It's contradictary and it's Peter Morici again

Comments on Peter Morici “Choked by China”, 16/11/2009, http://www.businessspectator.com.au/bs.nsf/Article/US-dollar-Australian-dollar-yuan-China-pd20091116-XU56V?OpenDocument&src=sph

Peter Morici is blaming everyone else but the US itself for the its economic problems.

US had maintained the strong dollar policy for so long, now Peter Morici is saying the following:

"China amasses huge trade surpluses that power its impressive growth, and the rest of the world suffers slower growth to compensate. An economic miracle sold to the world as policy genius but really built on currency mercantilism and beggar-thy-neighbor protectionism.

Japan has propped up its economy by purchasing dollars and permitting private investors to borrow yen at near zero interest rates and trade those for dollars-denominated Treasury securities. Now, Tokyo signals it will not let the yen drop much below 90 per dollar when a market equilibrium value would be closer to 80.

Other Asian export powerhouses have practised variants of the Chinese and Japanese currency model too. It is no wonder the dollar was so strong for so long."

Can't you have the courage to look at yourselves for your problems?

Professor Peter Morici needs to be mature enough to be logical and rational in his argument.

No wonder that US has had trade deficit problems for so long, since it had so incompetent people, such as Professor Peter Morici as its chief economist in its International Trade Commission.