Academic

CHINA BUSTS U.S. FOR SOCIALISM. And fiscal irresponsibility. Cui Tiankai, a deputy foreign minis?

By Glenn Reynolds

CHINA BUSTS U.S. FOR SOCIALISM. And fiscal irresponsibility.

Cui Tiankai, a deputy foreign minister and one of China?s lead negotiators at the G20, said on Friday that the US plan for limiting current account surpluses and deficits to 4 per cent of gross domestic product harked back ?to the days of planned economies?.

?We believe a discussion about a current account target misses the whole point,? he added, in the first official comment by a senior Chinese official on the subject. ?If you look at the global economy, there are many issues that merit more attention ? for example, the question of quantitative easing.?

Ouch.

Full post as published by Instapundit.com on November 06, 2010 (boomark / email).