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Message:: [QUOTE="Morgan1878, post: 734669, member: 17869"]No economic war..China needs to export their goods at a competitive price and U.S. consumers are an important customer. That's one reason the yuan (or renminbi) is pegged to the dollar. Even if the dollar goes down, the chinese currency remains about the same and as a result so do their export prices. China will have likely have big political problems if its economy does not grow at a brisk pace. This year in China there have been a lot more demonstrations by unemployed Chinese. Chinese authorities do not want this civil unrest. They need our consumers to keep the factories humming. On the other hand, the U.S. needs other countries to buy the large supply of T-bills that are currently financing our stimulus programs. And yes, the G-20 is a consortium of the 20 most important countries that meet from time to time to find common solutions for the healing of the global economy. The realization is that negative economic conditions in one country can have negative consequences for other nations. So, in effect we all are "playing nice" to keep the world economic engine going. I prefer this type of detente to saber rattling, protective tariffs and other counter-productive policies that can occur when countries feel threatened. And, as a side note, what country is the world's largest exporter? Not just once, but numerous times. I think the answer will surprise many.[/QUOTE]