China has every right to cheat, but shouldn?t
By David Pilling
Published: October 27 2010
Everybody from Lou Dobbs to Paul Krugman is beating up on China. China, we are told, is cheating. It is cheating by making it harder for western companies to invest there and for stealing their technology when they do. It is cheating by directing cheap credit to favoured industries. It is cheating by allowing companies that operate in China to pay their workers less and pollute more. Above all, it is cheating by manipulating its currency, suppressing the value of the renminbi to make its exports super-competitive.
One possible response to this line of argument is: why shouldn?t China cheat? After all, everybody else did.
Click Here to read the the entire article at the Financial Times.