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Showing blog posts tagged with currency manipulation

Walmart's Policies Have Sent 400,000 Jobs to China

Walmart's Policies Have Sent 400,000 Jobs to China

Walmart's policies have sent 400,000 jobs to China since 2001,  a new report  conservatively estimates. The report from the Economic Policy Institute describes the process through which Walmart, the world's largest retailer, serves as a key conduit of Chinese products being introduced to the American market.

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A Time to Reflect on U.S. Role in Chinese Workers’ Exploitation

A Time to Reflect on U.S. Role in Chinese Workers’ Exploitation

The visit to Seattle by Chinese President Xi Jinping is a historic moment. Xi is known for his crackdown on corruption in the government and for opening up Chinese markets. Certainly, the  discussions with business roundtable leaders  here are geared toward creating more market opportunities in the country with the world’s largest population.

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How China and Currency Manipulation Affect You

How China and Currency Manipulation Affect You

“Currency manipulation” is a term that describes the practice of a government intervening in foreign currency markets in order to change the value of its own currency to gain an advantage. For instance, a government can go into the foreign exchange market, flood it with its currency while buying up lots of foreign currency or foreign government debt. 

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China’s Currency Devaluation Deepens Unfair Trade Practices

China’s Currency Devaluation Deepens Unfair Trade Practices

AFL-CIO President Richard Trumka  made the following statement after China’s latest currency manipulation :

China’s recent currency devaluation—by nearly 4% on Tuesday and Wednesday—provides further confirmation that the failure to include enforceable currency disciplines in the Trans-Pacific Partnership leaves a gaping hole in U.S. trade policy.

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Trumka: America's Working Families Need Action on Currency Manipulation

Photo courtesy Ben Wikler on Flickr

Last week I issued a statement on the importance of packaging the customs bill with Fast Track Trade Promotion Authority and Trade Adjustment Assistance if senators actually were serious about strengthening U.S. trade enforcement. 

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Trumka Details Labor’s Fight Against Fast Track and Bad Trade Deals

 In an extensive interview with Vox.com, AFL-CIO President Richard Trumka outlines the labor movement’s fight against Fast Track, the flaws in the Trans-Pacific Partnership free trade agreement, the trade relationship between the United States and China and the shortcomings and negative impact on the middle class of the nation’s trade policy.

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New Bipartisan Bill Cracks Down on Currency Manipulation

New Bipartisan Bill Cracks Down on Currency Manipulation

A bipartisan group of senators and representatives unveiled legislation Tuesday to clamp down on countries—like China—that cheat trade law by manipulating their currency. That cheating has cost millions of U.S. manufacturing jobs and is a major reason for the massive U.S. trade deficit.

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What if I Told You There Was a Way to Add $500 Billion to the U.S. Economy Annually?

There is. It involves reducing the U.S. trade deficit, which hovers around that $500 billion mark. Dave Johnson of Campaign for America's Future asks you to think about how that money could be spent.

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If We End Currency Manipulation by 2015, How Many Jobs Will Your State Gain?

If We End Currency Manipulation by 2015, How Many Jobs Will Your State Gain?

A hat tip to the Economic Policy Institute (EPI) for this handy map that calculates the  j obs created as a share of state employment from ending currency manipulation by 2015

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Want to Create 5.8 Million New Jobs? Here’s How

Want to Create 5.8 Million New Jobs? Here’s How

If the United States acted forcefully to end currency manipulation by China and other nations—and there is legislation to provide the government the tools to do so—it could create as many as 5.8 million jobs (40% in manufacturing) and reduce the nation’s trade deficit by as much as 72.5%, according to a  new report from the Economic Policy Institute  (EPI).    

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