Shameful Aid to China

[zeusbheld]

....In July last year it was devalued and allowed to float. It is a controlled float where it can only trade within a narrow band. However you will find that it is gaining strength against the USD.

that in my book is a peg, albeit a soft one.

[dojib854]

dojib854 wrote:

....In July last year it was devalued and allowed to float. It is a controlled float where it can only trade within a narrow band. However you will find that it is gaining strength against the USD.

that in my book is a peg, albeit a soft one.

I rest my case!!!! ZBH you normally show some kind of intelligence. Is the RMB pegged????????????

[zeusbheld]

dojib854 wrote:

....In July last year it was devalued and allowed to float. It is a controlled float where it can only trade within a narrow band. However you will find that it is gaining strength against the USD.

that in my book is a peg, albeit a soft one.

I rest my case!!!! ZBH you normally show some kind of intelligence. Is the RMB pegged????????????

It is a controlled float where it can only trade within a narrow band.

[Loburt]

What you say is true, charisma_man. However, on the international front, China also has an extremely abysmal record of supporting brutal and genocidal regimes, such as the thugs in Burma, and the slaughterers in Darfur.

They are world-class competitors when it comes to shame.

[zeusbheld]

What you say is true, charisma_man. However, on the international front, China also has an extremely abysmal record of supporting brutal and genocidal regimes, such as the thugs in Burma, and the slaughterers in Darfur.

They are world-class competitors when it comes to shame.

Quite right Loburt. The outlook for China's continuing role as a Champion of the international system is therefore a mixed one. And I should highlight what you implied, less mentioned, about the international human rights regime, where China's record has been consistantly negative.

On the one had, feel China has become more compliant with International law as a reslut of its increased participation yeah. All the more extraordinary considering they suggested the need to replace the UN, and questioned the ambit of International law in the mid-1960's.

As I've already mentioned, China acknowledges the universal applicability of generally recognised international law - esp. State Sovereignty, non-interference and pacta sunt servanda (treaties should be obeyed), peaceful dispute resolution and racial equality. In my mind they are moving into a more flexible, confident and mature phase of Multilateral involvement.

On the other hand, its policy of non-interference has a corolary. Like the United States, when international laws get in the way of key objective, i.e. ensure a steady supply of natural recourses to sustain their growth, they will simply expand, interpret or circumvent them. I am a firm believer that thier dealings with Pariah states does undermine U.S efforts to punish those countries who refuse to abide by international laws or treaties.

Nevertheless, China does offer flickers of hope in this area. China used its influence in Pyongyang and,more recently, Darfur, to secure positive outcomes for the international community. Now I'm not defending China, they still have a long way to go, and with respect to pacta sunt servanda, lex is not yet rex within their own society. However, their emergence as a stabilising force and, if unlikely, defence of the world order, is cause to celebrate considering a few decades ago China was hell-bent on destroying it.

short version: they ain't there yet, but they've come a long way, baby.