More from Pettis: Anybody who thinks China is going to solve global trade imbalances by...


More from Pettis: Anybody who thinks China is going to solve global trade imbalances by ratcheting up consumption isn't paying attention. Just the opposite, calls are already on the rise to devalue the yuan. Unless the U.S. is willing to accept lower wages and enough years of high unemployment to make it competitive, the only other solution is intervention - devaluation, tariffs, quotas. "(It's) almost a matter of logic to predict a collapse in international trade."

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Comments (5)
  • buybuybear
    , contributor
    Comments (389) | Send Message
     
    Everyone wants a cheap currency... it seems to be the only way to give a semblance of growth... pathetic...

     

    NO MORE PRINTING
    3 Dec 2011, 10:37 AM Reply Like
  • spald_fr
    , contributor
    Comments (2814) | Send Message
     
    Wouldn't the Chinese yuan be an ideal candidate for George Soros to work his currency magic?
    3 Dec 2011, 10:41 AM Reply Like
  • Tack
    , contributor
    Comments (16281) | Send Message
     
    "(It's) almost a matter of logic to predict a collapse in 'fill-in-the-blank' on SA."
    3 Dec 2011, 12:19 PM Reply Like
  • davidbdc
    , contributor
    Comments (3194) | Send Message
     
    The only thing the USA needs to do is to cut government spending, balance the budget, prosecute fraud and uphold the law, prosecute corruption and graft, and restore our economic freedoms that have been slowly eroded as the triumvirate of the public unions, politicians, and financial elite loot the public treasury.

     

    Freedom and Liberty, not more and more government.
    3 Dec 2011, 01:41 PM Reply Like
  • wyostocks
    , contributor
    Comments (9114) | Send Message
     
    davidbdc
    Unfortunately to accomplish your list would require drastically cutting the power of politicians, unions and the 1%.
    Ain't going to happen until the Black Swan event comes; and it surely will. Whatever it may be.
    3 Dec 2011, 02:42 PM Reply Like
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