norman.ho

.... and there is no free lunch.tvb now,tvbnow,bttvb+ H8 f6 k+ N) y% _$ ^
Should the Chinese government get involved in the rescue of the European Financial Crisis?  The answer is yes, we have no choice but to help bailing them out. (whether we like it or not).tvb now,tvbnow,bttvb% y8 M+ i3 y% C$ K$ D/ W5 k
We (the Chinese Government) have survived the last Global Financial Crisis coming out rather unscathed, that was mainly due to our strong fiscal policy (pegging the Chinese Yuan to $US, and we hold a huge amount of US dollars and US bond in our reserve),  and the strong government spending on building the local infrastructures such as airport, freeways, railway lines, port facilities, and a very strong local demand for housing and manufactured goods and so on." {. o7 E/ Q, i' D8 L0 `
However, these internal demands of our own products will and is slowing down.  So what's is going to happen to our manufacturing sector when the global demand  keeps on dwindling?  We will have to cut down on production, reduce the workforce, lower our price even further, hence the wage and condition of the factory workers will deteriorate.
; D6 d! f, m( d  N6 D1 Y/ t% n4 [So, it is to our interest to help bail out the European fianacial crisis.

norman.ho

4 `# }' {# z7 O' X2 Q0 w" Htvb now,tvbnow,bttvbtvb now,tvbnow,bttvb; w1 i% z: H! C' l1 E* W
.... and what goes around comes around.
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Just go back about 15 years, remember the East Asian Financial Crisis in 97, the slaughtering the four Asian Dragons, the drastic devaluation of the Thai, Singapore, Korean and Indonesian currencies, how the IMF dictated the fiscal policy to countries like Korea, Indonesia, Thailand and the Philippine?
3 D9 `+ g9 D0 p# WGeorge Soros was sitting back laughing and reaping off with huge profit.  The Japanese economy has since been slowed down drastically.
8 h) U% F* Z6 a% r3 \+ k* m5.39.217.77:8898And that happened at the precarious time at which HK was being returned to mainland China.  We survived that alright didn't we? We must be thankful to the way the Chinese Government handled the situation.  And the only Asian country that toughed it out was the Malaysian government who vigorously resist the IMF interference.
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What is the IMF doing now?  Nothing, absolutely impotent.  And the media is now referring to the EU region as the Euro Zone,  The words European Union were hardly being uttered anymore.公仔箱論壇4 _6 k- f2 j9 t9 U, ?% I8 T: V" J

6 b. x2 S" I* L  O6 `- f/ Ytvb now,tvbnow,bttvbAnd the US?  They have a bigger problem of their own than the European countries.