Could it be part of a greater geopolitical game? In other words, what President Bush is really worried about in Asia is North Korea. He does not really care about the RMB; he just pretends to care. This allows him, in negotiations with the Chinese, to say: "I will fold on the RMB, if you give North Korea up; in that way, you guys can give up your embarrassing ally without losing face".
North Korea IS China. Its possible that we might have just sold Manhatten for some beads.
