From USAToday:
“Americans are struggling to cope with the fall in today’s markets driven in part by China’s slowing economy and the fact that they actively manipulate their economy,” the Wisconsin governor said in a statement. “Rather than honoring Chinese President Xi Jinping with an official state visit next month, President Obama should focus on holding China accountable over its increasing attempts to undermine U.S. interests.”
Does this mean Governor Walker believes the Chinese aimed to undermine the US economy by deliberately engineering a stock market collapse? I guess if one believed Chinese policymakers were incredibly cunning and devious, this makes some sort of sense. Pursuing this thought, does this imply Governor Walker believes the US Government should force the Chinese government to reflate the Chinese stock market?
Here is Governor Walker in 2013, speaking about opportunities for Wisconsin-China relations:
“This [Wisconsin Center China] strengthens our relationship with China and provides Wisconsin businesses the resources and assistance to pursue export opportunities in this growing market,” Governor Walker said. “Through the years, Wisconsin has built a strong trade relationship with China, and the opening of the Wisconsin Center China will help Wisconsin businesses continue to strengthen our trade relationships and grow export opportunities.”
More on the implications of the Chinese slowdown soon, to follow up on Jim’s post yesterday.
Update, 7:30PM Pacific: Here is a post on the Chinese situation.
Trailing in the polls in Iowa (maybe voters there have caught some of the dissatisfaction of Wisconsin voters), Walker’s handlers feel he must say something to be in on this important news cycle. Maybe Iowa voters have heard from their neighbors about cutting funding for roads and education. These two things are pretty much at the core of a Midwestern voting and does not sit well with mainstream Midwestern values.
The U.S. stock market has been struggling all year, trying to build upon prior gains, and finally had a big correction.
If China’s economy falls into recession or collapses, it seems, we can expect the following:
1. Commodity prices will remain low or fall lower.
2. U.S. imports from China will be cheaper.
3. U.S. exports to China will have a small negative effect on U.S. GDP.
4. Rich Chinese communist elites may flee to Hawaii or California.
And, other emerging economies may slow.
I wouldnt worry too much about this. He will issue another statement in a few days totally contradicting this one.
It sounds like walker is running against Donald Trump for the Republican Presidential nomination.
Strange that in January and May of 2015, the Wisconsin Economic Development Corporation, of which Walker was CEO until July1st, sponsored two trade trips to China.
The WEDC promotional information regarding the trips didn’t mention anything about China’s role in undermining U.S. jobs, nor did it highlight any concerns that Walker had about currency manipulation. In fact, the promotional information stressed China’s growing importance to the State of Wisconsin’s economic well-being.
Maybe Scotty’s memory is just a bit hazy on this point.
They “actively manipulate their economy” ????
Oh horror of all horrors. Anybody doing that at the state or national level must be a horrible person!!!!