CHART OF THE DAY: A Quick Reminder Of Why Frustration With China Is So Enormous

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Societe Generale’s Albert Edwards suggests the U.S. public is on the brink of revolt.

Why? The trade relationship with China.

The U.S. has never had a larger trade deficit with China, and it looks set to continue to expand unless the country revalues the yuan.

That doesn’t look likely, according to Edwards, because China believes a 20% increase in the yuan’s value will crush Chinese companies and jobs.

Essentially, China is exporting its unemployment and civil unrest to the U.S. and raking in the dollars.

chart of the day, us china trade balance, oct 2010

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