How much will taxpayers shoulder?

[Zenda]

It's odd how you and Kandrathe can agree, when you refer to Paulson to proof your point while Kandrathe claims that this same Paulson is in denial. One of you must be reading things wrong.

...summary of what Paulson presented to congress earlier in the year.

Your link appears to be the former Treasury Department report and it doesn't say things much differently as in the most recent one. That's also what Reuters said:

"However, the Treasury's conclusion that China is not manipulating its currency 'is hardly a bombshell' given that is what it has found repeatedly, an aide to Senate Finance Committee Chairman Max Baucus, a Montana Democrat, said."

The purpose of the report is determine if US trading partners are undermining trade competitiveness. The conclusion is that there are none doing so.

"This report reviews developments in international economic and exchange rate policies, focusing on the second half of 2007,1 and is required under the Omnibus Trade and Competitiveness Act of 1988 (the 'Act')."

"In conclusion, Treasury has not found that either China or any other major trading partner of the United States met the requirements for designation under Section 3004 of the Act during the reporting period, July 2007 – December 2007."

The rest is recommendations for improvement, as in the last report. You can insist that they left out accusations for diplomatic reasons as much as you like, but the fact remains those accusations are not in the report.

Or, if you'd rather a vociferous condemnation, you could always go to the US-China Economic and Security Review Commission, who just straight up accuse China of currency manipulation.

So you finally found a document that somewhat supports your claim. I do wonder why this general thread assessment report is more reliable as the previous sources, in your view. I suppose you also agree with statements like the following?

"China is aggressively pursuing cyber warfare capabilities that may provide it with an asymmetric advantage against the United States. In a conflict situation, this advantage would reduce current U.S. conventional military dominance."

So the Chinese plan to use the Internet to combat the USA. They should stick with normal warfare ofcourse, because that's the kind of war the USA can win (or at least they think they can).

"The U.S.’ ability to promote its foreign policies around the world and to protect its interests may be challenged by rising Chinese influence."

Ofcourse, only the USA is allowed to protect its interests.