[Vnbiz] Ministries participate in fighting inflation

Fri Apr 11 08:03:46 PDT 2008

edit:

4th most populous single economic space; China India, EU, US; 3rd most
populous nation.
On Fri, Apr 11, 2008 at 10:53 AM, Craig Stevenson <cstevenson2000 at gmail.com>
wrote:

> Anh Hoanh:
>
> Do you see Phong as representative of the US government, is that the
> reason for your preoccupation with the US government.  Or rather would it be
> a rather trite rallying point around which you can manipulate imagery to
> strengthen your perspectives in some quarters.                    Just
> wondering?
>
> US government and ITS problems are that the government turned its back on
> the people to be the dumping ground of currency peggers where the media has
> boggled the minds of the citizenry to be oveconsumptive, deluded morons as
> lobbyists have riven the seat of government from the hand of the people and
> placed it in the lap of the money-crazed financiers who expropriate the
> wealth of the people for their own selfish benefit.  Have no fear as my
> generation will take it back.
>
> Next, there is neither an implicit nor explicit VALUE of the dollar.  In a
> world not manipulated by central banks, currencies rise and fall.  Where
> intervention in currency (and capital) markets has been a practice, we reap
> the result which is excessive monetary growth, the reckless development of
> overcapacity in some countries (and most industries within them) which
> deprives other developing nations of their rightful share of value-added FDI
> and productive capability (on purpose I might add), and increasing inflation
> and recessionary (even deflationary) bubbles due to eratic capital flows
> that result from these manipulative, yet purposeful, activities.  Movements
> in Russia, and Venezuela, to bring the commanding heights of the economy
> back under the control of national regimes might herald trends around the
> corner were we not careful in addressing the root causes, not the root
> misconstrued causes, of these problems.
>
> In a balanced financially globalized world, peggers, as originally
> envisioned, would spend thus helping other nations, like Vietnam, to grow.
> Peggers are walking on dangerous ground and I am surprised that this level
> of discourse has not raised more eyebrows (although perhaps some are raised
> now, and I suspect, for all the wrong, cliches/reasons).  When a currency
> goes out it must return for it to mean something.  Some may see mounds of
> cheap plates, plastic bowls, DVD players, and Digital cameras as a benefit
> (ie the US does consume too much, but not for the reasons you see, but
> rather for the development of bridges and roads and skyscrapers in a few
> select developing nations to the detriment of all and a much less fair
> distribution of growth across the world).
>
> In a system that benefits the wealthy, and a few select and privelaged
> developing nations, do not be surprised at the eventual backlash that such
> policies are leading to.
>
> Might the continueed reliance on pegging be the cause of excess capital in
> the US via the purchase of treasuries and other US assets which forced down
> interest rates and pushed excessive housing speculation in the US?
>
> Might such continueed pegging be necessary for a world productive system
> which is predicated upon ever higher levels of consumption for its
> conception of growth?
>
> Might the Chinese and other peggers have actually provided the financing
> for US operations in Iraq via such currency manipulation policies?
>
> Were they against such operations, why would they continue to fund such
> operations, but for that it benefited them, and few others to do so.  But I
> thought that they were principled, that things were changing in this new era
> of globalization, I thought that things were going to be different as weight
> shifts East from West.  All I have to say is be very careful, as the
> American people may wake up to the fact that piles of subsidized things
> might not be worth what was written in the small print.
>
> Without movement away from such manipulative free trade policies I suspect
> the world might be surprised at a US that reindustrializes itself (after all
> the US is the 4th most populous nation and there are plenty of lower skilled
> Americans who could and would be able to work in factories).  Finally, I
> suspect the world underestimates the willingness among Americans to "suffer"
> for the greater and longer term good, despite desire by American elites to
> maintain their privelages over the masses. An opposing argument is that
> domestic consumption is rising in currency pegging nations, and I would say,
> ex out capital investment, ie the continued growth in capacity development,
> and exports, and where does that leave us.  It leaves us at very little
> domestic consumption related to a recklessly disproportionate amount of
> productive capability. Essentially an overly mercantilist adventure which
> may just leave many marooned on a deserted island.
