China threatens 'nuclear option' of dollar sales

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.

//tinyurl.com/267s4n

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China Meets the World

Truthout's J. Sri Raman writes about his recent trip to China and focuses on the increased role in the economy of foreign businesses and enterprises. Raman describes a recently enacted contract labor law that deals with social conflict situations created by the functioning of multinational corporations.

//www.truthout.org/docs_2006/080907T.shtml


From Information Clearing House

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Tax and trade insanity

National Review
by Michael T. Darda

08/09/07

Seventy-seven years ago, members of Congress erected a tariff wall aimed at protecting American business concerns. The result was a stock market crash followed by drastic retaliatory tariffs and a shutdown of the global trading system. The 1932 Revenue Act made matters worse by massively raising marginal tax rates on domestic incomes. These blunders set the stage for the Depression and world war that followed. Current members of Congress appear to have let their history books collect dust: A raft of anti-China currency and tariff legislation is now widely supported by both political parties as the exigencies of political grandstanding subvert the ideals of sound policy. At the same time, Chinese government officials have threatened to dump some of the government’s $1 trillion in U.S. Treasury securities if Congress continues its currency bashing and tariff threats...

//tinyurl.com/ysymd5


Informant: Thomas L. Knapp



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