Obama letter
Li Dan Kangyi
Wu Di eyes wide open once again read the message signature, Barack Obama.
Yes, Barack Obama, U.S. president. Wu Di, said he was stunned.
the best private schools in Beijing, China, Department of Economics lecturer of young people to do is our passion manuscripts the author, most recently two months, he collected a lot of money and business between China and the U.S. data, want to use These data support the currency war and the Sino-US trade disputes between the two countries is a blow. Immediately, he had this idea: Give Obama wrote to explain his own point of view.
Wu Di in a letter to Obama said, a true nationalist must somehow be an internationalist, as a large country's prosperity and stability is absolutely impossible to build on its major trading partners and creditors over the collapse of the damage.
He also said that in the United States under the guidance of the surplus countries of multilateral currency appreciation, rather than unilateral appreciation of the renminbi to resolve global imbalances is a win-win way, the only way to ensure global steady pace of economic recovery, the next decade in order to ensure free trade and global prosperity.
now, Obama wrote back.
Mr. Wu Di Hello:
Thank you for your letter to me. I hear every day struggling with the crisis of the American people are worried about the sound. Their stories inspired me to work harder to ensure that all Americans can find work to support his family, to support the community.
listed below is my government to help hard-working American people through this difficult period of several measures taken:
1. Create jobs and economic growth
order for us to stand up again,UGG Boots Clearance, my government has taken some important steps. Our economy has resumed growth, and the kind of large-scale unemployment last year, momentum has been clearly reduced. These are the future prospects of a good sign, but I know all this for those who can not find work or risk losing homes of Americans who could not bring any comfort. Therefore, we will spare no effort to accelerate economic recovery and promote economic growth and improve the government's responsibility and transparency.
2. To promote strict Wall Street Reform
too long, too long, Wall Street firms do not charge for their disruptive behavior, lack of transparency in financial transactions, consumers and shareholders were not given enough information to make a decision and initiative, the Government has not the right policy tools to close the business failure of financial institutions, always passively using taxpayer money to rescue them. This is why I went to Wall Street before the crisis, called for financial reform to protect the American people and our economy; which is why I am proud to sign a few decades the most comprehensive financial reform bill, including the United States ever stringent consumer protection bill.
The Wall Street reforms will give hard-working American people - from first time home buyers or first time parents to send their children to college; to law-abiding small businesses, community banks and credit unions; to expect investment growth to shareholders and investors - to a greater sense of security. Through unlawful and fraudulent business practices to punish, these reforms will protect the American people will not unknowingly be unfair overdraft penalty rate increase and the impact will be to protect the students to get loans to study the exact loan information, will ensure that credit providers operate according to the law, not drilling loopholes in the system, and this reform is still the U.S. consumer loan applications being rejected or to increase interest rates in the case to help them free access to their credit rating.
because of these reforms, the American people will no longer be the fault of Wall Street pay for irresponsible speculation. Never to use taxpayer money to rescue the business failed financial institutions. By laying a stronger, more secure, more innovative, more competitive financial system based on our country will have a more stable and prosperous future.
3. Wrongful termination of the credit card company
my government is to help those who are not conclusive in the case of the reason credit was reduced, interest rates were to increase consumers. Last year, I and the Congress passed the This landmark bill into effect in February this year, the credit card business which will ensure a fair degree of transparency and accountability. The bill requires credit card companies to pay the credit card holder a clear timetable and the corresponding interest expense. With retrospective effect of interest rates and credit terms to increase the sudden change in behavior from being the end.
these reforms will significantly help the American people and businesses realize their goals.
4. To help home owners
many Americans face the risk of losing their homes. Mortgage crisis, a serious threat to achieving the American dream, family stability, community and the health of our entire national economy. Although many Americans have been helped, but there are far too many Americans can not get refinancing or loan adjusted accordingly. The crisis not only seriously affected the nationwide housing prices, but also seriously affect the U.S. consumers access to credit to buy cars, pay for college tuition and the ability to operate business.
5. To help the struggling American families
With the economic recovery, we must continue to help those who are unemployed life was untenable because the family. Every day, I will meet with my economic advisers, to ensure that we make every effort to create good jobs, support families and help the American people to realize their American dream.
in the creation of employment, my government to focus on outsourcing industries can not provide job skills training. Newly unemployed workers receive unemployment benefits at the same time, you can also get further education or skills training, learning opportunities, including Pell grants for lower application threshold. In order to encourage U.S. companies to create jobs at home, I was forced to repeal some of the companies to outsource the tax law, will be replaced by the Americans to encourage enterprises to employ incentives.
together, we can help more Americans to find, retain good jobs and enjoy a high quality standard of living.
