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On the prospects for a China currency move
Tuesday, March 16, 2010
The funny thing about the escalation of the U.S.-China currency spat is that, apparently, both sides think that things are going well enough that they can take something like this on.
From the Tom Toles collection at the Washington Post.
1 comments:
The US cannot afford NOT to take this on. We should have taken this on a long time ago. The present pseudo free trade arrangement has gutted the productive sectors of the US economy (engineering and manufacturing) while enriching the financiers and upper management and transferring know-how to China on a massive scale.
The fact that this went on for so long is a true betrayal of this country and one of main causes of the present situation. Of course, while necessary, addressing the currency values is not a panacea and there are other steps the US must take to restore international competitiveness and balance trade.
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