Am I about to praise Obama twice in one week? YES!!! Give credit where credit is due.
Its about time someone exposes China's unfair trade practices. Practices, that if American was doing, would get bashed unmercifully for. He called them out and made credtiable threats!
Bravo Mr. President!
Its about time someone exposes China's unfair trade practices. Practices, that if American was doing, would get bashed unmercifully for. He called them out and made credtiable threats!
Bravo Mr. President!
policy of printing money to boost a sluggish economy, which is weakening the dollar.FoxNews.com - G-20 Refuses to Back U.S. Push on China's Currency
SOUL, South Korea -- Leaders of 20 major economies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.
At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies -- including President Barack Obama and China's Hu Jintao -- issued a watered-down statement that only said they agreed to refrain from "competitive devaluation" of currencies.
Such a statement is of little consequence since countries usually only devalue their currencies in extreme situations like a severe financial crisis.
The real dispute is over Washington's allegations that Beijing resorts to "competitive undervaluation" -- artificially keeping its currency, the yuan, weak to gain a trade advantage. But the U.S. position itself has been undermined by its own recent