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Showing blog posts tagged with currency manipulation

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 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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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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