They should be careful what they ask for. China could decide to do it. There would be a rather long period between the crash of the dollar and the time anyone chose to risk doing any manufacturing here. Who would invest in this new manufacturing and with what?
Their imports should also me taxed to penalize them for their slave wages!
I suppose that the Obamatons have gotten tired of blaming everything on Bush.
In the meantime, they do everything they can to create an atmosphere conducive to the devaluation of the U.S. Dollar.
I suppose that Pelosi and Lil Timmy have gotten the word that the Chicoms have tired of financing their perpetual deficits. Now, like a typical deadbeat borrower, they are figuring out ways to evade repayment. Devaluation of the dollar vis-a-vis the RMB effectively reduces real value of US national indebtedness to the Chicoms. Like Pelosi says, this will happen “at no cost to the Treasury” ... that is, no cost besides another permanent stain on America’s already dubious reputation for economic sanity and stability.
China owns around $2 trillion of our worthless Treasury bonds and our Dear Leader is going to try and strongarm them into making their currency value increase? He’s as clueless as a 2 year old poking at a sleeping pit bull.
China should not have permanent most favored nation status and the WTO should not judge our trade policies.