Reason: China is pursuing merchantilist schemes, and they need to quit this behaviour sooner or later. Let's not forget, one of the reasons of the 2008 crisis was global imbalances that led some countries pile huge reserves, and investing these reserves in USA, basically showering US with money. You can have the best regulation in the world, but if someone is throwing money at you like crazy, in the receiving end someone will find a loophole to make use of this money -- in the case of 2008, mortgage based securities were that target. Export oriented countries typically have underdeveloped financial systems (their domestic spending, services sectors take backseat, everything they do is for exports), they could make use of this money at home.
This needs to change.
For this reason, I support QE; it will force China to change.
There are some good points in this Peter Tasker article.
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