China Needs to Stop Crying and Start Acting Like Adults

In an interview on FOX Business Network [FBN], Senator Charles Grassley tells Brian Sullivan and Dagen McDowell that China needs to “stop crying and start acting like adults.” Grassley also comments on the pending health care bill.

Here are some excerpts from the interview : Courtesy of Fox Business Network

On China needing to grow up:

“I’m tired of China crying. We’re a 400 old society here in the US, they are a 5000 year old society. They are very mature, they are members of the UN, of the WTO, they are in the world community of nations, I expect China to start acting like adults instead of crying like children.”

On urging the President to label China as a currency manipulator:

“We don’t have to vote to do that…I have in the past and I would again urge the President to label China as a currency manipulator. I think we’ve talked too long.”

On what the next steps need to be with China:

“I would say three things. First of all, next month when the report is issued, our government has to label China as a currency manipulator. After doing that, I would want the President to order our trade representative, Ambassador Kirk, to start preparing a case for the WTO. And then I would have to start looking at some legislation, that if China does not respond appropriately, look at some for introduction, and it would probably be somewhat different than legislation I introduced before, but still WTO compliant.”

On China buying our debt because it’s a good investment:

“Look at trade as one thing, and trade being follow the rule of law and the WTO guidelines. And then when you look at China or any other countries, wants to buy our debt, we put it out to the world every Tuesday I believe at 10 o’clock, to refinance and finance our debt, and the market is going to determine who buys it and what interest rates. We don’t go to China on our hands on knees saying will you please buy our debt. We are in terrible trouble here. They buy it because it’s considered a good investment”

On the pending healthcare bill:

“We ought to have the 72 hours that the President has promised us to read the bill. And they we’re entitled to a score from the CBO before anything’s done. At that point, I can answer your question on what’s in the bill, but I can answer you this, it’s basically the Senate bill that was passed before Christmas.”