The World needs to be careful not to get drawn into a trade war due to China's manipulation of its trade policies, as it seeks to "win" above all else for itself rather than sticking to the fundamentals of a Western Style "Win-Win" relationship with the rest of the world. Personally, I am gravely concerned with what's going on and see more storm clouds on the horizon and continued escalated conflict from what began as a trade war.
An interesting article in Reuters to read was entitled; "IMF Warns Against Currency War," by Steven C. Johnson - posted on their website on October 6, 2010. Now then, I recommend you go read this article online and then come back to my discussion here, and yes, the title of the Reuters' article kind of says it all. But, still, you see, I am perplexed on what took the IMF leadership so long to make this statement
You know I am indeed a little bothered by the IMF's PR hype. I mean obviously this is going to be an issue, it's been an issue for the last 5-years even before the global economic crash. Last month Brazil's leader stated this in the world media. This year alone, Ireland, Japan, China, USA, South Korea, Mexico, Venezuela, Argentina, Ecuador, Chile, Bolivia, and probably half of the EU nation's leaders have said this.
Anyone who reads the WSJ, Bloomberg, Forbes, FT, Reuters, knows this. It's just amazing that the IMF waits until it's totally PC and in vogue to make their statement - It's like no-kidding - where have you guys been? With forecasting, foresight, and Futurist predictions like this, I wonder who on Earth is running the IMF anyway - Dah! I mean seriously my Dear Sirs.
Now then, there was another article on this topic on September 5, 2010 in the Wall Street Journal entitled; "IMF Talks on Currency Restraints," by Bob Davis - essentially a similar article to that in Reuters, so apparently, what's happening in that the IMF is running press-releases to build brand as some sort of authority - but is it really?
The International Monetary Fund sounds so very impressive but it is small potatoes compared to most first world central banks and it's assistance in only "part" of the Greece bailout was way more than it could handle. So here is a group that is talking the big talk, but really cannot get out of its own way.
They say that those who can't teach, but in the banking sector, those who can't handle it with the big boys, go and get a cushy job in at the IMF. At least this is my current thinking on the matter or at least I am beginning to lean in that direction and line of thinking. Please consider all this.
Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic. http://www.WorldThinkTank.net - Have an important subject to discuss, contact Lance Winslow.
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