Paul Krugman advocates taking a strong stand against China's monetary policy that has long kept its currency artificially undervalued.
Taking on China quite paradoxically would also involve taking on the American consumer in some way. Or, the American consumer mindset.
China is almost single handedly responsible for the Wall mart economy that Americans are so in love with.
Putting surcharges on Chinese imports would raise the prices of all those 'toys' Americans love so much ... everything is Made in China, right? From children's toys to digicams to plasma TVs and much else ... perhaps, except cars and houses and fast food.
I wonder what the prophet of the 'flat world' would have to say about this punitive course of action ...