Don't Start a Trade War, America. You Won't Win.
Thomas Friedman, The New York Times | October 20, 2011
China’s currency manipulation is now a real problem for both the US and the People's Republic, and the US Congress should make some effort to press China on this issue; however, the current plan to place tariffs on Chinese exports if they do not revalue will trigger a debilitating trade war. ++ The US has no leverage because of overconsumption and a lack of savings, planning, and infrastructure investment. ++ Focusing on innovation and highly-skilled labor is the only way to encourage investment and rebuild infrastructure.