>
> Exasperatedly,
>
> Craig
>
> Craig
>
>  On Fri, Apr 11, 2008 at 9:07 AM, Tran Dinh Hoanh <tdhoanh at gmail.com>
> wrote:
>
> > [ Vietnam Business Forum ]
> >
> >
> > Dear brother Phong & CACC,
> >
> > One minor typo in my previous message that may generate huge confusion.
> > I meant to say: "As far as I am concerned, the US government still don't
> > know what to do with ITS own economic problem."  I implied that "experts"
> > outside Vietnam think that they know Vietnam solutions more than a
> > Vietnamese is a myth that must be dispelled.  If you are in Vietnam and
> > learn economics, chances you are the best problem solvers for Vietnam
> > economic issues.  Vietnam has been among the best performers in Asia and
> > there is no reason not to believe that Vietnam is now the best solution
> > solver in Asia.  It is very natural that only the best performers may come
> > up with the best solutions.  (And here is the leadership truth, when you
> > have the best solution, most people cannot see the sense of your solution,
> > because they are not the best; if other people can see your solution, then
> > your solution may not be the best because you are just like them).  Trust me
> > and trust your government in this crisis.  I want you guys and gals in
> > Vietnam to be confident about our ability to be the best always.  And
> > I promise you that when this entire dollar crisis is over, the
> > world will see that the Vietnamese are the best performer in good times or
> > bad times.
> >
> > Anyway, Brother Phong, I hope you do have a comprehensive solution for
> > Vietnam problems.  Please, I'm all ears.
> >
> > Have a good day!
> >
> > Hoanh
> > ________________
> > On Fri, Apr 11, 2008 at 8:09 AM, Tran Dinh Hoanh <tdhoanh at gmail.com>
> > wrote:
> >
> > > Dear brother Phong,
> > >
> > > I have heard you whine and complain all the time and not even one word
> > > on how to solve the problem.  It would be beneficial for all if you have one
> > > solution laid out on the table before earning the privilege to complain
> > > about the entire Vietname government.   As far as I am concerned the US
> > > governmentt still don't know what to do with this economic problems now ,
> > > not mentioning its Department of Commerce. Please help us see.
> > >
> > > Have a great day!
> > >
> > > Hoanh
> > >
> > > On Thu, Apr 10, 2008 at 7:57 PM, <Hong-Phong_Pho at ita.doc.gov> wrote:
> > >
> > > > [ Vietnam Business Forum ]
> > > >
> > > >
> > > >
> > > > This house, then mud hut with tin roof, narrow escaped the regional
> > > > conflagration that badly damaged the neighborhood then known as the Asian
> > > > Financial Crisis.  Even before the smokes cleared, the more conservative
> > > > among the firemen went on a victory lap, congratulating themselves about how
> > > > well Vietnam fared.  The reality was that, since Vietnam was so unintegrated
> > > > at that time that the financial contagion could not spread; there was no
> > > > fuel for the fire.  That episode set back progress and reforms for at least
> > > > a couple of years.  While the neighbors rebuilt and put in sprinklers,
> > > > Vietnam was still trying to delay equitization of the banking sector, and
> > > > lost valuable time for putting in place needed regulations for a healthy
> > > > financial sector, as if the rope and bucket approach to financial
> > > > fire-fighting is still acceptable.  (Former PM V V Kiet, in his report on 2
> > > > decades of Doi Moi, outlined this back-and-forth struggles between those in
> > > > Party who advocated stability and protection of the Party and those who
> > > > would push the limit for more progressive changes.)  It took a few years for
> > > > the progressive to gather forces and move forward again.
> > > > Now, more than a decade latter, we have a decent wooden house that
> > > > we can be justifiably proud of compared to the mud hut, and a couple of
> > > > garden hoses for fire protection.  The time to plan for the fire is before
> > > > it stated.  With an under equipped fire department, Vietnam can't afford to
> > > > be self-satisfied and shouldn't be cheered on indiscriminently.  Moving back
> > > > to mud huts isn't a very good options.  Building fire-safe brick houses will
> > > > require stronger foundations, a proper municipal water system with enough
> > > > pressures, large enough roads for fire trucks, fire trucks and fire fighter
> > > > who know how to use foam to suppress electrical fires, and a thousand other
> > > > things.  All of these take careful, plodding, planning, much resources,
> > > > vision and leadership, a different kind of leadership than arriving at the
> > > > fireline with a bullhorn to call on the entire neighborhood to line up with
> > > > the ropes and buckets.
> > > > Cheers,  HPP
> > > >
> > > > --
> > > > Tran Dinh Hoanh, Esq., LLB, JD
> > > > Washington DC
> > > >
> > >
> >
> >
> > --
> > Tran Dinh Hoanh, Esq., LLB, JD
> > Washington DC
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