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Romney and China

Business Times - 03 Dec 2011


Romney's dangerous anti-China rhetoric

Accusing Beijing of manipulating its currency and stealing US jobs is not based on any sound economic policy and everything to do with electoral politics

By LEON HADAR
WASHINGTON CORRESPONDENT

AS the US presidential and congressional election campaigns are getting started, no one should be surprised that both Democrats and Republicans have been doing a lot of China-bashing. After all, the economically distressed American voter is in a very angry mood, blaming the Wall Street elites and the Washington bureaucrats for the nation's economic mess, and ready to listen to a populist message that fuses nationalism, xenophobia and protectionism. And according to recent opinion polls, a majority of Americans believe that China is intent on - and will succeed in - supplanting the US as the world's leading economic and geopolitical power.

In this political environment, scapegoating China for destroying US manufacturing an…