{"id":691809,"date":"2010-03-15T17:32:49","date_gmt":"2010-03-15T21:32:49","guid":{"rendered":"http:\/\/www.businessinsider.com\/the-standoff-with-china-is-the-real-problem-being-created-by-the-jobless-recovery-2010-3"},"modified":"2026-10-04T11:27:36","modified_gmt":"2026-10-04T15:27:36","slug":"the-standoff-with-china-is-the-real-problem-being-created-by-the-jobless-recovery","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/691809","title":{"rendered":"The Standoff With China Is The Real Problem Being Created By The Jobless Recovery"},"content":{"rendered":"

\"Barack<\/p>\n

Earlier we mentioned the possibility that the combination of higher capacity utilization and still-high unemployment would put Ben Bernanke into an uncomfortable position of having, possibly to raise rates before he was ready.<\/p>\n

But it’s become evident that the real problem is the way the lack of employment has pushed folks in the US to push Obama towards a currency confrontation with China.<\/p>\n

Schumer and Krugman are both pushing hard for one, and more are on the way.<\/p>\n

Geithner and Obama don’t want to have to do this, and know that the result of such unilateralism will be damaging.<\/p>\n

But, if pressured hard from the left, Obama will be left with little choice but to offend his counterparts in Beijing.<\/p>\n

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