House Acts Against Two Chinese Threats » Publications » Family Security Matters: "On September 29, a large, bi-partisan majority in the U.S. House of Representatives approved two bills indicating that Congress has finally woken up to the threat the People's Republic of China (PRC) poses to the prosperity and security of America.
The first piece of legislation was the Currency Reform for Fair Trade Act (H.R. 2378), which had been pending for several years. The bill is rather modest in its approach to a major issue. China's exchange rate is not set by the market but by government fiat to gain a competitive advantage in trade. The Chinese yuan is undervalued by as much as 40 percent, making exports cheaper and imports more expensive."
See original work for more on this and other stories.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.