‘Schadenfreude’ and Economic Development

  • 2010-10-21
  • By Janis Berzins
China’s manipulation of the renminbi is worrying the entire world about a currency war. This was aggravated by the increasing American anger over China’s exchange policy. Accordingly to data published last Thursday by the US Census Bureau, the US trade deficit has climbed to - 46.3 billion dollars, from which 60.5 percent is with China. This is resulting in increasing pressures for labeling China as a currency manipulator by the US Treasury. In Germany, companies are complaining about what they consider China’s aggressive strategy towards Europe. Germany’s Industr...
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