Global News Journal
Beyond the World news headlines
from Tales from the Trail:
Geithner tells Congress: calling China names doesn’t get you anywhere
U.S. lawmakers are mad and want Treasury Secretary Timothy Geithner to step in and call China a name -- "currency manipulator" -- which may not sound like much on city streets but can be quite an insult in world financial circles.
"At a time when the U.S. economy is trying to pick itself up off the ground, China's currency manipulation is like a boot to the throat of our recovery. This administration refuses to try and take that boot off our neck." That's not a Republican raging against President Barack Obama's Treasury Secretary, it's Senator Charles Schumer, a Democrat from New York (where Wall Street happens to be located). 
"Mr. Secretary, although there may be some modest disagreement about what to do, I'm increasingly coming to the view that the only person in this room who believes that China is not manipulating its currency is you," Schumer said.
The New York senator, never one to hold back when it comes to words, let loose on Geithner at a Senate Banking Committee hearing on China's exchange rate policies which are a source of friction with the United States.
from MacroScope:
Unlocking the Yuan
Reuters's top news and innovation teams have put together a web site on the yuan and the debate over its revaluation. Particularly worth a look after the weekend's statement by China that it would allow more flexibility in its currency exchange. You can access it here, but it looks like this:
from Tales from the Trail:
The coming conflict with China
2008 was the last presidential election when voters didn't know or care about the candidates views on China, argues political risk analyst Ian Bremmer.
Bremmer's new book "The End of the Free Market" argues that the Chinese economic model -- which he calls state capitalism -- is so fundamentally different from Western free market capitalism that tensions and economic conflict are inevitable in the years ahead.
