World Trade: The US trade deficit and Chinese’ surpluses: economics v paranoia - - by Gerard Jackson
"Now that the recent turmoil in international markets has subsided for now attention is returning to the sinister machinations of Beijing and its silent war against the US economy. It is held by some — in fact, by far too many — that China is using currency manipulation to deliberately deindustrialise the US and force its manufacturers to export jobs, as evidenced by the US trade deficit. Moreover, China is threatening to use its dollar reserves to sink the US economy. Even without the paranoia some of the economic fallacies that underpin these charges are common currency among the populace, including congress which has more than its share of economic illiterates."
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