What happens when we prostitute our economy, and especially manufacturing, to the Chinese?
“China threatens ‘nuclear option’ of dollar sales
By Ambrose Evans-Pritchard
Last Updated: 9:54am BST 08/08/2007
The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.
Two officials at leading Communist Party bodies have given interviews in recent days warning – for the first time – that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.
Shifts in Chinese policy are often announced through key think tanks and academies.
Described as China’s “nuclear option” in the state media, such action could trigger a dollar crash at a time when the US currency is already breaking down through historic support levels……”
More tainted toothpaste has been discovered in Ohio and Michigan, made in China of course.
Now what are the economists and politicians recommending? Whoring our economy to the Chinese hasn’t worked so well.