China Warns Economic Retaliation Against U.S.

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China is not happy with the U.S., because of its recent arms sales to Taiwan and some high-level Chinese military officers want to try something different to punish America.

"Our retaliation should not be restricted to merely military matters, and we should adopt a strategic package of counter-punches covering politics, military affairs, diplomacy and economics to treat both the symptoms and root cause of this disease," said Luo Yuan, a researcher at the Academy of Military Sciences. "Just like two people rowing a boat, if the United States first throws the strokes into chaos, then so must we."

Luo said Beijing could "attack by oblique means and stealthy feints" to make its point in Washington.

They are suggesting that Beijing sell some of its U.S. Treasury securities. That could drive down the value of those securities and cause some concern in the international markets. But it would also hurt the value of China's own investments in the U.S.

So far there is no evidence China plans to actually sell the American bonds. But similar ideas have floated in recent months.

Source: Reuters

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