If China doesn't devalue the Yuan, Europe will shoot its economy ...
BBC News - Obama warns G20 leaders on budget cuts
... The governments of several large European countries, Germany and the United Kingdom among them, have recently outlined plans for spending cuts.
In comments apparently directed at China, Mr Obama also stressed the need for flexible exchange rates to ensure a balanced global economy.
If Europe shoots its economy, China will lose a big export market. So it's a credible threat, even if insane.
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