Isn’t curious how the so-called “free traders” fight like dogs to prevent the exchange rate of China’s currency, the Renminbi, from being set by market forces?
Have you seen the preposterous spectacle of holier-than-thou “free traders” such as Larry Kudlow arguing vigorously for the Chinese government’s right to set the value of the Renminbi by dictatorial edict?
Every intervention in the economy made by the US government is decried as pure evil. But the Chinese government’s daily intervention in the currency market is sacrosanct.
Any protectionist move made by the US Congress is an outrage, but China’s profoundly protectionist suppression of its currency is just fine.
Funny how that works, no?