Clever, those Chinese. Now they get to keep their currency down to support their exports while claiming they are acting altruistically to support Obama.
Fortunately for us this keeps the imports flowing our way and supports our standard of living.
I don’t think we did this by design, but instead it falls under better lucky than good.
China to Keep Buying Treasuries, Top Official Says
by Dune Lawrence and Kevin Hamlin
Mar 23 (Bloomberg) — China’s top foreign-exchange official said the nation will keep buying Treasuries and endorsed the dollar’s global role, supporting the U.S. as the Obama administration increases spending to revive growth.
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