"A drop in a huge bucket."

Posted by scapozzola on 06/29/2010

  U.S. Senator Sherrod Brown (D-OH) has written an excellent piece on China's recent head fake regarding its ongoing currency manipulation.  For those of you who missed it, Beijing recently offered a few promising statements ahead of the G-20, in which they suggested they would start to "gradually" adjust their undervalued currency.  After a few incrementals nudges, however, they've slipped back to business as usual--a preferential exchange rate that helps boost their exports. In response, Sen. Brown has taken Beijing to task, saying, "We’ve seen China take actions like this before when the spotlight is on, and then revert back to old tricks."  He calls China's recent, miniscule currency adjustments a "drop in a huge bucket":
"Too many Ohio manufacturers continue to face unfair competition from China and congressional action is long overdue. I will continue to work with Senators Schumer and Graham to move our legislation which cracks down on Chinese currency manipulation."
Read more.

Related recent Blogs

@KeepitMadeinUSA on Twitter

  • The U.S. might be a "rising star" in manufacturing, but there's still a lot of work left: http://t.co/b6c8JbKyEX 16 hours 42 min ago
  • If the United States wants to maintain its "rising star" manufacturing status, it must do a few key things: http://t.co/yVBTFyywYF 19 hours 50 min ago
  • That's right: the U.S. is a "rising star" in manufacturing. But there's more to do to increase our competitiveness: http://t.co/yVBTFyywYF 21 hours 5 min ago
  • .@BCGPerspectives says the United States is among the "rising stars" in global manufacturing. Here's our take: http://t.co/yVBTFyywYF 21 hours 49 min ago
  • Great @AP Q&A w/ @papergirlmacy on Factory Man: "When I write about economics, I write from the ground up." http://t.co/WSVs14gt2N 22 hours 35 min ago
  • RT @RachelBSAAM: If you're attending the #NCSLSummit stop by booth 940 for a one of a kind @KeepitMadeinUSA root beer opener. http://t.co/Q… 23 hours 2 min ago
  • "China is among several economies whose manufacturing price advantage over the U.S. is eroding..." http://t.co/BWfE2tsk7l 23 hours 9 min ago
  • But we also hear Titan Gilroy will be grand marshal at the MAVTV 500 IndyCar World Championship next weekend! http://t.co/EXu7cRLieL 23 hours 15 min ago
  • Titan Gilroy is bringing the #MadeinAmerica message to @MAVTV this fall: http://t.co/9hLE5Hko72 23 hours 16 min ago
  • Back to School Shopping? Be sure to check out our #MadeinYourCity Back to School Guide: http://t.co/daOUtQmAqK 1 day 20 hours ago