"With chronic financial ailments and persistent high unemployment driving thousands of protesters to the streets in New York and 50 other cities, some U.S. lawmakers are, tediously, again trying to blame the Chinese currency instead of addressing the real reasons for the country's economic woes.
After a procedural vote Monday, the U.S. Senate is expected to debate a bill which, if passed, will empower U.S. companies to seek retaliatory tariffs on goods imported from countries whose currencies they deem "undervalued."
If these U.S. politicians, who have been inculcating their constituents with the idea that appreciating the Chinese currency is the panacea for American unemployment, successfully push through the bill, their moves are very likely to backfire, ramping up possible waves of trade protectionism that would favor nobody"............READ MORE
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