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China-Japan-Koreas
Red China tells US to put its house in order
2004-11-23
In a mark of China's growing economic confidence, the country's central bank has offered blunt advice to Washington about its ballooning trade deficit and unemployment. In an interview with the Financial Times, Li Ruogu, the deputy governor of the People's Bank of China, warned the US not to blame other countries for its economic difficulties. "China's custom is that we never blame others for our own problem," said the senior central bank official. "For the past 26 years, we never put pressure or problems on to the world. The US has the reverse attitude, whenever they have a problem, they blame others."
The commies are becoming real bold.
Mr Li insisted an appreciation of the Chinese currency would not solve the US's structural problems and that although China was "gradually" moving towards greater exchange rate flexibility, it would not do so under heavy external pressure.
Posted by:Mark Espinola

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