Trade relations between the United States and China have deteriorated seriously as a result of China’s refusal to revalue its currency, the Renminbi (also known as the yuan), facilitating the flood of Chinese manufactured goods onto world markets, and China’s massive trade surplus with the rest of the world, including the US.The massive trade imbalances in the world have created huge trade surpluses, generating the capital flows which financed the junk-bonds boom whose collapse triggered the glo…
