It’s not just the U.S. that believes China’s yuan is pegged artificially low. The EU is also complaining at the current EU-China summit, asking them to let the yuan appreciate 20-40% in value.
China’s reply? Get stuffed.
That’s not the only China-EU news this week. China is also buying up Greek assets at the same time they’re dumping U.S. assets.
Let that sink in for a moment. As The Motley Fool’s Christopher Barker put it, “China may consider Greece a safer bet than the United States.”
If Obama Administration officials weren’t worried about our unsustainable budget deficits before (and every indication is they weren’t), now would be an excellent time to start…
