China may avoid 'currency manipulator' label under conditions

There are reports that the U.S. government will postpone and perhaps cancel a planned classification of China as "currency manipulator" (Which China is of course, but not more than other governments, including the U.S.) in exchange for Chinese support for tougher sanctions on Iran. Britain, France and Russia already agree, so if the Chinese too agree to it, it can pass the UN Security Council.

Meanwhile, Iran's President Mahmoud Ahmadinejad tries to pretend that Iran won't be affected by sanctions:

"Faced with the prospect of new sanctions because of Iran’s nuclear defiance, Ahmadinejad said that such penalties would only strengthen his country’s technological advancement and help it to become more self-sufficient.

"Don’t imagine that you can stop Iran’s progress," Ahmadinejad said in remarks broadcast live on state television. "The more you reveal your animosity, the more it will increase our people’s motivation to double efforts for construction and progress of Iran.""

But if "self-sufficiency" would be so good, why not impose it yourself? Why not double those "efforts for construction and progress for Iran" without foreign inducement? After all, you can always copy the successful implementation of "self-sufficiency" of fellow pariah state North Korea.....

Add/view comments on this post.

------------------------------

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.