Monday, November 08, 2004

Oh, great! 

Atrios points to this article in the Financial Times Dollar expected to fall amid China's rumoured selling -- and wouldn't this be just ducky for us all. The Canadian dollar rose again against the US dollar last week; looks like it will go up further. While this is good news for Canadian snow birds, its not so great for our exporters. And if American interest rates go up, so will ours.
I wonder if this relates to the intense and unexpected criticism of the war in Iraq from former vice-premier and former longtime Chinese foreign minister Qian Qichen. In an article from China Daily published just before the election, Qichen wrote that America's anti-terror campaign "has already gone beyond the scope of self-defence. And these latest moves, when seen with the background of the Gulf War and the Kosovo War, have made it obvious that the United States has not changed its Cold War mentality and that the country is still accustomed to applying military means to deal with various threats, visible or invisible. The philosophy of the "Bush Doctrine" is in essence force. It advocates the United States should rule over the whole world with overwhelming force, military force in particular." With the war in Iraq "Washington has opened a Pandora's box, intensifying various intermingled conflicts, such as ethnic and religious ones . . the current US predicament in Iraq serves as another example that when a country's superiority psychology inflates beyond its real capability, a lot of trouble can be caused. But the troubles and disasters the United States has met do not stem from threats by others, but from its own cocksureness and arrogance. The 21st century is not the "American Century." That does not mean that the United States does not want the dream. Rather, it is incapable of realizing the goal. In this century, all big powers should compete in a peaceful way, instead of military means."
Though the Chinese government distanced itself somewhat from these remarks, things got a little tense with China and with Taiwan during Powell's late October visit.
And, of course, once again there seemd to be complicated relationships between the Bush family and various Asian businespeople, as shown in this article from last year.

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