China warns of double dip recession

In the news in Australia this morning. As you know we are heavily linked to China with commodities and the like.

Chinese Premier Wen Jiabao warns of double-dip

China has been under increasing pressure to allow its currency, the renminbi, to appreciate, removing the effective peg to the US dollar that has been in place for more than a year since the financial crisis gripped the world.

Two days ago, US President Barack Obama ratcheted up his rhetoric, urging China to appreciate its currency, saying a "market-oriented'' exchange rate was "an essential contribution to that global rebalancing effort''.

China will not mess their currency or their position for anyone. They have America and us by the b@#ls at the moment.

reply to post by dingleberry77


You got 6% growth between Oct. and Dec. 2009 in the US.

[edit on 14-3-2010 by john124]

well of course there will be a double dip recession. who ever thinks this recession will recover is going the wrong way. plus the whole world is connected to china so this will have a domino effect.