People’s Bank of China Deputy Governor Li Ruogu told the Financial Times: “China’s custom is that we never blame others for our own problem. . . . For the past 26 years, we never put pressure or problems on to the world. The U.S. has the reverse attitude. Whenever they have a problem, they blame others. Further, said Mr. Li, “The appreciation of the RMB will not solve the problems of unemployment in the U.S. because the cost of labor in China is only 3% that of U.S. labor. They should give up textiles, shoemaking, and even agriculture probably. They should concentrate on sectors like aerospace and then sell those things to us, and we would spend billions on this. We could easily balance the trade.”