The U.S. Congress is running scared. With a mid-term election coming up and a populace that is unhappy about the economy, they have resorted to be mad about something, and that something appears to be China – specifically China’s valuation of the Yuan (RMB). The argument goes:
China is keeping the yuan artificially low. In keeping the Yuan low, China is stealing job from America, preventing America from undergoing a quick economic recovery. China is artificially manipulating its currency to gain an unfair trade advantage against America. America must wake up and do something. China doesn’t listen to reason. If the U.S. must go into a trade war with China, so be it.
Let’s take a look at the engine under the hood of such reasoning. Continue reading
The following is a translation of an op-ed published published in China Review News.
May 27, 2010 – Opinion: the Foxconn Incident is a Reflection of the Growing Pains Associated with China’s Traditional Mode of Development
The recent spate of suicides at Foxconn in China has brought unprecedented attention to this major international manufacturing subcontractor of electronics equipments. While the causes of these suicides are inevitably complex, the incidents are a general reflection of the stress the traditional mode of development has wrought on China’s society and provide a warning that change must be brought about soon. Continue reading
In an interview to XinHua, Former U.S. Treasury Secretary Henry Paulson declared that he was wrongly portrayed to have laid blame on China for causing today’s global economic crisis. Continue reading