battle, featuring Chinese president Hu Jintao and American president Barack Obama.
Frenemies...a new word! An interesting way to present the conflicts brewing in global markets. If the Chinese want the Yuan to replace the $ I would just say be careful what you wish for.ReplyDelete