tag:blogger.com,1999:blog-12265028.post112063140607107175..comments2024-03-29T03:52:34.263-07:00Comments on China Matters: Does the Left Have a Stake in the CNOOC Bid for Unocal?Unknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-12265028.post-1120753338410729812005-07-07T09:22:00.000-07:002005-07-07T09:22:00.000-07:00A government has the right not to sell assets it c...A government has the right not to sell assets it considers strategic in the global free market.<BR/><BR/>This has been happening for some time with oil and gas. It is often the case with military equipment. Also there was an example in the early 1970's, when the US decided that its store of gold had strategic value; one result of the decision was that the world's monetary system became 'floating' (not 'fixed' to gold) and therefore much looser. <BR/> <BR/>Some countries have since tried to reintroduce a little monetary discipline. China have pegged to the dollar, and many countries in the EU have adopted the euro. There is however much opposition to monetary discipline.<BR/><BR/>Floating exchange rates, fixed rates, or something else?IJhttps://www.blogger.com/profile/09274040231230227329noreply@blogger.com