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They would be pissed and stop loaning us money and we would be pissed and put tariffs on their consumer junk. We would have to raise taxes on the rich and make all our own consumer junk. That would be a win-win result.
It is a solution that does nothing but the rhetoric sways the ignorant and Romney can thump his chest and claim he tried to do something. But lets see, how long have we been talking about China and currency manipulation? Will China give a rats a$$ about being labeled a currency manipulater? I doubt it why would they?
What would happen if China decided to dump US treasuries? (US debt) the US dollar is China's largest holding.
In simple terms, if China starts to actively move out of US dollar denominated assets, that would be the beginning of the end for the US dollar as the world reserve currency.
If Romney (and I realise it's unlikely) becomes president, then he should be careful who he threatens.
The Big 10 states like Ohio,Michigan,PA Wisconsin are protectionist. They like this stuff. Personally,I disagree with this,I am a free trader. But lets nor pretend Obama doesn't demagouge on China just as much.
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Anybody expecting a crackdown??
