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 »
Chinese Premier Wen Jiabao will be in New York this week to attend the United Nations General Assembly. Reuters reports that Press Secretary Gibbs said in the White House briefing today that the President will meet with him tomorrow and will bring up the problem of China's manipulation of currency. more »
Since China joined the World Trade Organization (WTO) our country's balance of trade has gotten worse and worse and we have lost jobs and jobs (and money and money). Between 2001 and 2008 we lost 2.4 million jobs just to China. more »
Charlie Brown (us) has again run up to kick the football. Lucy (China) has again pulled the football away at the last minute. The result? The trade gap continues to grow and tis eats away at our jobs and our GDP: "...the worsening trade deficit cut the Q2 GDP growth rate by -2.8%." more »
Over the weekend the San Jose News carried a story, Made in China, bought in China — for more, describing some of the barriers Chinese consumers face when buying goods made by non-Chinese companies -- even if the goods are made in China, more »
Call Congress and demand action on Chinese currency. Visit www.metalworkingadvocate.org/action. Call 202-224-3121. China has up to a 40% pricing advantage resulting from currency manipulation and a lot of good jobs are riding on doing something about this. more »
Treasury Secretary Geithner delayed a required April 15 declaration that China is manipulating its currency, saying it will instead be taken up by the G20. China has now warned other G20 countries that the G20 meeting in Toronto next week is not the appropriate place to discuss their currency manipulation, saying that would be "finger-pointing." more »
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