US must get tough on China to fix imbalances, says Aliber
The high level of US unemployment and a significant part of the US fiscal deficit are a result of the country's "passivity" in trade relations with China and other emerging market nations. These countries have adopted "predatory trading and currency policies" by maintaining high levels of tariffs and low values for their currencies, according to Robert Aliber, retired professor of international economics and finance at the University of Chicago.
Aliber says many economists including Paul Krugman
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