Economist calls for President Obama to get tough on China

Posted by LDonia on 02/04/2014

Robert E. Scott, director of trade and manufacturing policy research at the Economic Policy Institute and friend of the Alliance for American Manufacturing (AAM), recently penned an op-ed in the Press of Atlantic City. In the column, Scott highlights the many benefits for American jobs and economic equality that a tougher trade stance toward China would create.

Says Scott:

Ending currency manipulation can reduce U.S. trade deficits by $200 billion to $500 billion, increasing production of U.S. goods and services and boosting Gross Domestic Product by 2 percent to 5 percent over the next two to three years.

This would create at least 2 million to 5 million new jobs, reducing the unemployment rate by 0.5 to 1.0 percentage points, or more. And this will bring real wage growth to millions of low- and middle-income working Americans, reducing inequality.

Obama can create jobs and reduce inequality by ending currency manipulation undertaken for commercial gain.

Read the rest of Scott's op-ed here.

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