Democracy & Technology Blog Protectionist Irony Alert

A terrific young economist named Mike Darda notes a particular irony in the China money move:

“[P]rotectionists in Congress thought they could jawbone China into dramatically appreciating the Yuan against the dollar to the benefit of U.S. exporters and to the detriment of U.S. consumers and importers. Dropping the dollar peg at a time when the dollar is rallying accomplishes just the opposite.”

Bret Swanson

Bret Swanson is a Senior Fellow at Seattle's Discovery Institute, where he researches technology and economics and contributes to the Disco-Tech blog. He is currently writing a book on the abundance of the world economy, focusing on the Chinese boom and developing a new concept linking economics and information theory. Swanson writes frequently for the editorial page of The Wall Street Journal on topics ranging from broadband communications to monetary policy.