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Democracy and Technology Blog Meanwhile, Schumer-Graham learn something…

As Chinese computers come under fire here in the U.S., Sens. Chuck Schumer and Lindsey Graham are in China eating some crow (sub. req.). Suggesting that maybe their blunt approach of a 27.5 percent tariff on China is less than optimal, Graham says, “I am more sensitive now than I was before to how hard it will be to move toward a floating currency,” and Schumer offers, “We are more optimistic that this can be worked out than we were in the past. But whether it will be, we’re not certain yet.”
When you consider how easy it was for two Senators with no economic knowledge and who had never set foot in China to gain so much traction with such a potentially disastrous proposal, you cringe. Then again, maybe reason is finally coming to the fore and we should just be thankful.
-Bret Swanson

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.