Reposted from The Washington Post
Matt Miller | July 26, 2012 | The Washington Post
Why did our leaders fail to act? The apologists say the geopolitical situation is too delicate for such hardball. We want China to take its place in the community of nations. We don’t want China to implode as it rockets from third world to first. Beijing needs to create zillions of jobs each year lest it face social instability. Let’s cut them some slack, we’re basically told.
Tim Geithner has occasionally jawboned China over currency values. Geithner also sent a strongly worded e-mail to the Brits onLibor rigging. We know how effective that was.
But the issue may finally be joined. On Monday, the latest step in China’s march to lock up global resource supplies came with state energy giant Cnooc’s record bid for Canadian producer Nexen (a deal U.S .regulators will have a role in reviewing). On Tuesday, Romney, who called China a currency manipulator early on, repeated the charge in his speech to the VFW. He plans on painting Obama as soft on Beijing.
Still, if Romney got rich at Bain in part by tapping China’s unfair advantages, how can he offer himself as the man who can bring China to heel?
Matt Miller, a co-host of public radio’s “Left, Right & Center,” writes a weekly online column for The Post. His e-mail address is email@example.com.