Our world, one led economically and militarily by the United States of America is at a crossroad. The people of America will in the coming 11 months choose a new leader to lead not only that fair nation, but in many ways, this world we all live in.
We understand as foreigners from Hong Kong China, that we have no direct leverage on the process. But we wish the people of America will at least hear a voice from a far, and understand better the hopes we have.
Today begins the process in the state of Iowa, of the two major U.S. political parties choosing their presidential candidates. We simply hope the people of America will take a little more time to listen, to what your Congressman from Texas, a Dr. Ron Paul, has to say on various issues.
The one position Ron Paul is best known for is his demand for immediate withdrawal of American troops from Iraq. On initial inspection, this position signals weakness and abandonment. But little more closely, you will hear Paul’s defense of the U.S. Congress having the monopoly power to declare war.
War requires the sacrifice of many. Without the express approval from the U.S. Congress, the branch of government with most legitimacy, parties involved including foreign allies and enemies, will doubt the American will and act accordingly. As the war in Iraq has proven, such doubt has a highly corrosive effect on the outcome. If Congress formally declares war, a President Paul will be ready to fight, but not a moment sooner.
Paul has also been criticized by his unwavering demand for the U.S. to be withdrawn from organizations such as the World Trade Organization (W.T.O.). With his critics labeling him an ‘isolationist’.
But little more closely, with WTO as an example, Paul wants to pull the U.S. out not because he fears trade, but because he wants America to be engaged in free trade unilaterally. Treating all trade partners equally, and not to discriminate arbitrarily nation to nation. As the people of Hong Kong has been victims of U.S. trade policy, especially in textiles and garments, such policy will win the respect from our land. It is perhaps Paul who remembers Bastiat best, “Where goods do not cross borders, soldiers will."
On money, the Hong Kong Dollar has been pegged to the U.S. Dollar for more than 20 years. We peg our currency in order to receive the stability of the U.S. Dollar anchor. As we enter 2008, the top concern for us is the galloping inflation that is developing. We firmly believe inflation is always and everywhere a monetary phenomenon, thereby conclude the root of the current inflation lies with central bank of America, The Federal Reserve.
With our savers and pensioners in mind, Paul’s demand to end the U.S. Federal Reserves’ unrestricted ability to debase the currency, by returning the U.S. Dollar to a gold standard receives our most ardent support.
We hope and endorse Ron Paul for the U.S. Republican nomination.