On 24 May 2005 23:45:29 -0700, in alt.home.repair Paslode
Nail Gun - Being Made in China ! - OT wrote:

Here's another article explaining why China's currency isn't
undervalued, by Prof. Michael Connolly, U Maimi Chair of Economics:

Even if it is undervalued, so what? Undervaluing their currency makes
their exports cheaper to the U.S. vis-a-vis the US$. Effectively,
undervaluation is a way to make their labor subsidize our life style.

The only problems a

1) Loss of U.S. jobs
2) We become a debtor nation to China and thus must "kow-tow" to their
whims. We thus become their economic hostages.

We are trading luxury, ease and consumerism for freedom. We've never
had a problem with that before (at least not in the last 75 years).

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