Hypocrisy in Congress: Member of Congress criticizes Obama on China's currency, hasn't co-sponsored legislation to address it.
As Cameron Joseph reports in The Hill today, Rep. Mario Diaz-Balart (R-FL) has criticized President Obama for not taking a harder line on China:
"One of the things to me that is really frustrating is President Obama's refusal to address the Chinese currency manipulation issue," he said, and argued that Obama "has been much better at creating jobs in communist China" than in the United States.
The Alliance for American Manufacturing (AAM) agrees with Rep. Diaz-Balart that China's undervalued currency is a serious problem for U.S. manufacturers and their workers. AAM believes it's important to take a strong stance on China's continued undervaluation of its currency.
Surprisingly, Rep. Diaz-Balart has not signed on as a co-sponsor of House legislation (H.R.639, "The Currency Reform for Fair Trade Act"), which would address China's currency manipulation. 62 other House Republicans have already signed on as co-sponsors of the bill. A bipartisan Senate majority passed similar legislation last fall.
It would be terrific if Rep. Diaz-Balart followed through on his rhetoric and co-sponsored this important legislation.
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