loosecannon
Senior Member
- May 7, 2007
- 4,888
- 269
[/QUOTE]The trouble is that China has never genuinely accepted the basic rules governing the world economy. China follows those rules when they suit its interests and rejects, modifies or ignores them when they don't. Every nation, including the United States, would like to do the same, and most have tried. What's different is that most other countries support the legitimacy of the rules -- often requiring the sacrifice of immediate economic self-interest -- and none is as big as China....
Amen. But I think we should try coordinated multilateral QE before we risk embargoes. Esp if our goal is to reinforce the rules of the world economy.
On the other hand our twin deficits are fully the result of skewed rules, and China intends to alter that.