It's really saying something that today's Republican party is to the right of Milton Friedman on monetary policy!
By Paul Krugman
August 11, 2013 | New York Times
Showing posts with label currency devaluation. Show all posts
Showing posts with label currency devaluation. Show all posts
Monday, August 12, 2013
Monday, October 1, 2012
Baker: 'Tough on China' = Tough on U.S. business
Good point:
[I]f Romney or any other president were to crack down on China over its currency, not only would he be forced to first overcome the opposition of the firms that directly profit from the over-valued dollar, he would also have to overcome the objections of many powerful corporations who want their own issues with China to be given priority.In short, the issue is not really one of finding a president who is prepared to stand up and be tough against a cheating China, the issue is finding a president who is prepared to stand up and be tough with US corporate interests. Romney can certainly blame President Obama for not taking the tough stand against US corporations in his first term. The question is whether there is reason to believe that Romney would be any tougher on his friends and former business partners.
Romney's ads claim that he will declare China to be a currency manipulator and take retaliatory measures.
By Dean Baker
October 1, 2012 | Al Jazeera
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