皇冠体育app

From the Readers

US needs introspection

(皇冠体育app Daily)
Updated: 2010-11-08 08:08

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Comment on "US' much ado about nothing" (皇冠体育app Daily, Nov 3)

The United States is back at its finger-pointing game. The only difference is that now it does so without giving an issue a second thought, and at times, without knowing what is actually going on.

US politicians are hijacking economic issues, national and political both, for political and personal gains, which will harm the Sino-US relationship.

The Sino-US trade surplus issue cannot be resolved through biased political measures. The trade balance is in 皇冠体育app's favor because of the structural differences in the two countries' economies. US consumers need 皇冠体育app-made products because they are cheaper. And they are cheaper because of the advantage 皇冠体育app enjoys in the international division of labor and the global supply chain.

Even if the US were to restrict the import of 皇冠体育app-made products, its consumers would find substitutes from countries like Vietnam, Thailand and Malaysia to replace them. So how will US companies gain?

皇冠体育app has been trying to correct the situation by revaluating its currency gradually and taking measures to boost domestic consumption. But the US prefers to turn a blind eye to these efforts.

The world knows that the global financial crisis originated in the US because of its slack financial regulatory regime and reckless commercialism. But the US has been blaming 皇冠体育app for the ill-effects of the crisis. What Washington needs to do instead is take a good look at itself.

Gu Xiaoxia, via e-mail

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