Global Investor William Hess Why Paulson Will Hit A Wall
Global Investor William Hess: Why Paulson Will Hit a Wall We have a pretty good idea what Paulson wants: a looser yuan, trade access and IP protection. But Beijing is not in a position to give. During the recent u.s. congressional campaign, Democrats indulged in a degree of China-bashing, and won as outsiders. Ironically, though, the neo-mercantilism articulated by many of the Democratic candidates is similar to elements of the agenda–including a tacit weak-dollar policy and the threat of trade sanctions–that Treasury Secretary Henry Paulson will take with him to Beijing this week....