Looting China

August 10th, 2006 at 09:18 Björn Hallberg

U.S. Treasury Secretary Henry M. Paulson Jr. now faces the daunting task of convincing the Chinese that it is in their own best interest to allow American transnationals to loot their country as they have so many others. Not to mention continuing to finance the ailing U.S. empire AND cut back their exports.

“Treasury Secretary Henry M. Paulson Jr. has spent his first weeks in office seeking to assert control within the administration over international economic issues, focusing in particular on developing a new plan to confront China’s growing economic clout, administration officials say,” the New York Times will report on Thursday.

“Hoping to put his stamp on one of the most pressing issues he faces, Mr. Paulson plans a new drive to press Beijing to open its financial systems, stimulate consumer demand and let the value of its currency rise to reduce exports,” Steven R. Weisman writes for the Times.

Entry 615 filed under: Asia. This entry was posted 2 years, 1 month ago. RSS feed for comments on this post.