The Obama administration appears to have backed off from pressuring China to revalue its currency, for now, likely in exchange for diplomatic concessions including helping to pressure Iran on nukes. Chinese currency revaluation is about jobs, because currently China enjoys a competitive head start of up to 40% lower prices because they are keeping their currency too low. 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 »
With pressure building on the administration to tell the truth on China’s currency manipulation, and a report required by law on April 15, the Chinese government demonstrated just how sophisticated it is about playing U.S. politics. more »
America and China share a terrible delusion. They are in denial about currency manipulation. Both officially state that China is not devaluing its currency.
America is in the post-health care reform political environment now. The top-of-mind concern for voters of all political stripes is still the economy. Underpinning this concern is a real sense of fear and uncertainty about our nation’s future: where our children will find jobs, how we will pay off our public and private debt, and what external threats we will face in the years to come. more »
The debate over what to do about Chinese government currency manipulation often hinges on whether you're being talked to as a consumer or a worker. Most likely, you're both--or were, or are planning to be--and you know that if you want to boost your standard of living, you have to either buy cheaper or earn more. more »
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