Quote from limitdown:
additional comments from the interview:
... allowing other countries to peg their currency to the US Dollar is subsidizing them and their growth (to the exclusion of our own)
... basically we should get rid of the ability to peg one's currency to the US Dollar
---- those are such profound comments....
in case you have or have not discussed this in depth topic in B School, its no short conversation because that statement lies at the root cause of the American depression and disillusionment with so called free or fair trade with other countries...
another spin on that statement is how the US has allowed itself to influence world affairs through trade instead of war, which is how other nations in history have done the same...
by allowing other countries to peg their currencies to the US Dollar and flood our markets with their products, it has allowed them to develop and establish an infrastructure in their countries (both employment, product creation, service sectors and jobs creation) to the exclusion of those activities occurring in the US.
Japan - 30+ years of heavy automobile exports, primarily to the US
Korea - 25+ years of heavy industry and automobile exports, primarily to the international shipping industries and the US auto markets
China - 20+ years of heavy products creation and export primarily to the Walmart chains in the US
other examples exists too
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where are the other B School grads willing to chime in on this thread (with worthwhile comments instead of mockery and off topic nonsense)
