Tuesday, January 12, 2010
Risking a trade war with China
China and the U.S. may be so economically co-dependent -- the U.S. gobblement needs China keep financing its deficit and China needs U.S. consumers to keep buying its exports -- to keep financing that they will back off before it gets too serious, but the decision last September to impose a 35% tariff on cheap Chinese auto tires has begun a series of tit-for-tat petty restrictions by both countries, as this Register editorial outlines. It's all so foolish and childish. But then that's almost the definition of government.