Why the dollar will stay strong for now
By MoneyWeek Editor John Stepek Feb 23, 2009
For years, one of the driving forces of the global boom has been China’s willingness to lend Americans the money they needed to buy goods made in China.
The global slump promises to push this relationship to breaking point. Just as US consumers have decided to stop buying – well, anything really – the US needs China’s backing more than ever.
In her trip to China, US Secretary of State Hillary Clinton, tried to stress that the US and China are in this together. “We will truly rise or fall together.” It’s an interesting way to look at it.
But from where I’m standing, the Chinese probably have the upper hand… Continue reading ‘Why the dollar will stay strong for now’

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