Fact: China’s growth rate for the third quarter and the current U.S. unemployment rate are the same — 9.1 percent.
Talk about a depressing and ironic figure!
According to the Wall Street Journal, there is a bill in the House that would the government to use trade laws and international agencies to punish China if it doesn’t allow its currency to strengthen substantially. Supporters of the bill say that China’s policy of managing the yuan’s value against the dollar is one of the cause of America’s unemployment.
There are not too many more details on that as of yet, but we’ll see what comes out of it.
What do you guys think about that number? Cosmic coincidence or something more?