tez
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- Jun 9, 2008
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To Philip: I agree it's a bit harsh, but I wouldn't put it aside as being untrue. Right now with the mess in Europe and particularly Greece one argument I've heard/read several times for dropping the Euro in Greece is that it will encourage tourism and bring money. It's not exactly the plan to make them poor in order to get money, but it's an outcome that I'm fairly certain doesn't escape anyone... Isn't it similar to a country manipulating the currency, not letting it get too strong, in order to encourage exports? Also there's government manipulation to keep a country's labor costs low. Thailand for example benefits from paying their workers next to nothing, so they can make things cheaply and export them "competitively." If the Thais were a wealthier people, they wouldn't accept such low pay and thus the companies wouldn't be so competitive in the market.
Without going on much more and changing the topic of the thread, I'd say it's not a nonsense statement at all.
Without going on much more and changing the topic of the thread, I'd say it's not a nonsense statement at all.