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This is funny. And sad. Nobel Prize winners back booming China headlines the official newsorgan of the Communist Chinese. Right on the heels of the Fortune 500 jet setting billionaires little festival of greed, Wen invites a crew of eager prostitutes to be paid to spout praise and being good little guests, they deliver in full.
An award-winning US economist yesterday said China should ignore outside pressure and keep the yuan exchange rate stable. 1999 Nobel Laureate for Economics Robert A. Mundell kept up his consistent "no change" call at a special three-day forum--said to be Asia's biggest-in Beijing yesterday.Wen is very pleased, of course. 9 out of 10 economists say, China should stay the course!
He was among seven other economic Nobel prize winners and five distinguished scholars who gathered to offer advice and comment on China's economic relationship with the global community. Each gave their view of China's place in the world's economy.
If the Chinese currency were revalued, overseas direct investment will decrease and lead to more unemployment, affecting even the rest of East Asia, he said.
Premier Wen Jiabao told the laureates China attaches importance to listening to global advice and opinion. Vowing to step up efforts to solve problems facing the nation, he added: "We are confident and capable of achieving the goals set for economic and social development."Yup. Cheap labor=big profits for the billionaires. They, in turn, fund the jobs of the "economists" who then parrot whatever the rich capitalists need to broadcast. This is why these people are so cluess. And heartless, as this despicable economist sneers:
The general consensus among the economists was the booming Chinese economy is beneficial to the world-including the United States.
Robert W. Fogel, who won the Nobel Prize for Economics in 1993, told China Daily that there were two reasons why the global community gained from China's development.
"First, China is producing more and more goods that can be of a very high quality and at a much lower price," Fogel said. "Secondly, China will need more goods and services from other places such as Europe and the United States," he said.
Vernon L. Smith, the 2002 winner, said the huge and growing trade between America and China greatly benefits both countries.This Vernon character should have gotten the Nobel Snidely Whiplash Award. This creature can't tell us what new wonderful, technological jobs await us. Rickshaw operators? Beggars at city gates? The mind boggles.
"By outsourcing to foreign countries, US businesses save money that is available to invest in new technologies, new jobs and remain competitive in world markets. We should let it happen," Smith said. However, "many American citizens will not now agree with that."
"Their job losses are very visible while jobs created by new technology are not yet visible. When American businesses outsource goods and services to China, they save money," Smith said.
How did inhuman (Nazi style) people win prestigious awards like the Nobel Prize for Economics? What planet does this happen on? This is most incredible not to mention...traitorous. Many economic "theorists" are encouraged to not look at their host nation as a place to protect or defend. Like their rich masters, they view us, the average Americans, as impediments to their dreams of disconnected freedom, free from paying taxes or dying defending one's homeland.
Citing American education as an example, Fogel said it had become an export industry, pointing out that at least two-thirds of his students are from abroad.My taxes pay for the educational system including the massive college system. We are "exporting" by bringing in foreign students, giving them scholarships, educating them and then letting them go home to...compete with us ruthlessly. Great. Exports like this we need like a hole in the head! When foreign students outnumber Americans, this is a sign that something is very wrong indeed. I suppose the professors with tenure think this is jim dandy. But I am neither an economist nor have tenure. So I can smell the skunk here.
Even as a trade war from hell is heating up and America blunders yet again into dangerous waters, water over our heads, our own "leaders" betray us, over and over again, eager to please the wrong people, lying to us, lying to themselves, when the economic history of the Decline and Fall of America is written, these people will get a whole chapter for themselves: "The Houseboys of the Noble Cabana".