More on Financial Relationship between China and the U.S.

Here is a link to an interesting opinion piece of China’s economic policies, their negative impact on the global economy, and what the U.S. should do:
http://www.nytimes.com/2010/03/15/opinion/15krugman.html

Naturally China is engaging in the economic practices that advantage them! There is nothing unusual about that. If we want hand-holding sing-songing self-sacrifice, we need to come up with new understandings of national health, global standing, and the the nature of progress. China plays to win respect as a global power and a developed nation.

Krugman is right, however, in that the U.S. needs to stop trying to play nice and to stop being worried that “the Chinese have us over the barrel.” Tariffs would help. Pressuring businesses to stop moving their production to China, and holding consumers accountable for their purchases also makes a difference. Just as with the environment, it is absurd for the West to expect China to shape up “on principle.” The whole notion of adherence to some abstract set of principles doesn’t translate into the China I have been experiencing this year.

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