Despite Ron Paul and his compatriots, the US House has passed yet another predatory protectionist measure against China. Here is how the American Propaganda service puts it:
The House has approved legislation that would allow the U.S. to seek trade sanctions against China and other nations for manipulating their currency to gain trade advantages.
Translation: as the US massively depreciates its currency, in part to benefit its exporters, China has no business trying to protect its exporters. Now, both governments are running economically ridiculous anti-consumer trade policies, but the US empire, as God’s chosen vehicle for global rule, expects all to bow down before it. I do not know what the result of this latest outrage will be. Capo di tutti capi Bill Kristol and the other neocons want a new Cold War with China, facilitated by a trade war. Any rational person–and the neocons seem to all have a crazy gene–wants trade and peace with all. But this belligerent act, though the Senate may not go along, cannot, even so, be having a good effect. China is growing in prosperity while the US is declining. And our Keynesians are worse than their Keynesians. So it is not smart, even without the war wars that often follow in the wake of trade wars, for the US to exacerbate this trend.