A Belgian Borse... done Chinese.
China stated yesterday 11/7/2007, they will move currency holdings from the weak U.S. Dollar, to Euros, Canadian Dollars, and other "hard currency". Besides causing U.S. interest rates to rise, or inflation to rise, or both, what will this do to me, as an American? The first casualty may be Wal-Mart. Goods from China, that we have become so accustomed to, may become very expensive. Can Wal-Mart survive with high prices?
Wal-Mart says it saves several thousand dollars per family, in communities it serves. Wal-Mart is also one of the biggest employers, in the U.S..  Rising prices at Wal-Mart will effect everyone, even those who do not shop there.
Auto manufacturers, such as General Motors, Ford, and to a lesser extent, Chrysler ( now Cerebus ) have parts imported from China. Boeing has some manufacturing in China. Much of American Industry depends on China for some content. The entire toy industry seeems to revolve around China. If you thought high oil prices were putting a bite on your wallet, high exchange rates for Chinese goods will hit harder than oil. The Chinese will also drive oil prices higher, by causing petrol settlements in currency other than U.S. Dollars, as they, and the rest of the world buy their oil in other currency. The U.S. Dollar will be further devalued.
The one good thing this will do, U.S. exports will be cheap abroad. I would guess one other good thing could be, U.S. foreign debt will be greatly reduced, in value, therefore, balancing the books. Smaller real foreign debt, and more markets for U.S. exports will set a foundation for a stable economic future, if we can last through the short term pain.
Hold on tight!