Mar

24

US China Spat Over Currency

March 24, 2006 |

A great quote from Stephen Roach, chief economist for the investment bank Morgan Stanley, on a proposed senate bill that will impose a 27.5 per cent tariff on all Chinese exports to America.

“At a time when the US is more dependent on foreign capital than ever before, to impose tariffs not just on a major provider of goods but a major lender of capital I think would be close to economic suicide.”


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