Larry Kudlow is among the sharpest business comentators on the planet. Here he writes in NRO on the growing mess in China, and how we are contributing to it:

Why is the U.S. threatening economic warfare against China? Currency protection and trade protection not only blunt economic growth, they sour international political relations. If you add in the vexing problem of nuclear proliferation in North Korean and the historic ill-feelings between China and Japan, you’ve got a real geopolitical and economic mess brewing in northeast Asia. With no apparent solution in sight.

I have long held that revaluation of the Yuan would be counterproductive. It will slow growth in China, hurting investors in the rest of the world. Further, the advantages gained by certain sectors from higher-priced Chinese goods will be far outweighed by higher costs for consumers.

Hat Tip: InstaPundit (much more here)