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China will retaliate if US imposes sanctions
Last week, we heard Europe was to blame for US economic woes. The President said that “some of the challenges that we've had over the last several months actually have to do with the fact that in Europe we haven't seen them deal with their banking system and their financial system as effectively as they needed to.” This is undoubtedly true. Nevertheless, the implication was that US problems were made in Europe instead of the US. This week, we are to hear that China is to blame for US economic woes. Congress will meet to take up legislation to threaten sanctions against China for currency manipulation. The Chinese ... (full story)
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