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Politics : Politics for Pros- moderated

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To: longnshort who wrote (405784)	1/21/2011 3:43:57 PM
From: Katelew	2 Recommendations Read Replies (2) of 794009

Generally speaking, every country tries to manipulate its currency. China's looking out for itself and trying to combat it's own inflation by maintaining a strong currency. To expect China to willingly hurt itself and the standard of living of its own people is asking for China to behave irrationally just to help us out. Thus I'm not too enamoured of the the currency manipulation complaints. The other complaints, though, about intellectual property right, patents, etc. are worthy, imo. I've read that Ambassador Jon Huntsman is making real progress on these issues. Many people don't realize that China came out of the Mao rule without a Western style body of law and court system. Ever since it has been trying to build a legal framework for itself that is rational, will stand the test of time, and will be able to adjudicate issues like patent law. I'm not trying to make excuses for China--just saying that this is a huge country that has modernized itself at a breakneck pace without a body of law in place. Historically, the usual pattern has been for a country's economy and it's rule of law to evolve more or less simultaneously.

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