Stephen S. Roach writing for CNN.com says, “America’s trade deficit is multilateral: the US ran deficits with 88 nations in 2010. A multilateral imbalance – especially one that it is traceable to a saving shortfall – cannot be fixed by putting pressure on a bilateral exchange rate. Indeed, America’s major threat is from within. Blaming China merely impedes the heavy lifting that must be done at home – namely, boosting saving by cutting budget deficits and encouraging households to save income rather than rely on asset bubbles.”

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Amazing, logic and truth for a refreshing change instead of demonizing China with more political/media propaganda, which is norm during the run up to a national election in the US.
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Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

This entry was posted on Thursday, April 26th, 2012 at 12:17 and is filed under America, China, economy, media, politics, United States. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to

  1. Unknown's avatar Comparing Economy Management – China versus the United States « iLook China says:
    April 28, 2012 at 11:43

    […] I Reblogged Roach’s piece and you may reach it by scrolling down or clicking on this iLook China link. […]

    Reply

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