Dangerous New Phase of Financial Crisis (4)

From the official designation of China as a currency manipulator, it is but a short step to actually blaming China for the whole financial crisis, as the Washington Post does in an article entitled "An OPEC Lesson for China".

When I heard about the article, I thought it had to be satirical. I thought you would have to be joking to assert that it was the Chinese who did this to us, forcing cheap money on American financial institutions to on-lend to subprime borrowers who couldn't pay back. But apparently they're serious. Expect to hear more of this, as well as outraged push-back from the Chinese whose narrative is that it is American dissipation and profligacy that is responsible for the economic mess of the entire world.