But Mr Lin's view that this crisis will eventually lead to some sort of international monetary realignment is a plausible one; the renminbi could join the dollar as a reserve currency, for example, or we could move to a Bretton Woods system of managed exchange rates.Mr lin's proposal is a variant on the latter.
For both sides, renminbi appreciation now would mean less likelihood of a disorderly international crisis and realignment of the dollar in the future.
The problem here may be that it is easy for American traders to get insular; to assume that QE means the collapse of the dollar when other nations are also using unconventional monetary policy.To confess, I have long held the view that this crisis resembles that of the 1930s and the 1970s, in requiring a realignment of the international financial system.
The war led to the realignment of previous international borders, and a large part of Rupshu's winter pastures was lost to China during this realignment.
Realignment of the international dateline in 1995 made the island the first land to greet the dawn of the new millennium, and the atoll was renamed Millennium in honor of this event.
Nothing spurs geographical realignment quite like crossing international borders.
"To visit Parque de la Memoria now, in the company of Mauricio Macri, in order to put some pseudo-'progressive' veneer on the rewards for Macri's government in exchange for the latter's realignment with US and international finance capital, strikes me as one of the most disgusting acts of political theater I've seen in recent years," he said.
There was no strategic foreign policy realignment or even a calibrated international rebalancing.
If the U.S. Treasury determines that a country is manipulating its currency to gain a trade advantage, it can call in the International Monetary Fund to press for a realignment.
The London Stock Exchange said in a statement that its "leading position in the trading of international securities gives it a pivotal role in the realignment of exchanges".
