Wednesday, October 24, 2012

China: Unfair bashing


Scapegoating China for U.S. domestic woes unwise

By Xinhua writer Wang Aihua

BEIJING, Oct. 24 (Xinhua) -- During the latest U.S. presidential election debate, both candidates have voiced willingness to collaborate with China but at the same time blamed the country for America's domestic woes.

The candidates, Democrat Barack Obama and his Republican challenger Mitt Romney, should realize that simply blaming China will not do -- only by working on the origins of America's downward economic situation can they really solve domestic problems such as unemployment.

Two main accusations the U.S. presidential candidates, in particular Mitt Romney, have been filing against China is that the country has "stolen" American jobs by absorbing U.S. capital and that it has "manipulated" its currency, the yuan, to keep the exchange rate at a lower level and retain competitiveness in exports.

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