China Rejects US Pressure for Currency Controls,Criticizes US Trade Deficit

[NNN0LHI]

http://ap.tbo.com/ap/breaking/MGBIY3D2Y7E.html

China Rejects U.S. Pressure for Early Relaxation of Currency Controls, Criticizes U.S. Trade Deficit

BEIJING (AP) - A Chinese official rejected U.S. pressure for an early end to China's currency controls and said Washington should take action on its own soaring trade deficits instead of blaming other countries for its economic woes. snip

The United States and other nations say Beijing's fixed exchange rate for its currency, the yuan, is too low and gives China's exporters an unfair price advantage.

"This we cannot accept. I say this in a very blunt manner," said Wei Benhua, vice director of the State Administration of Foreign Exchange, speaking at a gathering of Asian business and political leaders in southern China.

"I made it clear to them: this is your problem. You should put your own house in order before you blame your neighbors," said Wei, referring to a recent meeting with U.S. counterparts.

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[w4rma]

1. I think it's time to quit exporting our manufacturing to China.

I also think it's time to quit supporting the Red Chinese Superstore (Wal-Mart).

[Robert Oak]

2. gee, wiz what a surprise

They are only a totalitarian regime, building up their military..

yet US multinationals and our government pushed through the China PNTR
trade agreement which gave them free intellectual property,
free education, free building up their industrial base, free partnership with our companies...

all to ? assist in wiping out the United States?

and now should we be surprised that they say "screw you" to
the strong desire from the US and other nations that they stop
manipulating their currency to gain an even more unfair trade advantage?

The Capitalists will sell us the rope with which we will hang them.
--Vladimir Ilyich Lenin

[Selteri]

3. I'd suggest doing BOTH.

Get our own house in order AND slap China AND india for undercutting everyone else with thier products.

Right now both China and India are wiping the floor by being able to literally sell their 'hand blown' glass production work at such a rate that I can't compete here in America. I agree with Congress that we should impose a tariff to balance the playing field.

AT THE SAME TIME - we as a country need to start spanking those companies that export our jobs in such a flagrant manner that are destroying American Job Growth.

We also need to raise out minimum wage to at least be on the same bar as in Europe (England's is double our own for instance)

Then... and only then, will be be beginning to get our house in order.

[surrey405]

4. no no no no

I agree China is about to conquer the US as the US did to Iraq. But i believe that the US has no right to go and tell another country how to run...its a good thing China is standing against Bush and his dumb ass head...that SOB

[Art_from_Ark]

5. I think I know how you feel, but

it is in no one's best interests-- besides China's-- to economically "conquer" the US. As one who lives in the shadow of the dragon, I am particularly concerned about the growing Chinese influence here in East Asia.