China: Tom Friedman Confesses

In a recent interview with The Daily Ticker touting his most recent book, Thomas Friedman admits to deliberately exaggerating his characterizations of China’s economy in order to “light a fire” under his own complacent country, a claim that we’re willing to take at face value.

We’ll simply point out that with all eyes on Europe and the U.S., the likelihood of a financial crisis emanating from China seems to be woefully underappreciated at the moment, even though credit and equity markets are flashing the warning signs loud and clear.

Between that and the U.S. Congress threatening legislative retaliation against the country’s currency peg, China is in a very precarious position at the moment.

What this ultimately leads to is anyone’s guess, but it’s a risk we’ve been pointing to since at least August (savvier analysts have been pointing out the China-related risks since 2009).

Full interview here: http://finance.yahoo.com/blogs/daily-ticker/tom-friedman-china-currency-manipulation-good-bad-america-133027114.html

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