Floating Chinese currency might be a DISASTER for both sides! China does not have a good banking system.
who cares. what are you worried about, that if they float, that the slowing chinese economy will mean they buy less US exports? so what, right now, we lose more from the US economy from the industries and jobs being exported to China - then we gain from exporting to them.
we are just going to rip through wave after wave of US industries they get ripped apart and sent to china - its not just simple stuff like xmas tree lights and toys, or home appliances, they will now take the whole textile industry, semiconductors and tech and high tech manufacturing, they will soon be coming for biotech, and we have all seen the ominous signs regarding autos. where does it end? the answer is, it doesn't end, until the US economy is drivien down to only service jobs, government jobs, lawyers, real estate agents, and corporate executives.
since we can't overcome the political and treaty issues to impose across the board tariffs on them - breaking the currency peg is the next best thing.
<< .... restore "moderate" / "well calibrated" tariffs .... >>
What rubbish.
"Tarriffs" is simply another word for tax.
If tarriff/taxes are imposed they will penalize and be paid by US -- not china.
"Floating Chinese currency might be a DISASTER for both sides! China does not have a good banking system."
But...but...
Didn't Arthur Andersen swear on a stack of financial disclosure documents that China's economy is growing faster than anyone else's?
Why is it a good idea to allow them to prop up their bad banking system? A free floating currency would expose its flaws and the flaws generally in their industrialization along the lines of Mussolini's Corporate State, a sort of main chow for the party cow system.