| Congress Denounces China's Trade Policies |
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| by Tom McGregor | Mon, Nov 23, 2009, 09:19 AM |
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According to the Washington Times, "the report prompted a bipartisan request on Capitol Hill for the Commerce Department to investigate whether China has been manipulating its currency to subsidize its exports, thereby gaining an unfair trade advantage over the U.S." After the report was released on Thursday, Sens. Lindsey Graham (R.-S.C.) and Charles E. Schumer (D.-N.Y.), wrote to Commerce Secretary Gary Locke (Chinese-American) pleading with him to utilize his authority "to initiate investigations" of allegations by U.S. manufacturers that China has been manipulating the value of its currency. Some conclusions by the commission were very pointed that were noted Carolyn Batholemew. The Washington Times quotes the report as saying that, "the commission notes a disturbing trend away from the development of a free market system and instead sees moves to greater government control." Ms. Bartholemew is chairwoman of the U.S.-China Economic and Security Review Commission, which Congress established in 2000 to investigate, analyze and provide recommendations to Congress on the economic and national security implications of the U.S.-China relationship. She previously served as foreign policy adviser to Democratic leader Nancy Pelosi and as a staff member of the House intelligence committee. The annual report by the commission drew the conclusion that "Beijing's industrial policy was a contributing factor to the imbalances that led to the global financial crisis that affected the economies of rich and poor nations alike." The Washington Times reports that, "the pursuit of export-promoting policies has generated China's massive trade surpluses, the report said. Those surpluses have led to China's accumulation of $2.3 trillion in foreign-exchange reserves, the world's largest cache, most of which is invested in billion-denominated assets." To read the entire article from the Washington Times, link here: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it 
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Comments (2)
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written by Dr. Little , November 23, 2009 The CHICOM are actively waging both economic and political warfare aginst the U. S. This article, above, "highlights" some of the economic warfare. Politically, the CHICOM have long been using the U. N. as their surrogate in this warfare, and more recently the CHICOM have installed their controlled stooge as U. S. President. Another of their stooges is in place as U. S. Secretary of State. Wake up, AMERICA, before it is too late.
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written by John Weekley , November 23, 2009 It IS interesting that President Obama, who has indebted the country more than all previous presidents combined, suddenly put our crushing debt and financial peril top of mind after meeting with our largest creditors. What was surprising, and almost humorous, was his sudden declaration about how a 5% improvement in exports to China would dramatically improve things. First, the imbalance of trade with China is like a waterfall, and about the only things the Chinese want from us are items they shouldn't have. A 5% change would be like spraying a garden hose up the waterfall in hopes of reversing its direction. The government needs to stop spending us into more debt, cut taxes to stimulate jobs, stop monetizing our debt, kill health care and other programs like Cap and Trade that will dramatically cost jobs, and focus on getting the economy healthy. Had it not been for World War II, President Roosevelt's misguided politices would have stretched the impact of the Great Depression well into the 50s. President Obama has embarked on a radical political agenda that is at odds with getting our financial house in order and creating as many jobs as possible. Elections have consequences, and he's perfectly within his rights to do most of what he's doing, wrong-headed or not. But, it's one thing when Americans hold their own war bonds, and quite another when the Chinese hold the paper on a debt that could take generations to repay. Write comment
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The economic and trade policies of China contributed to the global financial crisis and are supposedly laying the groundwork for the next one, as disclosed by a news report from a congressional chartered commission.
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