Spiegel has a thought-provoking article on what the US government can learn from China, in terms of fiscal and monetary policy:
(T)he embattled US president, Barack Obama, is continuing where his predecessor George W. Bush left off: complaining about the Chinese. Obama recently said China’s monetary policy was hurting the US job market. That strikes a chord with Americans. It’s even true. But it doesn’t make any difference.
The US is the world’s biggest debtor and therefore not in the best position to get its way with the People’s Republic of China. Of each dollar that Obama wants to spend in 2010, over 30 cents are borrowed. And a large part of the loan comes from China.
It might be smarter for the US to stop with the reproaches and to learn from the Chinese instead. When compared to the Americans, their financial situation is more than rosy. And their monetary policy is highly sophisticated.
Read the entire article for more on what America can learn from China. Hint: Saving money is good.