The next war will be a trade war:

In the news:

Bush Announces Steps to Increase Manufacturing Jobs

President Bush announced steps to help bring jobs to the nation's manufacturing industry today, beginning with what administration officials said would be increased pressure on China to change currency policies that U.S. businesses say hurt American exporters and give Chinese firms an unfair advantage.

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Snow urges the Chinese to let currency float

John Snow, US treasury secretary, on Monday urged China to abandon its fixed currency regime, arguing that a "functioning financial system is one based on flexible exchange rates".

In unexpectedly tough remarks on the eve of a visit to Beijing, Mr Snow said: "We want to be heard on the issue of flexible exchange rates so that American firms [are at] no disadvantage."

Could a 21^st version of Smoot-Hawley be next?

posted by Quiddity at 9/01/2003 03:40:00 PM