Obama Attacks Beijing Over It’s Undervalued Yuan
I thought Obama was going to repair our standing in the world and everyone was going to love us. Via Times Online.uk:
Long-simmering tensions between Beijing and Washington over the value of China’s currency have spilled over into angry words at the highest level, further damaging ties hit by a series of disputes in the few brief weeks since the start of the year.The chill in one of the world’s most important diplomatic relationships is almost certain to deepen in the next few months as the world’s largest and third-largest economies tackle an array of contentious issues, ranging from cyber attacks to the Dalai Lama.
China responded swiftly to a pledge from President Barack Obama that he would be tougher with Beijing over the value of the yuan, which Washington believes is artificially undervalued. Foreign Ministry spokesman Ma Zhaoxu said: “Accusations and pressure do not help to solve the problem.”
President Obama hinted at a shift away from the mild approach that he had earlier adopted — most notably on his first official visit to China late last year when he avoided criticising his hosts in public and appeared to acquiesce to restrictions on a “town hall” meeting and remarks to the media.
Extra big tip O’ the hat to DanJ @ today’s world news
Technorati Tags: hope, Obama Attacks, change, currency value
Edit: that would be “its Yuan”. His, hers, its; he’s, she’s, it’s.
Trying to make the dollar weaker is not a winning strategy.
As Obama champions the continued devaluing of our dollar, he’s complaining about China?
What an idiot!
How about worrying about our dollar Obama? You know, the one that’s worth only 4 cents of its value since the founding of the progressive Fed?
@Brian H: Its a bad habit of mine to add call an its a it’s…
@theCL: I know, the more I watch Obama and his henchmen, the more I think I’m watching the twilight zone.