Krugman At His Best Today

[Yavin4]

Globalization is nothing more than currency manipulation, esp. China and India's manipulation. American multi-nationals want China's currency de-valued so that they have an enormous pool of cheap labor to send mfg jobs off to. They want to make products cheap in China and sell them at marked up prices here in the U.S. In essence, they are creating global economic imbalances which is at the heart of why our economy is so stagnant.

The answer is strong tarriffs against China or at least the threat of them in order for them to appreciate their currency against the dollar. Alas, don't hold your breath waiting for that to happen. Those same American multi-nationals own our congress lock, stock, and barrel. There will be no such discussion of tarriffs while the whores still write policy.

http://www.nytimes.com/2010/09/13/opinion/13krugman.html?hp