From the TUC

Will the cuts be over-shadowed by foreign affairs?

10 Oct 2010, by Guest in International

It is very widely assumed that the cuts will be the issue that makes the political weather for the lifetime of this Parliament.  But could this be overlooking one of the other major effects of the Crash ?  The FT is reporting tonight that an intensification of the current “currency war ” looks likely as a meeting of the IMF ended with a sharp exchange of words between the US and China rather than any steps towards agreement on how to defuse the dispute over the value of the Renminbi.

As I’ve pointed out before, this sort of post-crisis tension, should worry us all.  It should also leave us wondering whether the biggest political debate of coming months and years might not be austerity (or at least, not austerity alone) but how the UK should react to a round of competitive devaluations and, more widely, how it should respond to the rise of China.  It might be wise for Labour to start considering its response now.

2 Responses to Will the cuts be over-shadowed by foreign affairs?

  1. Tweets that mention Will the cuts be over-shadowed by foreign affairs? | ToUChstone blog: A public policy blog from the TUC — Topsy.com
    Oct 11th 2010, 9:06 am

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  2. Samurai R3
    Oct 15th 2010, 3:35 am

    The FACT that happened near Senkaku Islands

    (The ship of the Japan Coast Guard stopped a suspicious ship of China that had invaded the Japanese territorial waters on Sept.7,2010. )

    The Japan Coast Guard ship brought alongside to a Chinese ship. The staff of the Japan Coast Guard boarded it. Afterwards, the Chinese ship suddenly left the sea route.
    One left staff of the Japan Coast Guard was kicked by Chinese crew. He fell into the water from a Chinese ship.To crush the staff who had fallen into the sea, the Chinese ship changed the course.The staff swam desperately to run away. Chinese crew tried to stab him to death with the harpoon. The Japan Coast Guard ship stopped to rescue the staff and the rescue was started. Chinese ship approached from the rear side. The staff was almost crushed. The staff managed to be carried up from the back to the Japan Coast Guard ship. The Chinese ship collided with the back of the Japanese ship after a few seconds. The hull of a Japanese ship damaged seriously.
    All parties concerned who had seen the video said that this was an attempted murder.