Democrats blame China, not Wall Street

The bill that was poised for passage in the US Senate Thursday with bipartisan support, mandating a US currency war with China, is a cynical diversion. Amid a rising tide of protest directed against Wall Street, the Democrats are taking the lead in an effort to provide a foreign scapegoat for the crisis of American capitalism.

The White House, together with much of corporate America, sees the value in using anti-China demagogy to divert popular anger over the economic crisis away from Wall Street and towards a foreign scapegoat.

Finally, even if such legislation were to be adopted, trade war with China would do nothing to reverse the decline of American manufacturing and the living standards of American workers, which is the product of the global crisis of the capitalist system, not the policies of a single country. The shock effects on the world economy would actually destroy jobs, not create them.

Even more dangerously, such an action would be a dramatic step towards outright military conflict with China, a rising military as well as economic power, which represents a threat to the longstanding domination of American imperialism in the Asian-Pacific region. www.wsws.org/articles/2011/oct2011/pers-o07.shtml

Senate delays vote on China yuan bill to next week

(Reuters) - The Senate on Thursday delayed a vote on a bill to get tough with China over its currency practices until next week because of a dispute between Republicans and Democrats over the handling of amendments.uk.reuters.com/article/2011/10/07/us-usa-china-senate-idUKTRE79602O20111007

Western anger over thwarted Syria plans

If Syria falls to what is obviously another "color" revolution the much anticipated war with Iran will be on!

Western countries have sharply criticized Russia and China for vetoing a UN Security Council resolution against Syria’s ruling regime. They promised to impose more sanctions against Syria, declaring the veto will not stop them.
­Britain’s Foreign Secretary William Hague has called Russia’s and China’s decision to veto “deeply mistaken and regrettable.” Speaking to the Conservative party conference in Manchester, he assured that they will “redouble” their “efforts to work with other nations to increase the pressure on the regime “wherever they can.”
Turkey’s Prime Minister Recep Tayyip Erdogan said that Turkey and other nations would press ahead with sanctions.  http://rt.com/news/syria-west-anger-russia-129/

China: US currency bill would have repercussions

BEIJING (AP) — China stepped up its criticism Tuesday of a proposed U.S. law to punish countries with artificially low currencies, saying there would be serious repercussions for the world's two biggest economies if it is passed.  http://news.yahoo.com/china-us-currency-bill-repercussions-090135830.html

China, Russia uphold peaceful approach by vetoing Syria draft resolution

by Gu Zhenqiu
UNITED NATIONS, Oct. 4 (Xinhua) -- Russia and China on Tuesday vetoed a UN draft resolution on Syria, in their efforts to uphold the principle of non-interference and maintain peace and stability in the Middle East. http://news.xinhuanet.com/english2010/indepth/2011-10/05/c_131175590.htm

China to launch "Heavenly Palace" on way to space

(Reuters) - China will next week launch an experimental craft paving the way for its first space station, an official said on Tuesday, bringing the growing Asian power closer to matching the United States and Russia with a long-term manned outpost in space.http://uk.reuters.com/article/2011/09/20/us-china-space-launch-idUKTRE78J0RM20110920

How can China break US dollar's dominance?

With the internationalization of the RMB progressing on schedule, it is predicted that at least 40 percent of the trade volume of 2015, or about 100 million U.S. dollars, between China and Africa, which is equal to the total trade volume of 2010 between China and Africa, will be settled with RMB, according to the lasted research report issued in the beginning of September by the largest bank of Africa Standard Bank Group. http://english.peopledaily.com.cn/90780/7600231.html