Back pressure building on China

ARTICLE: China's Economic Power Unsettles the Neighbors, By MICHAEL WINES, New York Times, December 9, 2009

ARTICLE: Recession Elsewhere, but It's Booming in China, By KEITH BRADSHER, New York Times, December 9, 2009

Nice contrasting pair of articles that hover around the issue of China's continued pegging of its currency to the dollar: China booms and thus becomes key, near-term engine of global recovery, but it does so at the expense of neighbors (and the EU, as previously noted).

Honestly, this is why we don't need to organize some global coalition to hedge against China: as it loses its "developing" tag (as far as true developing economies are concerned), the back pressure will build naturally and on its own.