Skip to main content

Posts

Showing posts with the label paul krugman chinese new year

The Obama Administration Knew Of Chinese Predatory Practices And Did Nothing

UNCLASSIFIED U.S. Department of State Case No. F-2014-20439 Doc No. C05765980 Date: 08/31/2015  RELEASE IN PART B6  From: sbwhoeop B61 Sent: Friday, January 1, 2010 12:44 PM To:  H  Subject: Re: Happy New Year!  Krugman, in case you haven't seen: January 1, 2010 Op-Ed Columnist Chinese New Year By PAUL KRUGMAN It's the season when pundits traditionally make predictions about the year ahead. Mine concerns international economics: I predict that 2010 will be the year of China. And not in a good way. Actually, the biggest problems with China involve climate change. But today I want to focus on currency policy. China has become a major financial and trade power. But it doesn't act like other big economies. Instead, it follows a mercantilist policy, keeping its trade surplus artificially high. And in today's depressed world, that policy is, to put it bluntly, predatory.  Here's how it works: Unlike the dollar, the euro or the yen, whose values fluctuate freely, China'