Now its Blame Shifting

Bernanke to Address China’s Currency Policy - NYTimes.com
WASHINGTON — Ben S. Bernanke, the Federal Reserve chairman, plans to argue Friday that currency undervaluation by China and other emerging markets is at the root of “persistent imbalances” in trade that “represent a growing financial and economic risk.”
Ok now this is blame shifting. China and the rest of "us" emerging markets are not after screwing the US, we are taking a really bad hit when the US one of our KEY markets loses buying power.

China needs the US, it won't be voluntarily bringing it down, especially when they have so much debt that may go bad if the US gets worse. Although Asking for an arm and a leg from China and all the other emerging market countries is not only a slap in the face for a team players but hypocritical when each economies is only expected to look out for number 1.

This kind of blame throwing basically makes it harder for China and other countries to HELP out. If they help out then they admit at being at Fault.

Its a group prisoners dillema, look to each of his own, expecting otherwise is just being an ass (and covering it).


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