This is what happens when you’re in debt to China or any country
Well the United States is calling on China to let it’s currency appreciate in value. For years it has been well known that China keeps its currency low to boost their exports to the United States and other countries. Yet when you’re in debt by an enormous amount to China this puts you in a predicament.
“In the press conference last year, I said I was a bit concerned about it,” he said. “This year, I make the same remark. I am still concerned. I hope the U.S. will take concrete measures to assure its investors.”
China makes a fair case that the United States should get its own house in order before lashing out at them. Why during the Bush years did that administration take a budget surplus and run us into the ground? Also, what about the trade deficit we face? Now all of a sudden Republicans and conservatives want to become “fiscally responsible” but they are feckless and have no clothes on. Furthermore, I’m for balancing budgets and equalizing trade deficits, but not on the backs of people. So first we need to fix the mess we’re in then you can look outward.
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