While campaigning in Virginia, Romney told the crowds that we need to stand up to China and their manipulation, stating that he "want[s] to make sure that if a nation cheats like China has cheated, we call them on the carpet and don't let it continue."
He also vowed to label China "a currency manipulator" on his first day in office if elected.
The Republican presidential candidate also released an ad Thursday blaming China for the loss of American jobs, CNN reported.
"Under Obama, we've lost over half a million manufacturing jobs," a narrator in the ad said. "And for the first time, China is beating us."
http://www.globalpost.com/...
It's pretty sad when your opponent doesn't even have to respond to your ad to gut it from tip to tail.
China's reponse? Well, see it for yourself:
Xinhua's English-language response to Romney's offensive attacked the businessman's former dealings with Bain capital.
"It is rather ironic that a considerable portion of this China-battering politician's wealth was actually obtained by doing business with Chinese companies before he entered politics," wrote Xinhua's Liu Chang.
Xinhua also warned of a potentially catastrophic "trade war" should Romney continue his "mud-slinging tactics."
http://www.globalpost.com/...
How stupid can Romney be to even speak of China, a country where he has piled a fortune by shipping our jobs overseas? The sheer irony of his statement is only surpassed by his hypocrisy in thinking that China wouldn't call him to the carpet on it.
The Chinese continued:
"All US politicians should be mindful that the task of maintaining a strong trade relationship is crucial not only to China, but also to the United States as well, especially in this time of global economic turbulence and uncertainty," wrote Chang.
However, as Foreign Policy argued, the Chinese "have become inured to such campaign talk from American politicians," and feel that such "China-bashing" is par for the course in the US election season.
The renminbi, China's currency, has appreciated about 30 percent against the US dollar over the past several years, though Beijing is still very involved in setting its value, the Los Angeles Times reported.
Several members of Congress have asked the US Treasury to label China a "currency manipulator," but it has not done so, prefering "quiet diplomacy" in negotiating with China to allow the market to be more influential in determining it's currency value, AFP reported.
"We know that the currency is still undervalued," said US Ambassador to China Gary Locke.
Even those in Washington who know that China is indeed manipulating currency, they have the good sense to know that you don't saber rattle with a country that owns our asses.