I am giving him a hard time, but I am definately glad that GW has taken this up.
This currency thing is a long term issue. I hope he gets that. Balance in Asia is a key long term goal. Its not only good for us but for China too.
China doesn't want a defunct economy. They sure as hell don't want one that is reliant on us for half of their growth. Eventually the factories will stop moving to China.
FDI isn't going to save them in the long term. It works for now though so thats what they do. They have the economic bull by the tail, but definately not by the horns.
China needs an economy that works from the inside out. Not from the outside in.
That is not some anti-China talk either.
The problem is China is going to have to face its own fears to accomplish what needs to be accomplished.
Essentially we have been pandering to China's fears, but not helping overcome them.