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Oh come on. You can't argue that having a currency of your own is protectionism. Protectionism is quotas, tariffs, subsidies for domestic suppliers or discriminatory regulations for foreign suppliers, and so on.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Wed Dec 14th, 2011 at 10:45:04 AM EST
[ Parent ]
Take a look at China's currency policy and tell me again that currency policy does not create a protected market.

The Chinese case is an extreme one, because they target a surplus rather than balanced foreign accounts. But the basic mechanics are not so different at all.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 14th, 2011 at 11:23:24 AM EST
[ Parent ]
The Chinese have a fixed currency, the opposite of a floating currency. So I don't see how that makes a floating currency protectionism. Rather the opposite.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Wed Dec 14th, 2011 at 11:26:38 AM EST
[ Parent ]

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