Washington wants China to adjust the value of its currency so its exports become less competitive. If China exports less, however, it will earn fewer dollars that it can lend the U.S. to cover our huge federal deficits. What’s wrong with this picture?
Inscrutable
Trade Policies
Mr. Han, I have a plan
I’m sure you’ll think is swell;
I’ll make your goods more pricey
So they won’t sell quite so well.
In discount and department stores
More price means fewer takers,
So shoppers will buy stuff produced
By home-grown product makers.
But while I’m taking these harsh steps
To make your biz less sunny,
Don’t take it hard, I’m still our pal,
Keep lending me your money.
*******
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