The Mudcat Café TM
Thread #148063   Message #3439928
Posted By: Greg F.
21-Nov-12 - 12:59 PM
Thread Name: BS: Was Abe Really All That Honest?
Subject: RE: BS: Was Abe Really All That Honest?
Ah, but Bobert, U.S. corporations WANT the Chinese to "manipulate" their currency because an under-valued yuan is putting big bucks in their pockets.

Outfits like MalWart have developed supply chains in China that their profits depend on. A rise in the yuan means their costs will increase & profits decrease. Same for GE & all the other outfits that have shifted production to China - means higher costs for them.

These guys - despite the Romneyoid bullshit, will do anything in their power to PREVENT any steps that will lessen the value of the dollar vs. Chinese currency.

More right-wing smoke & mirrors & disinformation.