On a trip to China in 2009, Obama raised issues around “massive trade imbalances” and “China’s currency manipulation and other unfair practices” during a meeting with Wen Jiabao, then China’s premier. Photo: Xinhua
* Former US president Barack Obama explains that he was ‘hamstrung’ on dealing with China’s trade policies by global economic meltdown
* Obama says he ‘had to make sure we did not start a trade war that tipped the world into a depression’, on the back of the global financial crisis of 2008-09
Former US president Barack Obama has said he would have pushed China “much harder” on trade issues if it was not for the global financial crisis of 2008-09.
China’s role in the global economic recovery from the crisis, caused in large part by defaults on subprime mortgages in the United States, “hamstrung” his ability to tackle China’s “mercantilist policies that violated international trade rules”, Obama said in remarks made to the The Atlantic, which expanded on similar themes in his new book, A Promised Land.
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WNU Editor: China was not hamstrung by the 2008 financial crisis. IMHO that was the time to put maximum pressure to put pressure on China to change its trade/intellectual theft/ currency manipulation policies.
4 comments:
Obama broke cover like a scared rabbit.
To date the received wisdom form the intelligentsia was that Trump's Trade war was stupid.
Now Obama has said he would have done the right thing except for excuses.
This statement by Barack is nothing more than an insurance policy. If there is an economic reset forced by the WEC and others. The US will not be a reserve currency. There will be high inflation in the US. People will look askance at the huge trade deficits and latch onto it. Then they will question why American leaders allowed it from Bill Clinton to Barack. Trade imbalances are too simple and too etched into people's minds for the Maters of the Universe to spin. They might as well try to spin a black hl;e.
So Maybe Barack is trying to get ahead of it come January or February.
PS: If there is the Great Reset does Barack have to pick whether he keeps gives up the Hawaiian beach front mansion built on sacred ground or the Marthas Vinyard seal level mansion?
And will he cry real tears?
loser^^^
I didn't vote for him. Never even considered it.
Fred posted at 2:52
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