Friday, January 23, 2009

Geithner Says China Manipulates Its Currency

Why Crap At Wal-Mart Is So Cheap

The Washington Post is reading the tea leaves to say that the Obama Administration is taking a harder stand with China by stating the obvious.
Timothy F. Geithner ... signaled a more confrontational approach toward China, bluntly stating that the new administration thinks Beijing is "manipulating" its currency and it will act "aggressively" using "all the diplomatic avenues" to change China's currency practices.

China's control of the value of its currency, the yuan, has been a friction point for years, with some economists saying Beijing has kept its currency artificially low to keep the prices of its goods cheap and generate trade surpluses
You need an undervalued currency to keep all that poisoned pet food and all those lead-tainted toys affordable.

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