Congress confronts Unfair chinese trade practices

Cypress

Well-known member
Congress confronts Unfair chinese trade practices - I wonder why it took until 2007, for congress to start dealing with this? I'm sure it has nothing to do with the change in the congressional majority party

Panel Hopes To Prod ChinaStep Up Currency Reform, Senators Say

By DAVID LIGHTMAN * Washington Bureau Chief
August 2, 2007

WASHINGTON - The Senate Banking Committee on Wednesday defied the Bush administration and voted overwhelmingly to give U.S. officials new weapons to pressure China to change its currency policies.

The panel voted 17-4 to allow the Treasury Department to send a strong message to China and to the White House that the current pace of China's currency reform is unacceptable.

"A change in our currency manipulation policy is long overdue," said committee Chairman Christopher J. Dodd, D-Conn.

Dodd contended that although the U.S. "stands to benefit greatly from China's booming economy and growth ... the current conditions of this relationship are hurtful to the U.S., not helpful."

Dodd got important bipartisan support, notably from Sen. Richard C. Shelby, R-Ala., the committee's top Republican.

"For too long, American workers and businesses have suffered because China manipulates its currency to gain an unfair trade advantage," Shelby said.

The bill, which the Senate is expected to take up after it returns from an August recess, would allow the Treasury Department to assess whether a country has manipulated its currency even if officials cannot prove that was the country's intention.
snip

U.S. lawmakers and the business community have been concerned for some time that China is manipulating exchange rates. By keeping the yuan undervalued, the argument goes, China has an advantage in international trading.

http://www.courant.com/business/hc-currency0802.artaug02,0,5206215.story
 
Congress confronts Unfair chinese trade practices - I wonder why it took until 2007, for congress to start dealing with this? I'm sure it has nothing to do with the change in the congressional majority party

China's been an issue for Congress since way back when. Where are you getting the idea that China was not discussed the past years in Congress? Do you think the "wingnuts" just came up with today the idea to argue for China to revalue its currency?
 
I would be deeply impressed if they can get China to quit pegging their currency to the dollar. If it appears about to happen, buy Chinese equities... cause they would soar. Their currency is probably about 15-20% undervalued right now. (relative to the dollar)

It will be interesting to see how this plays out.
 
China's been an issue for Congress since way back when. Where are you getting the idea that China was not discussed the past years in Congress? Do you think the "wingnuts" just came up with today the idea to argue for China to revalue its currency?

True... but they would be able to send "a strong message". :D
 
Just grandstanding , I don't expect anything meaningful to come from this posturing.

Oh my Lord "I feel the big one" - Fred Sanford

Instead of trying to make a usual partisan post you are stated how it really is.

"I'm coming to visit you Elizabeth".
 
Oh my Lord "I feel the big one" - Fred Sanford

Instead of trying to make a usual partisan post you are stated how it really is.

"I'm coming to visit you Elizabeth".

That is how you feel when the reality of the situation agrees with your political viepoint :)
 
why do you not see this on the Sudan thread ?

The US can decide to limit imports from China, perhaps starting with lead painted toys? It would never have been in our interests to invade Sudan unilaterally, with or without Iraq.
 
That is how you feel when the reality of the situation agrees with your political viepoint :)

The Democrats are doing the same thing the Republicans did when they held power, trying to talk tough about China while doing nothing.

Cypress made it a partisan comment. My expectation was you would follow whether Cypress was right or wrong. I was in shock.

Not a nice way to give a compliment on my part but that's how I did it.
 
China's been an issue for Congress since way back when. Where are you getting the idea that China was not discussed the past years in Congress? Do you think the "wingnuts" just came up with today the idea to argue for China to revalue its currency?

I don't see much progress from years of "talking" to china.

This simply gives the american government more tools and authority to pressure the chinese.

Bush has been notorious for not adequalty using enforcment tools available to us (e.g., WTO) to pressure countries who engage in unfair trade practices.
 
The Democrats are doing the same thing the Republicans did when they held power, trying to talk tough about China while doing nothing.

Cypress made it a partisan comment. My expectation was you would follow whether Cypress was right or wrong. I was in shock.

Not a nice way to give a compliment on my part but that's how I did it.

In other words usc, Cawacko is the kind of guy who tries to pick up women by approaching them and saying "I don't think you're fat".

He's home alone a lot.
 
The US can decide to limit imports from China, perhaps starting with lead painted toys? It would never have been in our interests to invade Sudan unilaterally, with or without Iraq.

I never said it was good to invade sudan unilaterally.
I just think bush and bolton were playing politics and not really interested in helping in Sudan.
 
Congress confronts Unfair chinese trade practices - I wonder why it took until 2007, for congress to start dealing with this? I'm sure it has nothing to do with the change in the congressional majority party

Cypress, you do know, don't you, that if a nation deflates it's currency it's losing a great deal of profit in what it's selling, and is basically destroying it's own economy?
 
The Democrats are doing the same thing the Republicans did when they held power, trying to talk tough about China while doing nothing.

Cypress made it a partisan comment. My expectation was you would follow whether Cypress was right or wrong. I was in shock.

Not a nice way to give a compliment on my part but that's how I did it.

K, sorry my bad and I apologize then.

Just too many partisan people around.
Most of what I post is taken as partisan and I am very NON partisan.
Of course there are some partisan views I agree with, from both sides actually.

discounting the Neos of course.
 
I never said it was good to invade sudan unilaterally.
I just think bush and bolton were playing politics and not really interested in helping in Sudan.

Based upon what, other than feelings? It was Bolton I believe that first brought up the term 'genocide' to what was happening. It was he and the administration that actually forced the MSM coverage of Sudan, off of just blogs and other new media. Do you really think anything would be happening now in the UN, other than pleas if not for the interest brought to bear?
 
Based upon what, other than feelings? It was Bolton I believe that first brought up the term 'genocide' to what was happening. It was he and the administration that actually forced the MSM coverage of Sudan, off of just blogs and other new media. Do you really think anything would be happening now in the UN, other than pleas if not for the interest brought to bear?

I think it was Powell who first called it a genocide.
 
Based upon what, other than feelings? It was Bolton I believe that first brought up the term 'genocide' to what was happening. It was he and the administration that actually forced the MSM coverage of Sudan, off of just blogs and other new media. Do you really think anything would be happening now in the UN, other than pleas if not for the interest brought to bear?

I am not totally sure I am not privy to the backroom discussions in the Bush adminsitration regarding Sudan. I do however know their attitude regarding the UN.
 
I am not totally sure I am not privy to the backroom discussions in the Bush adminsitration regarding Sudan. I do however know their attitude regarding the UN.

Again, apples and oranges. The UN is and has been ineffective, with the exception of humanitarian issues, nearly since its inception. Even in humanitarian efforts they've been plagued in recent years with charges of corruption and sex scandals by the local populations. But right now it's the game in town, regardless of one's point of view.
 
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