Paul Krugman, an American economist, wants to start a trade war with China. It would be worse than the 1930s, says Jeremy Warner.
Mtl JP 19:17:11 GMT - 03/22/2010
last week Â±130 congressmen sent a letter to Geithner demanding he designate China "ccy manipulator". (he is obligated under some tradition to make a yey/ney manipulator assessment 2x a year, April being the next such date)
Krugman screams, goads, pushes, itches and is spoiling for a fight between US and China. His war tactics are laid out in Taking On China (NYT)
Unfortunately, I suspect that this Nobel Prize awardee's "chaaaarrrrgge!!!!" yell is not going to be heeded. Wen and Zhou have already decided that.
Mtl JP 18:48:50 GMT - 03/22/2010
and what exactly & specificaly might the "great importance that goes beyond the fundamental interests of the two countries" be ?
Syd18:41:40 GMT - 03/22/2010
Foreign countries and companies shouldn't start currency or trade wars, and forthcoming high-level talks between China and the U.S. will provide an opportunity for the two countries to solve currency and trade problems, Chinese Premier Wen Jiabao said Monday, according to state-run media reports. Following reiterations by top Chinese officials that the yuan isn't undervalued, the remarks are directed at calls by the U.S. and other trading partners for an appreciation of the yuan. But it is still unclear whether China will let the yuan rise this year, as Wen said "the global financial crisis is not over yet." The central bank chief, Zhou Xiaochuan, earlier this month publicly acknowledged for the first time that China has managed the yuan exchange rate mechanism differently during the crisis, adding that "sooner or later" China will exit "the crisis period's special mechanism" when the time is right.
On China-U.S. ties, Wen said the countries' relationship is of great importance that goes beyond the fundamental interests of the two countries, the state-run Xinhua News Agency reported.
The China-U.S. Strategic and Economic Dialog will be held in Beijing in May, which Wen called "an opportunity for China and the U.S. to solve problems".
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