exports from ingraham - 1AC 1AC Trade Recent controversy...

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1AC Trade Recent controversy over currency manipulation has reignited US-China trade tensions Pennington 15 Matthew, AP, US News, 8/13/15, "US lawmakers criticize China on currency depreciation, reviving old source of tension" - china-on-currency-drop?page=2 WASHINGTON – U.S. have been quick to condemn the sudden drop in the value of Chinese currency as damaging for American businesses and workers, reviving an issue that was once one of the biggest sources of tension between the two world powers . Yet the initial response from the Obama administration officials has been mild, even positive. They say Beijing has indicated it is taking steps toward market-determined exchange rate — something that even China's biggest critics in Washington have been demanding for years. While China's currency policy has been a perennial sore spot in the relationship, it has dropped in the pecking order of priority concerns during President Barack Obama's tenure, as the yuan has appreciated significantly against the U.S. dollar since 2010. China's territorial ambitions in the seas of East Asia and alleged cyber spying on a massive scale against U.S. government and businesses are likely to dominate the agenda when Chinese President Xi Jinping makes his first state visit to the United States in September. But a continued drop in the value of the yuan against the dollar could become an issue of growing contention and give ammunition to critics of China and fuel long-running resentment over the trade imbalance between the U.S. and Asia's largest economy, which totaled $343.1 billion last year. "The key thing will be, does the currency begin to move in a variety of directions and show market-oriented volatility? If it does, that will undercut arguments that this is a one-way move to promote exports and manipulate the currency ," said Scott Kennedy, director of Project on Chinese Business and Political Economy at the Center for Strategic and International Studies think tank. "That will make things easier when Xi Jinping visits," Kennedy said. But he added that if the yuan drops considerably more and it leads to a big increase in Chinese exports, "then it will give genuine ammunition and justification for those who are critical." The initial reaction from U.S. lawmakers to the depreciation, particularly Democrats, has been swift and negative. The yuan's 1.9 percent devaluation Tuesday against the U.S. dollar was its biggest one-day fall in a decade. It dropped another 1.6 percent on Wednesday. Chinese Economic collapse is inevitable now due to structural failures – US economic leadership is key to trigger a global shift towards economic liberalization. Paulson and Banerji 15 Hank Paulson, Paulson Institute Chairman and former US Secretary of the Treasury, conversation with Aspen Institute President and CEO Walter Isaacson, article by Sarah Banerji, Development and Communications Intern at The Aspen Institute, "Hank Paulson on
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