A New U.S. Strategy in the Global Economy? | OurFuture.org
Rated • 1 review • business, politics, failure, deregulation • ourfuture.org
From the page: "America's banker isn't happy.
At the World Trade Organization, China's representatives call on the U.S. to halt the decline of the dollar that has contributed to the rising price of food and oil (and racked up staggering losses in the value to China's $1.5 trillion in dollar reserves). China's leaders blame Washington's "warped conception" of market deregulation for the financial crisis that is rattling the world economy. Liu Mingkang, the chairman of the China Banking Regulatory Commission, scorned distorted US policies: "Does moneymaking or doing business justify the regulators in ignoring their duty for prudential supervision and their job of preventing misbehavior?"
Perfect. The Bush administration is so lame, it is getting lectures from the communist governors of China on how best to regulate the market."
