Desktop Stock Ticker | China Retaliates: Ministry Of Commerce Says US Should Not Seek To Boost Exports By Forcing Others To Appreciate Their Currencies

China Retaliates: Ministry Of Commerce Says US Should Not Seek To Boost Exports By Forcing Others To Appreciate Their Currencies

Well that didn’t take long. China just escalated the verbal quarrel with D.C. by retaliating right back. The Chinese Ministry of Commerce stated earlier that the "US should not seek to boost its exports by forcing other countries to appreciate their currencies." The spokesman for the Chinese Ministry of Commerce Yao Jian also told reporters that the US shouldn’t be seeking to "develop its own economy" by forcing other countries to strengthen their currencies. We are holding out breath to see what China’s reaction is when Geithner forwards them the petition signed by 130 very much erudite congressmen demanding that  Beijing float the CNY immediately (or else America will be more than happy to live with a 7% 30 year mortgage).<a href="http://www.istock tickeranalyst.com/article/viewarticle/articleid/3949963″>[More...]

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