China’s decision to devalue its currency last week means that it has chosen to export its unemployment problem, rather than take the hard steps needed to restructure its domestic economy. Over the past decade, trade deficits caused by currency manipulation by about 20 mostly Asian countries, predominantly China, has eliminated between 2.3 million and 5.8…
The yuan halted a three-day slide after China’s central bank raised its reference rate for the first time since Tuesday’s devaluation and said it will intervene to prevent excessive swings. [Reposted from Bloomberg Business | August 13, 2015] The onshore spot rate rose 0.11 percent, strengthening in the final minutes of trading for the third…
A CPA member wrote to Cong. Susan Davis to ask her to oppose Fast Track Trade Promotion Authority. He received this note in response. Thank you for writing to me about your concemswith the Bipartisan Congressional Trade Priorities and Accountability Act (TPA) and the Trans Pacific Partnership (TPP). This is an incredibly important issue, and…
China is ruled by a party that calls itself Communist, but its economic reality is one of rapacious crony capitalism. And everyone has been assuming that the nation’s leaders are in on the joke, that they know better than to take their occasional socialist rhetoric seriously. [Reposted from The New York Times | Paul Krugman …
FOR IMMEDIATE RELEASE – August 12, 2015 Contact: Brandy Brown, Communications Director, 202-225-3161 REED BLASTS CHINESE GOVERNMENT FOR DEVALUING CURRENCY Continues Fight to Protect American Manufacturing Jobs [Reposted from the site of Rep. Tom Reed (NY 23) | August 12, 2015] Tom Reed is blasting the Chinese government for devaluing it currency, calling it a…
For Immediate Release August 13, 2015 Contact: Carolyn Bobb, 202-637-5018 China’s Currency Devaluation Deepens Unfair Trade Practices AFL-CIO President Richard Trumka made the following statement after China’s latest currency manipulation: [Reposted from AFL CIO site | August 13, 2015] China’s recent currency devaluation – by nearly 4% on Tuesday and Wednesday – provides further confirmation…
Australian Minister for Trade and Investment Andrew Robb is putting the onus on the United States, Mexico, Canada, and Japan to resolve amongst themselves disagreements over autos and dairy market access that he said have become the main stumbling blocks to a Trans-Pacific Partnership (TPP) deal, adding that once those are hammered out an agreement…
August 12, 2015Contact: Andrew Jerome, 202-314-3106[email protected] WASHINGTON (August 12, 2015) – National Farmers Union (NFU) President Roger Johnson today denounced the Chinese government’s recent decision to devalue its currency, an unfair move that hurts U.S. family farmers’ and ranchers’ ability to export goods to China. Johnson called for the administration to ensure currency…
Washington, D.C. – China has repeatedly manipulated its currency at the expense of American manufacturers and workers. In just three days, China’s government has wiped out four years of yuan appreciation. Said Alliance for American Manufacturing President Scott Paul: “China’s latest move is all too predictable and should come as a surprise to no one.…
There were two stories for why China allowed the value of its currency to fall beginning on Tuesday, one of which makes the government look shortsighted and the other farsighted: It is looking to boost its export sector to combat a weakening economy or it is trying to liberalize its financial system as it ascends…
