So where are we at with China?
In the New York Times today, correspondent Sewell Chan reports that the Obama Administration is "stiffening its approach toward Beijing." Apparently, the Administration hopes to build a coalition that can "present Chinese leaders with a unified front on thorny issues" such as currency undervaluation.
Such a proactive, group approach is commendable. To date, Beijing has been intransigent, operating out of self-interest. But a multilateral display of diplomatic force might actually make a dent.
And if that approach fails, the House recently passed legislation on currency. A strong legislative response from both the House and Senate is clearly in order...
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