|
|
|---|
Thursday, November 5, 2009
“The Americans get the toys, the Chinese get the Treasuries and we get screwed.”
That is a quote from an EU official to Alan Beattie in his November 2nd article in the FT entitled, 'Renminbi at heart of trade imbalances.' The sentiment echoes my observation that the Europeans are turning out to be the big losers in the US-China currency dance.
The old adage that the USD is 'our currency, but your problem' is as relevant as ever, at least to Europe.
Labels: China, Currencies, Euro, international trade
