AAM Statement on Conclusion of U.S.-China Strategic and Economic Dialogue

Posted by scapozzola on 05/25/2010

Brief Statement from Alliance for American Manufacturing (AAM) Executive Director Scott Paul on the U.S.-China Strategic and Economic Dialogue:   "While we know that the Obama Administration has raised the issue of China's undervalued Yuan with Beijing, we are disappointed and frustrated by the lack of progress on this issue.  Beijing must understand that there will be consequences unless it revalues its currency to a flexible exchange rate that reflects the market.   "It is imperative for Congress to pass legislation that will ensure a level playing field for America's workers and businesses.  We need to end China's currency manipulation sooner rather than later.  Nobel prize-winning economist Paul Krugman estimates that China's mercantilism will cost the U.S. 1.4 million jobs unless it is reversed.   "America's workers and businesses can compete on a level playing field, but we do not have one right now." Click here for 15 key U.S.-China trade facts.

1 comment

Khadgars wrote 4 years 14 weeks ago

Amen! I wish more people

Amen! I wish more people would wake up to these facts, and you are totally correct that American workers can compete with the best in the world when the playing field is even, but so many countries like China, S Korea, Japan, Taiwan all use their trade policies and monetary policies to give them huge advantages over the most wide open, free trading country in the world in the USA.

It's time we call the bs.

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