APEC calls for greater currency flexibility

Pacific Rim finance ministers address exchange rates and global imbalances; work towards reviving world trade talks.

The Asian economies have been holding their monies steady while at the same time they were ignoring the changes in the strength of same monies. This was an unfair trade business, and this is also one of the reasons we have such a deficit in trade matters. The USA has been after China to reestablish the actual rate of currency so as to be fair.

APEC, which says it accounts for about 47 percent of all world trade, believes its 21 economies can influence the Doha round of World Trade Organization talks that collapsed in July over disagreements on subsidies.

Oh really? If they create 46% of the wealth, why are they asking us for money? Hmm? Why is it the USA who always has to bend over so they can suck our monetary teat? [Read the whole article.]

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Category: Economics and Policies.