Although the U.S. economic prosperity will take time, but I have full confidence in the crisis out of the United States more powerful than ever before. Once again, thank you for your letter.
your sincere
Barack Obama
Wu Di's letter to Obama:
Dear Mr. President < / p>
recent conflict between the U.S. currency has dragged the world into the edge of a global trade war. Mainstream on this issue on the international financial media are filled with some political motive election rehash and chauvinism of the uproar. In this matter the future of Sino-US economic dialogue and even the global economy is almost only one voice. In this context, no wonder the Chinese in the United States trade deficit and employment difficulties as the main culprit is the only argument that even rampant. If only one side the dialogue among the voices, then this would be wrong to embark on dialogue rather than confrontation between the direction of communication, such a dialogue, the conclusion is bound to communicate both with devastating results. Right now we are talking about this conclusion is the Sino-US trade war.
Mr. President, People's Bank of China has promised to let the yuan float more freely mechanism. China as a responsible big Congress to assume its responsibility for global imbalances, a gradual appreciation of the renminbi is not suspense. If not, China will face isolation in the post-crisis era, this great country and China's demand is not met. Therefore, we believe that this should be sincere, to be seen.
RMB appreciation is a gradual process that takes time, but time is precisely the mid-term elections, many politicians do not face things, so they have the motivation to find a scapegoat. But the Sino-US relations on the U.S. economy, for many American companies, you will leave the four-year presidential term political legacy have a great impact, can not be easily sacrificed.
fact significant renminbi appreciation is not to lift the U.S. economy is currently facing difficulties. First, regardless of the geometry of RMB exchange rate, if the U.S. does not handle the aging of the low savings rates, and the U.S. dollar in world currency status derived from the manufacturing of neglect and over-reliance on the financial industry, the United States not solve the huge trade imbalances. Yes, Wal-Mart's many products are made in China, but the U.S. trade deficit in terms of the structure is indeed in America. If the way through the oppression of the renminbi appreciation, it is only the hands of China's trade surplus countries forwarded to the hands of other trading partners, the U.S. itself helped little.
second, out of control in the United States did not solve the deficit problem before the United States can not afford long-term weakening of the dollar policy. U.S. standing in world currency status is the federal government and the Greek-style debt crisis the only obstacle between. How can a reserve currency if the dollar loses credibility, how will the federal government to settle the debt. Position as a world currency against the U.S. dollar collapse to short to become the largest ever speculative speculative predators who feast. Many speculative predators is a U.S. citizen, but if you have the nationality of speculative capital, then only one of their country, and that is profit.
Third, the sharp appreciation of the yuan would greatly weaken the U.S. by the credit support requirements. The U.S. economic recovery and job creation one of the biggest problems facing the demand is weak. In the strong yuan before creating any jobs, and many rely on Chinese goods (such as Wal-Mart) jobs will be lost. Balance, may outweigh the benefits.
Fourth, the strong yuan will break the Chinese economy from export-oriented to consumer-driven transformation process and weaken China's demand for U.S. products. At present, China is the main U.S. export growth is the fastest engine, while the U.S. exports to China mainly to meet the needs of the manufacturing capital goods. How can China's manufacturing slump to the U.S. capital goods exports and employment benefit?
Fifth, the yuan to appreciate the threat to the central government established the basis for a harmonious society. Manufacturing recession and a large area of structural unemployment will bring dramatic upheaval in Chinese society. RMB appreciation will help to upgrade the industrial chain, but the most populous country, China needs to solve the labor-intensive manufacturing employment, which is related to social stability, political stability of a big problem,Moncler Vest, which is China's bottom line. Chinese people's determination to defend the bottom line should not be underestimated, compared to the liberation war, currency war a lot of money. As the world's first, second largest economy in the currency wars between China and any trade war would be a war as brutal. This situation is favorable to the United States?
globalization, multilateral dialogue in which if one does not understand, respect and care to the other side of the bottom line, then the truth, vision, wisdom and justice will not necessarily achieve a dominant position, the possibility of win-win lost in friction. A true nationalist must somehow be an internationalist, as a large country's prosperity and stability is absolutely impossible to build on its major trading partners and creditors over the collapse of the damage. When the whole world in the post-crisis era,UGG Boots Sale, driven by survival instincts to the brink of war monetary nationalism, to isolate China will cause great damage, and produce very little results. The times call for America to stand up again, leading global cooperation. In the United States under the guidance of the multilateral currency revaluation surplus countries, rather than unilateral appreciation of the renminbi to resolve global imbalances is a win-win way, the only way to ensure steady progress of global economic recovery, to ensure the next ten years of free trade and global prosperity.
Sincerely yours
Wu Di
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