How to stop Chinese Currency Manipulation

After reading Prof. Krugman's blog posts I am convinced that we need to at least try and go after the Chinese! No this isn't Smoot-Hawley. China exports a whole lot to us while we import very little back in comparison. What we need to do is to call them on it. By many estimates we can create about 1 million jobs according to data compiled by Krugman from various sources. That is not going to by itself solve our unemployment problems but it will be a huge step in the right direction. I also think that we always underestimate how much of an effect China has had on our economy. This is way I glean this retaliation will work.

1. We make announcements both privately first and then publicly that we are going to take serious actions against China if they don't revalue their currency upwards immediately or move to a floating currency where the market/supply-demand determines rates.

2. We start a public campaign by aligning patriotism to our cause. Patriotism might be the last refuge of cowards but the Iraq war has me convinced that it is really effective and we don't use it enough and let others use it against us way too easily. This will be easy because of the situation with unemployment and the negative racist attitudes already prevalent in our country.

3. If this doesn't scare the Chinese then we move to phase 2. In this phase we actually put pressure on the administration to refute the many factual reports that China manipulates our currency. We get the Unions involved. We get the unemployed organized and do a couple of marches holding anti-Chinese slogans. Send CNN and Fox 'tips'. Make the Fox network people believe this is related in some way to the Tea Party movement. That should get us enough coverage.

4. If the phase 2 escalation doesn't work. We move on to the final phase, phase 3. We start a boycott of Made in China goods. Join up with buy locally movements and push to use no China products like all Green products movement. I think it will work! Don't you?

Or not!

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