– October 27, 2010

“In early October, China’s Premier Wen Jiabao addressed European leaders in Brussels. Ominous talk of currency wars dominated the proceedings. And why not? After all, America — and a growing coalition of forces — has mounted a massive attack on China. And the Americanled coalition’s weapon of choice is the renminbi- U.S. dollar exchange rate. According to America’s war “plan,” a maxi appreciation of the RMB against the greenback will generate economic instability in China. This will rein in the hegemon.

Premier Wen had good reasons to be worried and to warn the assembled in Brussels that a maxi renminbi appreciation would destabilize China and be “a disaster for the world.”” Read more

“America’s ‘Plan’ to Destabilize China” 
Steve Hanke 
Via the Cato Institute

Image by Salvatore Vuono / FreeDigitalPhotos.net.


Tom Duncan

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