Today on Canada's Business Report...Pushing China's Button

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Today on Canada's Business Report...Pushing China's Button
TORONTO, June 24 /CNW/ - Today's edition of Canada's Business Report is
told that U.S. politicians - who are pushing for trade tariffs on China - are
playing a dangerous game that could backfire.
CBR host Robert Graham speaks with Andrew Pyle, vice-president/head of
capital markets research at Scotiabank, about the growing cry for Washington
to take off the gloves in the push to get China to revalue its currency and
end what many believe are unfair trade practices.
Pyle tells Canada's Business Report, the Americans better tread
carefully. He says: "China is sitting on a massive amount of U.S. debt and
when we look at the deficits that are being run-up in the United States, a lot
of those bonds, a lot of that debt, has been bought by Asian investors. The
last thing the U.S. would want is for China to retaliate in terms of
off-loading some of that debt, which would force up U.S. interest rates and
hurt the housing market and U.S. consumers in general."


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This debate got rather hot between congressmen and administration!!!