Ungodly Politics

"Announcing your plans is a good way to hear god laugh." - Al Swearingen

Thursday, March 11, 2004  

The Guardian is reporting that the ever expanding trade deficit has just had it's worst month. The deficit just expanded by a cool $43.1 billion ( ~£30 billion ). This part of the article is particularly worrying...

The trade deficit with China, a particular bugbear for the Bush administration, rose to $11.5bn in January, compared with $9.4bn a year earlier.

US treasury officials have put heavy pressure on Beijing to abandon the renminbi's peg to the dollar which they blame for keeping Chinese exports artificially cheap.

But the Chinese authorities have shown little appetite for letting their currency appreciate, which could choke growth.

Has Team Bush left the US economy beholden to Communist China? It would seem so.

posted by RogueTrooper | 04:23 | |
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