Yuan not to blame for trade gap with US

China’s rising inflation is partly rooted in the rapid monetary expansion of the United States, and the real concerns for the US economy are its lack of competitiveness and trade deficits and not of the China factor, US economists said on Wednesday.

“The reason Americans can live beyond their means is that the Chinese are living beneath their means,” said Peter Schiff, president and chief global strategist at Euro Pacific Capital, at a seminar held by the Council on Foreign Relations in New York.

Read more at Yuan not to blame for trade gap with US

Advertisements

Leave a comment

Filed under chinese culture

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s