It’s so predictable that it would have been laughable if not for the fact that this isn’t a laughing matter.
I’m referring to Norway’s Nobel Prize Committee awarding well-known jailed Chinese dissident Liu Xiaobo with the 2010 Nobel Peace Prize today.
He joins the Dalai Lama — a long time thorn in China due to Tibet — who won the same prize in 1989. Surprise, surprise, he was picked months after the Tiananmen Square incident in June the same year.
What a co-incidence, no?
OK, there’s been no Tiananmen this year.
But all year long there’s been a growing crescendo led by the United States against the value of China’s yuan.
Too low, too low, says the US and no one has dared to counter that with a USD1.7 trillion deficit shouldn’t people be telling America that the USD is too high, too high?
That is, you devalue if you want to, but the yuan’s value will reflect the fact it’s got 1.3 billion people who are just discovering the joy of full time work and are willing to work for less and save more.
So eat your heart out USA!
But of course not. Americans of whatever political persuasion will only want to eat their cake and still have it.
Hence their call has grown into the frenzied howls of a pack of hunting jackels as the US-influenced World Bank and International Monetary Fund gather for their annual jamboree.
Revalue your yuan, China, revalue your yuan China!
China has been obliging bit by bit, very much reflecting the pace of foot-bound women in the Old China. Which clearly doesn’t suit debt laden countries which have no way to reflate their economies and create jobs other than bully the likes of China into giving up their well-earned share of markets for goods and services thru more expensive currencies and higher costs.
However, the US and all its champions had better remember what happened when it wrestled with Japan in the 1980s to revalue the yen, using exactly the same arguments as they are now using against China.
Don’t in a couple of years’ time start crying that China with its revalued yuan and burgeoning reserves has bought up half the world and more, especially America the Beautiful, from sea to shining sea, K!