China Devaluation Exposes Fragility of Globalized Economy
China Devaluation Exposes Fragility of Globalized Economy by Kevin Kearns “If the U.S. doesn’t write the rules, China will write the rules,” is a slogan that President Obama has repeated endlessly to sell the Trans-Pacific Partnership (TPP). The president is in effect saying that the United States would force China into complying with a U.S.-preferred set of rules simply by setting them down in the TPP. This claim is an analytically-free assertion if there ever was one, and completely unlikely even if China joined the TPP in the future. Yet the slogan was also mouthed mindlessly by Republican free-trade parrots… View Article
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