President Obama recently shifted authority for approving sales to China of missile and space technology from the White House to the Commerce Department -- a move critics say will loosen export controls and potentially benefit Chinese missile development.
The president issued a little-noticed "presidential determination" Sept. 29 that delegated authority for determining whether missile and space exports should be approved for China to Commerce Secretary Gary Locke.
One has to wonder what the "quid pro quo" here was.
China has been very nervous recently about its dollar holdings, and given the current sorry state of US currency, who can blame them?
Was this move made to cause them not to dump dollar holdings in the short term?