China puts US monetary policy under pressure

The Chinese economy has grown by 9.6 percent in the third quarter compared to the same period last year. The central Chinese bank has systematically devalued the Chinese yuan to boost exports. The old economic giant the US will be forced to adopt the same aggressive monetary policy, the conservative daily Dziennik Gazeta Prawna believes: "The US has proved powerless against the Chinese policy of keeping the yuan artificially low. Neither the lavish reception of the Chinese leaders in Washington nor the threats to penalise Chinese imports have helped matters. Beijing has emerged from the crisis as a global superpower which the US has little means of opposing. Now the White House will be forced to adopt the Chinese style of corporate policy ... . And this will produce the same result: The US brings the dollar down to an artificially low level and in doing so passes the economic problems onto others."

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