Congressional Digest

International Debates Archives November 2010 No. 8 Vol. 8
Honorable Tim Murphy

China's Currency Policy

Trade Imbalances and the Global Economy

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Honorable Tim Murphy

U.S. Representative, Pennsylvania, Republican

Representative Murphy, of the Eighteenth District of Pennsylvania, was first elected to the U.S. House of Representatives in 2002. He serves on the Energy and Commerce Committee. The following is excerpted from September 15, 2010, testimony before the House Ways and Means Committee on China’s Exchange Rate Policy. Next year, China will overtake the United States as the world’s largest manufacturing economy. But the United States is losing more than prestige to China. We’re losing jobs. In the last decade, the U.S. has lost a third of its manufacturing jobs. Almost 2.5 million alone were lost to China. Fifteen million…

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