Posted on 02/24/2005 3:04:18 PM PST by Bald Eagle777
PARIS - Europe has angered the United States with talk of canceling its arms embargo against China - but governments and companies on the continent have for years delivered weapons and other equipment to Beijing and its rapidly modernizing People's Liberation Army. In Germany, a subsidiary of DaimlerChrysler AG says it is supplying diesel engines for Chinese submarines. And there's been a surge in European export licenses to China for goods - about $550 million in 2003 alone - that are designed for war or could have military and civilian applications, a gauge of Europe's growing willingness to profit from China's military progress. If Europe's nearly 16-year-old embargo is lifted, the United States fears that cutting-edge technology, weapons and materiel from the continent's large military industry could hone the effectiveness of Russian armaments that China has been buying massively, increasing its potential to threaten U.S.-aligned Taiwan and Japan. Exactly what the Chinese PLA, the world's largest army by troop numbers, may be getting from Europe is difficult to determine, because sales are shrouded by government bureaucracy, secretiveness and guidelines with loopholes, experts in Europe and the United States say....
(Excerpt) Read more at mercurynews.com ...
Sp> Conundrum. So much for even quickly proofreading" before sending..
Duh
It makes me ill to watch these impotent politicians wringing their hands,moaning about how China refuses to re-value the yuan.
Well, they aren't going to unless it benefits them, and really, that's the way it is.
Do you really think that the US is going to push it?
Far more than us (FAR more) the dollar peg is giving the royal shaft to the EU and they are squirming about it, but blaming us. Watch as their euro buys even less fuel, and garners them less for arms, and makes their industrial products even less attractive.
There are fellow Ferrari owners that bitch about higher prices for their toys, but I laugh at these clowns.
We don't want to impose tariffs that will simply be paid by American consumers.
actually the euro is doing very nicely against petro versus the dollar, if that is whatyou mean by fuel.
"Watch as their euro buys even less fuel"
It seems so on the surface, but as the dollar falls the price of crude goes up.
No free lunch for fungible products. 8^)
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