Wednesday, March 29, 2006

extra! extra!

From Harper's, a politician speaks the truth:
A group of U.S. senators visited China to push for an increased valuation of the yuan; without such a change the Senate plans to vote for tariffs on Chinese imports. "We would like to get an idea from our Chinese hosts," said Senator Charles Schumer (D., N.Y.), "what the future is going to be like."
One wonders what Schumer intended, but for whatever reason, he admitted something that most Americans would not care to admit. If they knew. Namely, our economic fate is largely in the hands of the Chinese. Of course it needn't be that way, but I don't see the current administration changing its ways.