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china-exportsLast month’s exports from China dropped by 17.5% from a year earlier.

This is frightening because it will put more pressure on China to keep the value of the Yuan as low as possible, in addition to lowering export tariffs and minimizing manufacturing costs. All that is well enough, but the western world–especially the US– is already hell-bent on protectionist policies, like mentioned here by Pat Buchanan. 

Active export promotion in China will fuel the protectionist fires even more. Then we really will be in this recession for a long time.

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