China's economic 'bargaining chip'

With all these experts, tens of millions dollars on research, and the best brains in the most powerful country in the world, the only conclusion that everyone and anyone with IQ more than zero should agree: "Stop living beyond our means", and there are no solutions for "have the cake and eat it too". "Stop binge drinking" is absolutely the only solution 100% under the control of the US. Would drunks stop the binge drinking? Would real or imaginary "threats" be sufficient to stop the drinking? Would a drunk be able to do a "Suez Canal" on China? What happened to the Roman Empire? How many people on the street know about this "mother" of all "problems"? Have we been teaching our kids virtues other than democracy? Is democracy the panacea of all ills of society? Can a highrise be built on democracy foundation only and nothing else? Should there be "bedrock" or "solid soil" for the foundation to rested on? I don't need to read Mr. Sumnar's book.

nor do I need to read any of these million dollar research papers. PS: My apology for miss-spelling Mr. Summers name.

Article does not address a couple of things. A country doesn't export for the sake of exporting. The goal of exporting is to import, not to accumulate a soon to be worthless collection of IOU's. Yes, the Chinese would take a hit when the dollar inevitably crashes. But the Chinese would simply just consume the goods they produce themselves when they let the yuan appreciate. The idea that the Chinese need to prop up our currency because it gives them jobs is a bunch of nonsense. This is best presented by Peter Schiff and I advise the author and anyone reading this article to pick up his book "Crash Proof".