A new Plaza Accord? China has been intransigent, resisting pressure for decades. Show resolve, skip consultation, and erect trade barriers. Protect our workers, our communities, our societies.
We need a new Plaza Accord, to revalue the yuan. China's exploding trade surplus hurts everyone else, but it ignores pleas to pivot from exports to consumption. A yuan revaluation, backed w/threat of tariffs, may be the only solution. My latest: