After all this time China is still manipulating its currency, the Obama administration is still not able to get them to change, their exports are still rising relative to the rest of the world, global imbalances are still bubbling out of control, jobs are still being lost, and the Senate is getting ready to force the situation to change. more »
The US-China Strategic and Economic Dialogue has concluded. It is remarkable for two countries to engage in a dialog such as this, and efforts like this to constructively manage differences can both help keep conflict from arising and help both countries achieve economic success. Bravo! more »
Is China's industrial policy a "bigger" concern than their currency manipulation? That depends on what you think the meaning of "is" is. But China's currency manipulation and trade barriers are against trade rules, while having an industrial policy is just smart. A national industrial policy helps a country's businesses to be more competitive in the world economy. more »
This morning I watched a live webcast of a Senate hearing, titled, Senate Banking Subcommittee on Economic Policy to Examine Effect of China Currency Practices on American Manufacturing. more »
Finance officials from the G20 countries are meeting for three days beginning tomorrow. China's currency manipulation is one of the top items on the agenda because it is hurting the entire world, not just the United States. The currency is undervalued by as much as 40%, and small, incremental adjustments more »
While publicly saying that China is manipulating its currency -- a very big deal -- Treasury Secretary Geithner announced over the weekend the administration is getting around the problem of an April 15 deadline for declaring that China is a currency manipulator by ... pushing back the deadline. more »
As the manufacturing infrastructure of suppliers, technology knowledge, etc., moves to China, dependence follows. China appears to be ready to answer, "So what are you going to do about it?"
I've been focusing on the Chinese currency manipulation problem because the Obama administration is supposed to make its twice-a-year declaration on this on April 15. But even if this problem is addressed as it needs to be, keep in mind that it is just one piece of the larger problem of Chinese trade policies. more »
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