Yuan revaluation for US jobs? (#111; Topic B)

So, three distinguished US senators are in China, ostensibly on a "fact-finding mission." One, talking to students and faculty at Qinghua University, was more interested in proselyting than in talking business. Bravely, he revealed that "a man by the name of Jesus" was his model of leadership. Wow. Invoking an illiterate preacher who called his own mother "that woman" as his model of leadership? To an audience for whom paying respect to the parents is paramount? In a land where Confucius is one of her native sons? Bravo. No wonder he was rebuffed by a 21-year-old student: "In China, we promote harmony"-- harmony being one of Confucius's core teachings. Another senator, who modestly called himself a "hometown boy" though instrumental in derailing the Dubai port deal (and, earlier, a CNOOC bid for Unical), stated unequivocally that nothing would suit him better than forcing China to revalue her currency, the Yuan, by 40%. But his threat to impose a 27.5% tax on Chinese imports (such a vote has been scheduled in the senate for March 31, if China fails to comply), does not seem to have gained the support of the business community -- leading business press such as the Wall Street Journal and the Investor's Business Daily has greeted this mission with silence. The third senator, who openly attacked China for "illegal currency manipulation," appeared to have been counterattacked -- by the US media, such as CNBC. With Wal-Mart's announcing a 6-fold increase in employment in China; with similar ambitious expansion programs by Starbuck, Yum!, Dell, and others; and with China being touted as the most promising venue for growth, who needs protectionism.
Posted at 11:40 pm, Thursday, March 23, 2006