A thoughtful analysis of the Chinese currency conundrum.

The Times gets it wrong: Ending currency manipulation would reduce U.S. trade deficits and create jobs

 

An op-ed published in The New York Times last week (August 23) claimed that revaluation of the Chinese yuan would "make barely a dent in America's trade deficit." This ludicrous assertion flies in the face of basic economic theory and our own economic history. The U.S. trade deficit with China displaced 2.4 million U.S. jobs between 2001 and 2008 alone. Treasury Secretary Geithner should identify China as a currency manipulator, and Congress should pass legislation that would authorize the president to impose substantial tariffs on Chinese goods if they fail to substantially revalue the yuan by the end of 2010.

 

Click here for the whole article.

 

 

 

Did Obama's Tire Tariffs Work?

Nearly one year ago, President Obama invoked a trade law known as “421” for the first and only time in the decade the law has been in effect and imposed tariffs on some automobile tire imports from China, which have been surging into the United States from 2004 to 2008.

 

See this post at the MANUFACTURE THIS Blog of the Alliance for American Manufacturing for the full story.