China Manipulating its Currency?

[chilton747]

it seems foolish to poke the tiger with a stick.

you'd think... and a bit disappointing

 

 

Add me to that assessment!! I have been left just shaking my head the past couple of days. I thought we were supposed to have moved from 'amateur hour' in our international relations and posture !?

 

News Item: 01/24

 

Selig Harrison, director of the Asia program at the U.S.-based Center for International Policy, said it was "very ill-advised for the new administration to confront China as if this were 10 years ago and we were in a strong financial position internationally."

"We are dependent on Chinese goodwill for our economic survival and viability, and, therefore, it seems to me that this type of posture is very risky," he said.

 

Despite an early face-off with China over an intercepted U.S. spy plane, former President George W. Bush made it a priority to strengthen relations with China while also pushing the country to live up to what he considered its duties as an emerging global superpower and a veto-holding member of the U.N. Security Council.

 

Good point!

 

The US has become increasingly dependent upon other countries, and is moving into an increasingly arrogant posture, by trying to convince its own people that stimulus packages and auto bailouts will help. It gets pretty scary that the US will increase its borrowing to pay off credit card bills.

 

The American people have always been resilient when left to their own devices. I fear there is now a generation that believes it is the government's job to do what they should be doing themselves.

 

Amen, I totally agree!!

[Guest Tony n Terrific]

The Chinese government published a statement denying the United States'allegation that China is manipulating the exchange rate of foreign currencies.

U.S. criticism is not only not based on facts, it also is wrong in explaining the real reasons behind the current spreading financial crisis. The Chinese government urges the United States to reflect on its own economic growth pattern, which relies on lending, instead of blaming another nation.