Jeff Sommer, In Currency Games, the Prize May Be a Trade War. New York Times
, Apr. 11, 2010.
http://www.nytimes.com/2010/04/11/business/global/11mark.html?scp=1&sq=china%20%22trade%20war%22&st=cse
(1) Quote:
"But an increase [of 3% for renminbi] that modest is unlikely to satisfy the
growing number of members of Congress who are demanding that China hike the
value of the renminbi by 25 to 40 percent against the dollar
"China could stop buying Treasuries, for example. Even hinting that it is
doing so might drive up yields and drive down prices, and deliver a blow to
an already fragile American economy. This would hurt China, too, of course,
because the value of its own assets would fall and one of its main markets
would be damaged — and the fallout could spread elsewhere.
Renminbi appreciation of 5 percent over the next year "impl[ies] that the
currency dispute could flare up as the November elections approach,
especially if unemployment remains high."
(2) Note:
keep your powder dry
http://www.phrases.org.uk/meanings/217500.html
* "The Cromwellian conquest of Ireland (1649-53) refers to the re-conquest
of Ireland by the forces of the English Parliament, led by Oliver Cromwell."
http://en.wikipedia.org/wiki/Cromwellian_conquest_of_Ireland