Tuesday, November 23, 2004

China tells US to put its house in order

Front page of today's Financial Times is a story about how China has warned the US about its ballooning trade deficit and how it will not be rushed into revaluing its currency despite pressure from Japan, Europe and America.

`China's custom is that we never blame others for our own problem,' said Li Ruogu, the deputy governor of the People's Bank of China. `For the past 26 years we never put pressure or problems on to the world. The US has the reverse attitude, whenever they have a problem, they blame others.'

This looks like becoming a big source of tension in international politics and is worth monitoring - PolPop.


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