Excerpt
China’s economy has grown by more than 9 percent a year over the past two decades, and the nation has become an important competitor in world markets and a prominent trading partner with the United States. The low cost of labor in China has also made it one of the major exporters of labor-intensive products and a leading recipient of foreign investment. China’s foreign exchange reserves (stores of international currency held by its central bank), already the highest in the world, have risen more than 25 percent over the last year.
The Chinese Government has maintained strict controls on its currency, howev…
In This Issue
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China's Currency Policy
Trade Imbalances and the Global Economy
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China Currency Overview
Historical Background and the Current Debate
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International Economic and Exchange Rate Policies
U.S. Treasury Decision to Delay Its Report to Congress
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Currency Reform for Trade Act
House Ways and Means Committee Summary of H.R. 2378
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Obama Administration China Policy
Statement by U.S. Commerce Secretary Gary Locke
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China's Economy
Market Reforms, Trade, and Foreign Relations
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Pro & Con
Should Congress Pass H.R. 2378, the Currency Reform for Fair Trade Act?
