China Currency Showdown

As many as 3 million jobs are being lost as a result of China's unfair trade practices, including currency policies that make Chinese goods sold here artificially cheap and U.S. goods sold in China more expensive. The posts on this page will help you understand and communicate the connection between China's currency practices and unemployment here at home.


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G-20 Standing Up To China, Now It’s Your Turn

By Dave Johnson
March 31, 2010

As the manufacturing infrastructure of suppliers, technology knowledge, etc., moves to China, dependence follows. China appears to be ready to answer, "So what are you going to do about it?"

The world is starting to realize this. Financial Times, yesterday, China reprimanded by G20 leaders more »

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Chinese Currency Manipulation Is Just One Piece

By Dave Johnson
March 30, 2010

I've been focusing on the Chinese currency manipulation problem because the Obama administration is supposed to make its twice-a-year declaration on this on April 15. But even if this problem is addressed as it needs to be, keep in mind that it is just one piece of the larger problem of Chinese trade policies. more »

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Even Chinese Officials Understand -- Their Currency Must Rise

By Dave Johnson
March 26, 2010

When a policy is just wrong it's just wrong. more »

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Pressure Rises For China Currency Fix -- Yesterday Chinese CEOs, Today Chinese Economists

By Dave Johnson
March 25, 2010

Yesterday I wrote about Chinese CEOs calling for China to bring its currency up to market rates. Today Chinese economists are joining the call. more »

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Even Chinese CEOS Call For Chinese Currency Fix

By Dave Johnson
March 24, 2010

The pressure from the huge Chinese currency imbalance shows up in surprising places. Even Chinese CEOs are calling for China to increase the value of its currency to market rates.

China CEOs Join Obama in Supporting Yuan Appreciation more »

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Why China's Currency Matters To American Jobs

By Isaiah J. Poole
March 24, 2010

Here are some basic facts you should know about the China currency dispute and how progressive experts say the United States should respond.

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Find Out How MANY Jobs Have Been Lost To China Where YOU Live

By Dave Johnson
March 23, 2010

Everyone knows that we have lost a lot of jobs to China since 2001. Now you can find out exactly how many, and where. more »

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Chinese Currency Manipulation: "Not A Small Issue"

By Dave Johnson
March 17, 2010

The Chinese currency manipulation issue continues to make news.

Economist Paul Krugman lays out the stakes,

China is in effect imposing an anti-stimulus of that magnitude — which plausibly means 1.5 percent of GDP. This is not a small issue.

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Momentum Building for Action on China Currency Manipulation

From blog.aflcio.org
March 16th, 2010

blog.aflcio.org — The momentum is building for the United States to take strong action to counteract manipulation of its currency by China’s government.

More than 130 members of Congress signed on to a letter from Reps. Mike Michaud (D-Maine) and Tim Ryan (D-Ohio) delivered today that urges Treasury Secretary Timothy Geithner and Commerce Secretary Gary Locke to take strong action up to and including countervailing duties (CVD) or tariffs because of currency manipulation.

Michaud and Ryan’s letter is the latest in growing calls by Congress and by top economists for the United States to act on the manipulation of currency by China’s government. If Geithner does act, the administration could impose remedies, such as tariffs, to create a fairer trade balance with China.

AFL-CIO President Richard Trumka, who co-chairs the Fair Currency Coalition, thanked Michaud and Ryan for their letter:

The working families of this country need jobs now. If we want a recovery that will invest in manufacturing, boost exports, balance trade, and create jobs we must stop China and other countries from illegally manipulating their currency. China’s prolonged undervaluation…is an illegal export subsidy. That is why the U.S. government must allow CVD cases to proceed. American workers expect their government to stand up for them.

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Chinese Currency Showdown

By Dave Johnson
March 15, 2010

China is holding down the value of its currency, which means goods made there cost less everywhere else. This undercuts American companies that make things, so they close factories here and buy from there. This costs us jobs, forces down our wages and savings rate, and forces the country to borrow heavily. This imbalance has built up to a breaking point. more »

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