Will_China_Listen - Will China Listen Published The...

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Will China Listen? Published: March 16, 2010 The drumbeat of complaints in Washington about China’s manipulation of its currency — and the deafening silence pretty much everywhere else — might lead one to think that this is just an American problem. It isn’t. China’s decision to base its economic growth on exporting deliberately undervalued goods is threatening economies around the world. It is fueling huge trade deficits in the United States and Europe. Even worse, it is crowding out exports from other developing countries, threatening their hopes of recovery. After treading lightly on the subject of China, President Obama vowed last month to “get much tougher” about China’s cheap currency. On Monday, 130 members of Congress sent a letter to Treasury Secretary Timothy Geithner, demanding that the Obama administration designate China as a currency manipulator in a report due to Congress next month. On Tuesday, a bipartisan group of senators introduced a bill aimed to force the administration’s hand. This would ease the way to imposing retaliatory trade barriers against Chinese goods. So far, China has been defiant. On Sunday, after the close of the annual National People’s
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This note was uploaded on 05/07/2011 for the course BUS 1302 taught by Professor Falcon during the Spring '11 term at University of Texas at Dallas, Richardson.

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Will_China_Listen - Will China Listen Published The...

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