BEIJING Republican presidential candidate Mitt Romney's tough talk on China has got the hackles up of authorities in Beijing.
Romney on Thursday released a new ad on manufacturing jobs that hit out at President Barack Obama for his stance on China, describing it as devastating to the American manufacturing sector.
"Under Obama, we've lost over half a million manufacturing jobs," a narrator in the ad says. "And for the first time, China is beating us."
The ad shows data of China becoming the world's top manufacturing country in 2011, which that narrator says is a result of Obama's refusal to "stop China's cheating."
While campaigning in Virginia, Romney went further: "The president has had the chance year after year to label China a currency manipulator, but he hasn't done so. I will label China the currency manipulator they are on the first day."
The state-run Xinhua news agency responded Friday with a commentary calling Romney's remarks "as false as they are foolish" and said that it is "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."
The editorial warned that if Romney's "mud-slinging tactics were to become U.S. government policies, a trade war would be very likely to break out between the world's top two economies, which would be catastrophic enough to both sides and the already groaning global economy."
"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."
Responding to the Romney ad, Obama campaign spokeswoman Lis Smith said in a statement: "President Obama has always stood up for American workers, regardless of politics. He's filed seven trade complaints against China, bringing cases at twice the rate of the Bush Administration."
"The job losses that his new ad references occurred in the first months after the President took office," Smith said. "Now, American manufacturers have added half a million jobs since January 2010 the fastest manufacturing job growth since the 1990s."
President Barack Obama has accused Romney, who founded and led private equity firm Bain Capital, of outsourcing jobs to both India and China.
The state-run Xinhua said such China-bashing had been "a cancer in U.S. electoral politics, seriously plaguing the relations between the two countries.
"It has also become a handy tool for U.S. politicians who try to court the votes and support of ill-informed voters by ratcheting up antagonistic sentiment towards China, while truly serious social and economic woes within the United States have been left unfixed."
The United States should "put its own fiscal house back in order, substantially slash its tremendous military expenditure, and optimize its economic structure", it added.
"It is advisable that politicians, including Romney, should abandon ... short-sighted China-bashing tricks and adopt at least a little bit of statesmanship on China-U.S. ties."
Source: http://www.britainnews.net/index.php?sid/209193861/scat/b8de8e630faf3631
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