tag:blogger.com,1999:blog-4528146969570948529.post7718647635298356937..comments2024-03-21T22:51:03.977-04:00Comments on Models & Agents: All roads lead to the renminbiChevellehttp://www.blogger.com/profile/10769905202655777736noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-4528146969570948529.post-34726850456669810792017-10-16T20:35:46.625-04:002017-10-16T20:35:46.625-04:00شركة مكافحة فئران بالباحة
شركة مكافحة حشرات بعنيزة...<a href="https://excellent-house.com/company-for-the-control-of-mice-in-the-courtyard/" rel="nofollow">شركة مكافحة فئران بالباحة</a><br /><a href="https://excellent-house.com/insect-control-company/" rel="nofollow">شركة مكافحة حشرات بعنيزة</a><br /><a href="https://excellent-house.com/an-insect-control-company-in-al-baha/" rel="nofollow">شركة مكافحة حشرات بالباحة</a><br /><a href="https://excellent-house.com/company-of-the-detection-of-water-leaks-in-eneiza/" rel="nofollow">شركة كشف تسربات المياه بعنيزة</a><br /><a href="https://excellent-house.com/insulation-of-tanks-in-the-courtyard/" rel="nofollow">شركة عزل خزانات بالباحة</a><br /><a href="https://excellent-house.com/cleaning-company-in-al-baha/" rel="nofollow">شركة تنظيف بالباحة</a><br /><a href="https://excellent-house.com/detection-of-water-leaks-in-albaha/" rel="nofollow">شركة كشف تسربات المياه بالباحة</a><br /><a href="https://excellent-house.com/sewage-in-aneza/" rel="nofollow">شركة تسليك مجارى بعنيزة</a><br /><a href="https://excellent-house.com/sewage-in-baha/" rel="nofollow">شركة تسليك مجارى بالباحة</a><br /><a href="https://excellent-house.com/used-furniture-but-in-albaha/" rel="nofollow">شركة بيع و شراء اثاث مستعمل بالباحة</a>سيو بارتنرزhttps://www.blogger.com/profile/11579326574032081060noreply@blogger.comtag:blogger.com,1999:blog-4528146969570948529.post-55509661441420023482011-11-04T16:38:32.202-04:002011-11-04T16:38:32.202-04:00But it would appear they are just not interested i...But it would appear they are just not interested in efficiency.Most just got the Cliff Notes, but every now and then you run across one who read everything cover to cover and became expert.xl pharmacyhttp://www.bestpharmacy.org/xlpharmacy.htmlnoreply@blogger.comtag:blogger.com,1999:blog-4528146969570948529.post-70271028168714377642010-02-13T16:40:03.466-05:002010-02-13T16:40:03.466-05:00brilliant blog! I also love to write about economi...brilliant blog! I also love to write about economics, please visit my blog www.windowsillseat.blogspot.com and follow me :)Entertaining Economicshttps://www.blogger.com/profile/02595607937856856915noreply@blogger.comtag:blogger.com,1999:blog-4528146969570948529.post-83287259980031082122010-02-10T11:33:06.256-05:002010-02-10T11:33:06.256-05:00Want to speculate as to why? Is it just the self-...Want to speculate as to why? Is it just the self-interest of the elite? Or, could it be that for 60 years having not read more than one little red book they don't have the background to understand? The difficulty with that last argument is that in our western culture we are controled by an economic elite who went to charm schools where they had access to all the good books. Most just got the Cliff Notes, but every now and then you run across one who read everything cover to cover and became expert on the litertaure of some arcane subject, say perhaps, The Great Depression. And our policy doesn't always look so very much better. Does it? One would hope those two apparent opposites would factor out. It's more likely it creates just another area of misunderstanding. A binary resonant feedback loop which amplifies other misunderstandings.<br /><br />And so there you have it. Being fixated on the RMB _IS_ a mistake. There is no assurance that floating rates would do any of what you suggest. More importantly, it's not just the currency. There are other even more difficult distortions. <br /><br />My favorite is property rights. Consider how property rights developed in our western culture. Not until the coming of agriculture made it necessary for the planter to maintain title to a crop until harvest were there any socially acknowledged rights at all. Primitive societies have no formal rights to this day. The industrial revolution was responsible for expanding those rights to "intellectual property". It became necessary for the developer of a technology to be given title to that development until costs could be recovered. Now compare that development to an eastern culture where labor was always abundant and technological or industrial development not necessary. And remember that China is quite able to feed herself even today using a labor intensive agricultural process perfected during the Ming dynasty. Productivity can be measured in man hours, as we do, and it can be measured in tonnes per hectare. Which is more efficient? See what I mean about efficiency?<br /><br />Now, see where this is going? The west would like to import the benefits of abundant labor. But the west would like to, and needs to, exchange technological development for that benefit. How can that exchange be made with a buyer who has no cultural experience with protecting that property? In my mind that is a far bigger and more intransigent problem than floating rates. Having to recover one's entire development cost on the first unit sold is prohibitative to concluding any transaction. A fractional difference in exchange rates is not. MarcoPolohttps://www.blogger.com/profile/03352448231722876114noreply@blogger.comtag:blogger.com,1999:blog-4528146969570948529.post-65827789919265411212010-02-10T11:31:56.442-05:002010-02-10T11:31:56.442-05:00"A flexible renminbi would help reduce Chian&..."A flexible renminbi would help reduce Chian's reliance on net exports..." <br /><br />Why do you think so? Floating yen dosent make Japan less export dependent. <br /><br /> "..a flexible renminbi gives policymakers some room to maneuver in their efforts to control investment growth. "<br /><br />Investment growth? They already have that flexibility. It would allow them control of monetary policy, yes. No mean thing and liberalizing interest rates should yield better investment efficency. But it would appear they are just not interested in efficiency. And it might be they are right not to worry about that. In a country with a population of 1300 million and all the capital you can conjure up at the run of a press (like in other places), it may be you don't have to be too efficient. What are the limits? More below.<br /><br />".. a stronger renminbi would help “transfer” wealth away from corporates and towards households, facilitating the rebalancing of growth towards domestic consumption."<br /><br />What may seem desireable to you and to me may be of no interest to them. I don't know a lot about China. I did a little business there. I must admit I don't understand either. From my perspective the last thing China wants, the last thing, is to transfer wealth from the corporate (SOE) sector to the household sector. I don't know why. I assume Chinese govt. is deep captured by SOE's in much the same way ours is. But it's clear to me that is China's greatest fear and will be resisted to the last. It's clear to me too that a floating RMB is resisted for precisely that reason. So, it's not going to happen. They've dug themselves in deep on that and won't lose face by changing their minds.MarcoPolohttps://www.blogger.com/profile/03352448231722876114noreply@blogger.comtag:blogger.com,1999:blog-4528146969570948529.post-79279981755663528272010-02-09T18:47:05.845-05:002010-02-09T18:47:05.845-05:00What no one ever seems to talk about is that China...What no one ever seems to talk about is that China is paying about twice as much for its foreign reserve build up than those reserves are worth. The annual loss is about one-half of their so-called GDP growth. They are paying $10 for every $5 they put into their coffers. I say, bad for them, good for us.Normannoreply@blogger.com