China's Xi Jinping Wields the Communist Hammer

In a desperate attempt to slow the rise of the Chinese currency, known as the yuan, the Treasury Department website reported on January 15th that Chinese holdings of U.S. Treasuries securities increased $12.2 billion for the month of November to an all-time record of $1.317 trillion. Many Americans are misled into thinking that China holding 7.5% of U.S. debt is a sign of the country's economic strength. It is rather the Communist Party's attempt to devalue the exchange rate of the "yuan" currency, whose 21.5% rise since 2010 has hammered the competitiveness of Chinese manufacturers. As jobs are relocating back to America to gain access to cheap energy, China is threatened with mass unemployment and a spectacular banking crisis. With the nation in turmoil, China's new President Xi Jinping is now wielding the communist hammer on China. When the Soviet Union collapsed in the early 1990s, China's communist economy imploded as inflation skyrocketed from 10% to 25%. The United States,...(Read Full Article)

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