http://joecobb.com Stand Up for Human Rights Sun, 05 Feb 2012 01:39:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://joecobb.com/essays/what-do-you-mean-us-mr-president/comment-page-1/#comment-3 www.JoeCobb.com » Blog Archive » Free Markets Also Have Tough Negotiators Thu, 18 Oct 2007 20:22:43 +0000 http://www.joecobb.com/what-do-you-mean-us-mr-president/#comment-3 [...] The Chinese government has replied, forcefully. It can use the “threat” of dumping dollar asset Treasury bonds, affecting the exchange rate of the U.S. dollar as well as U.S. domestic interest rates, to forestall this stupid congressional advocacy. Such an action by China would possibly hurt them more than it would hurt the American economy, but it would hurt the American economy. It shows the cost of this American protectionism; those like Schumer only say it would help "us" (see my essay, "What Do You Mean 'Us,' Mr. President?") by which he means himself and his friends, but not you and me. [...] The Chinese government has replied, forcefully. It can use the “threat” of dumping dollar asset Treasury bonds, affecting the exchange rate of the U.S. dollar as well as U.S. domestic interest rates, to forestall this stupid congressional advocacy. Such an action by China would possibly hurt them more than it would hurt the American economy, but it would hurt the American economy. It shows the cost of this American protectionism; those like Schumer only say it would help “us” (see my essay, “What Do You Mean ‘Us,’ Mr. President?”) by which he means himself and his friends, but not you and me.

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