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Its amazing all the opportunities that seem to lie at Michelle's feet.
Now, Michelle. The first thing you have to do, if you hope for your partners Mary Kay and Walmart to make commercial inroads in China, is to get your buddy Prsident Hu to allow the value of Chinese currency to float to its natural market value versus the dollar, instead of keeping it artificially low so that China can flood U.S. markets with cheap goods. This keeps wages artificially low in China, while contributing to the federal debt and unemployment in the U.S. Stockpiling U.S. dollars will not really help China in the long run (we can always print more.)
Congratulations, Michelle, for your new official post.
Now, Michelle, as an international economist, you must be keenly aware of the perilous position the Dollar has been in. The US even invaded Irag to ensure PetroDollar stay as such, as that scoundrel Saddam Hussain had the gall to ask for Euros for his oil! After all those years of bestowing friendship as well as financial and military aids on him, how could US stand by while he initiated and spread such damaging practice?! Without the PetroDollar as the World's Reserve Currency, and privileges of writing checks people don't cash, the US$ could have tanked instead of slowly sinking. Granted China has been propping up the Dollar and the US economy not all out of altruism. They have to protect their Trillion Dollar loans to the US. Surely you must have laughed at the shows both governments put up, with the US assuring China of its Strong Dollar Policy while trying to inflat away its ginormous debts by printing insane amounts of the fiat Dollar, and China promising to support the said Dollar by not dumping its US Treasury Notes, all the while spending and investing US$ all over the world to procure current and future tangible resources, knowing the $'s purchasing power will inevitably diminish. They even have the audacity to buy goodwill by using the Dollars to build infra-strutures, malls, villages, etc. all over Africa and South America!
You must know well, Michelle, that without a strong fiat Dollar to buy oil and real goods produced with real (and cheap) labor, most Americans' standard of living would long have plunged. In fact, prices would have inflated so much that even many employed Americans would find it hard to afford food for their families and energy to heat or cool their homes or to transport themselves and their goods. Witness how much the cost of everything that can't be imported has risen over the years, such as health care and other professional services, as well as real estate until it collapsed from super inflation. Yes, yes, you and I both know price inflation is finally happening anyway. The Big Banks have been having barrels of fun and profits leveraging all the play money gifted them by their government buddies, causing asset inflation, but eventually some of the trillions of printed Dollars are flowing out to the general population. There is only so much China can do to slow down and postpone the Dollar devaluation and hyper inflation.
All posturing notwithstanding, the two frienemies have actually been counting on each other to manage and moderate the decline of the once mighty Buck. Meanwhile they put on the dog and pony shows to cover their shenanigans of public charges and censures with closed door negotiations and actual collabrations, as well as displays of big smiles and mutual assurances at state banquets with hidden agendas and schemes backed up with missiles and warships. However, Michelle, of all people, you should be able to glide, spin, and jump your way through the political gamesmanship with the skills and grace you have honed in your long and luminous skating career.
BTW, Michelle, do thank China for their draconian One Child Policy without which the price of oil must have been way over $200/barrel and starvation and food riots must be rampant all over the world already instead just beginning.
Your role may sound minor, Michelle, but let's hope you will help women to rise up and wise up the world's governments. In any event, please ensure figure skating flourish as the coolest sport in both countries.
Negociations are well under way but so far USA is holding firm and demanding two trillion for Michelle's services.
That along with free Chinese takeout for the Whitehouse.