Monday, April 12, 2010

Obama's Tiptoe Thru the Tulips with China

In the wake of Paul Krugman and members of Congress wanting to label China a currency manipulator, those expecting fireworks at Monday's meeting between president Obama and Chinese president Hu Jintao must have been disappointed.

Certainly, cooler head prevailed, and that is a good thing. However, nothing much was accomplished either as noted by Bloomberg in Hu Says China Follows Own Path on Yuan as Obama Seeks Revalue. http://www.bloomberg.com/apps/news?pid= ... JiUA&pos=8

President Barack Obama urged China to move toward a “more market-oriented exchange rateâ€