Small-Minded American vs. Small-Bodied Chinawoman!

Ever since people figured out that martial arts prowess would determine the fate of the world (or ever since those teenagers who always believed this grew up and took positions of influence) China has been a solid pick for at least one of the belligerents of World War III. Politic Blunder is proud to bring you the comically inept warm-up bout to the cataclysmic war, with this overblown tiff over currency.

US Secretary of the Treasury Timothy Geithner started the ruckus with his comment that China was manipulating its exchange rate to give itself a trade advantage. It is ostensibly doing so by pegging its currency to the dollar, a long-standing Chinese policy. China responded "tartly", according to the New York Times (Politic Blunder notes that the required expression of all Chinese government representatives is actually "obsequious menace"), stating that such an attitude could sour relations and revive trade protectionism.

This, of course, made the USA freak out. A fantastic article (here) on the Herald Tribune demonstrates the mixture of awe, hatred, and fear that permeates the way China is viewed by the country. Awe in that they care what a country actually thinks of them (There aren't many articles that amount to "USA worried that UK might not like it anymore"). Hatred in that American experts on China are claiming that China was sad to see Bush go since now China doesn't look like the good guy by comparison any more. Most importantly, fear, in that to finance its $825 billion plan for economic recovery, Obama will have to steam Hu Jintao's dumplings extensively, asking America's biggest creditor for yet more loans.

So what Timothy Geithner (pictured above with the man who will beat him harshly for his lack of wisdom) said was perhaps a bit hasty, especially since manipulating the currency supply and exchange rates are pretty basic tools to manage a country's economy. Note the USA's deliberate policy of devaluation over the past few years to promote its exports. 

All I'm saying is, when Bruce Lee (China), faced off with Chuck Norris (USA), in the Coliseum (global politics), Bruce Lee ended up getting a fistful of chest hair (American debt), and Chuck Norris got a faceful of fist (burgeoning Chinese political and economic clout). Look it up (here).