Monday's final campaign debate focuses on foreign policy. Will it focus on our policy of running huge trade deficits with China? Every dollar of trade deficits makes our country a dollar poorer. That trade deficit is the deficit that our Washington elites should be worried about.
Yesterday in Ohio candidate Mitt Romney said he would clamp down on China's currency manipulation. Today he is still not asking the House Republicans to bring the China currency bill up for a vote. Mr. Romney has the opportunity to demonstrate leadership and put his actions where his campaign words are -- or not. more »
The fight to get China to stop their currency manipulation is heating up. China keeps its currency very low, giving their goods a huge price advantage even before all their other trade manipulations come into play. This costs us jobs, factories, companies and entire industries. Now the Congress is taking steps to force them to stop. more »
President Lyndon Johnson is said to have commented that the press is like birds sitting on a telephone line. When one flies away, they all fly away. more »
A new example today of the consensus that has formed on confronting China's trade practices: At the America’s Fiscal Choices conference today economists Paul Krugman, Martin Feldstein and Jan Hatzius all agreed on the need for the dollar to fall. more »
In the day-to-day news about trade problems with China the bigger picture can get lost. America is giving up its competitive position in industries of the present and future and it is costing us. more »
The House Ways and Means Committee just approved a bill that pushes China to raise the value of its currency. It looks like the bill will go to a vote on the House floor next week. This is a very big deal because it is a "second front" pushing China to bring its currency to market rates. more »
As President Obama meets with Chinese Premier Wen, the House Ways and Means Committee announces it will vote tomorrow on a bill to take action if China does not bring its currency to market rates. This sends a loud and clear signal to China that action is coming, one way or another, and they are going to have to make adjustments. more »
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