Daily Reckoning

An informative, easy to read economics blog, Daily Reckoning.

DUMB AND DUMBER
By Justice Litle

Last week, improved trade numbers gave hope that the
protectionist crowd might back off a bit. No such luck.

Since last week's figures, Washington has turned up the
heat even further. On Friday, "safeguards" were imposed on
Chinese textile imports (trousers, shirts, underwear).

On Tuesday, the Treasury Department, as part of a biannual
report to Congress, threatened to accuse China of
manipulating its currency if the yuan is not allowed to
rise. The Financial Times notes that Beijing has been "put
on notice," and the Treasury Department expects a
revaluation "within six months." continue reading