DeLorenzo On Fair Trade
A quote pulled from AutoExtremist. Taken from Peter DeLorenzo's column "Rants" in this weeks latest issue on the year in review.
"'Fair Trade? We don't need no stinkin' fair trade!' In a nationally televised speech to a conference organized by Fortune magazine, China President Hu Jintao insisted that China's growth would create "win-win results" for other economies. Right. Not that anyone believed a word of it, of course - as the Chinese government continues to look the other way as the copying of all goods continues unabated at a break neck pace. Add to this the fact that China's trading partners say the yuan is undervalued by 40 percent, giving Chinese exporters a decidedly unfair advantage. This story will get worse before it gets better, we're afraid."
HT: AutoExtremist - "Rants" by Peter DeLorenzo