Currency manipulation is a global problem
With the addition of Japan to the Trans Pacific Partnership (TPP), currency manipulation is at the forefront of trade negotiations. Several lawmakers, namely U.S. Representative Sandy Levin (D-MI), have called for a currency manipulation clause to be added to the TPP in order to protect American companies and jobs.
It’s not just American companies and jobs that are affected by Japan or China’s currency manipulation—European companies and jobs are affected too and not only by Japan and China.
There are several perpetrators in the currency war. Jerry Jasinowski, former president of the National Association of Manufacturers explains:
China is the major offender, but there are others, including other Asian nations, several oil exporters and even a couple of European nations. Altogether, the manipulators account for almost one third of the world economy and more than two thirds of global current account surpluses.
These manipulators distort financial markets across the global economy proving that currency manipulation claims many victims.
As the currency war continues, the U.S. needs to challenge ALL of the manipulators.
Read more about currency manipulation.
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