Saturday, September 15, 2012

Mitt Romney China-Bashing Blasted As 'Ironic' By Country's Xinhua News Agency

Mitt Romney China-Bashing Blasted As 'Ironic' By Country's Xinhua News Agency

BEIJING, Sept 14 (Reuters) - U.S. Republican presidential candidate Mitt Romney's attacks on China and promise to name the country a currency manipulator if elected are foolish and hypocritical, China's official Xinhua news agency said on Friday.

In a strongly worded English-language commentary, Xinhua said Romney's anti-China rhetoric, if converted into policy upon him assuming office, would trigger a catastrophic trade war and damage the already weak global economic recovery.

"It is rather ironic that a considerable portion of this China-battering politician's wealth was actually obtained by doing business with Chinese companies before he entered politics," Xinhua wrote.

"Such blaming-China-on-everything remarks are as false as they are foolish, for it has never been a myth that pushing up the value of China's currency would be of little use to boost the chronically slack job market of the world's sole superpower, not to mention to magically turn the poor U.S. economic performance around."

Romney has repeatedly pledged to get tougher with China on its trade and currency practices, including pledging to quickly declare China a currency manipulator if elected.

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