Can the results of the U.S. midterm elections be credibly traced to the Obama Administration’s policy of blaming the yuan’s peg to the dollar for America’s fiscal woes? According to this editorial from Hong Kong’s Beijing-friendly Wen Wei Po, if President Obama had focused his attention on improving the competitiveness of U.S. companies and removing trade barriers with China [read loosen U.S. restrictions on the sale of weapons], the elections may not have gone the way that they have.
The Wen Wei Po editorial says in part:
In China, it’s a sensitive issue whenever the U.S. holds an election. Since taking office, Obama has blamed U.S. trade and unemployment problems on how the yuan is pegged to the dollar. This is an attempt to divert public attention and shift the blame for a sluggish economy to China. But to accelerate U.S. economic growth and create employment opportunities, the key is to change its protectionist trade policies and enhance the competitiveness of U.S. companies.
Instead of starting to improve the economy at home, Obama sought to benefit by suppressing China, and of course the results have been just the opposite. After the midterm elections, Democrats and Republicans should recognize the importance of Sino-U.S. relations, not only in economics and trade, but in diplomacy as well. It is important to maintain stable, rational and pragmatic development of Sino-U.S. relations.
READ ON AT WORLDMEETS.US, your most trusted translator and aggregator of foreign news and views about our nation.
Founder and Managing Editor of Worldmeets.US