Given how Ben Bernanke has become Buzz Lightyear announcing QE3+, we here at Lumaj Group term it ‘to infinity and beyond’; a desperate plea to help a desperate political class retain THEIR JOBS! In fairness then, any criticism of how China manipulates its currency is withered given how exchange rates move in tandem with each other. Nevertheless, the authoritarians in Beijing should be criticized for far more than currency depreciation.
China has massive human rights abuses, it has no rule of law, it infringes on any/all trademarks, steals massive amounts of U.S. technology and disregards the civilized rules of conduct regarding international affairs. It has absolutely no law or political system for protecting its citizens or employees from fraud or injury. We didn’t even get to the massive flagrant disregard for global environmental standards it continues to ignore in both its domestic and international relations. Just ask the Africans, who are dealing with immense damage to their natural environments after permitting Chinese companies authority.
The scramble for Africa or natural resources has again met a rapacious Empire.
Don’t expect the greens or Socialist Fabians in the United States to mount a campaign in Beijing or South Africa. Instead, what America receives for its commitment to underwrite global standards for prosperity is the misplaced aggression from unreformed Marxists in the guise of puritan passion.
The progeny of Rousseau is blind to the authoritarian mien of those on the ascendant left in Beijing.
How else to say it: passion blinds.