Confessions of a Hoosier Democrat

Blogging Indiana Politics and the 2008 Presidential Race.

Thursday, May 11, 2006

Bayh and China... part deux

Last November the Treasury Department warned China that they didn't meet the technical definition of a currency manipulator, but if they didn't shape up and make some changes they would next go around...

Well 6 months later and what has China done? Not a whole lot. But rather than piss China off for screwing us over... the Treasury Department again declined to add China to the list of currency manipulators. If they say that China has made "far too little progress", why don't they do something rather than just shaking their finger at them and telling them to shape up. It's like when I tell my 8yr old to clean her room and she doesn't. What am I going to do, ground her or just sigh and say that I hope she does it next time?

Sen Bayh picked up on this again and came out swinging... From Bloomberg:
Evan Bayh, Democratic Senator from Indiana, said Treasury's report ``flies in the face of the reality experienced by workers and businesses'' and accused the administration of being soft on China because it's the second-biggest holder of U.S. debt.


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