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Showing blog posts tagged with China currency

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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Another Reason TPP Won’t Work: Currency Manipulation

Last week, China, the world’s second largest economy, devalued its currency by about 4% against the dollarVietnam—a party to the ongoing Trans-Pacific Partnership (TPP) negotiations—followed suit. This devaluation makes it tougher to sell U.S. goods on the world market—by making “Made in America” goods relatively more expensive and Vietnamese and Chinese goods relatively cheaper. 

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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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U.S.-China Trade Deficit Is One More Reason We Need Trade Policies that Lift Up Working People

In case you missed it at the end of June (and who can blame you, really?) trade numbers between the United States and China were recently released for the month of April 2014, providing us with another month’s worth of reasons for why U.S. trade policy needs to change.

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Wear Jeans? Why Made in America Matters to You

Photo by Hendrike:

"Wear Jeans? Why Made in America Matters to You" is a cross-post from the Youth Monument blog, by Celeste Drake, trade and globalization policy specialist at the AFL-CIO. 

“Buy American.” “Made in America.” In today’s interconnected world, those ideas might seem more like leftovers from the Cold War—not important maxims for America’s future. After all, young Americans are drinking Colombian coffee in the morning, skyping with friends in the U.K. at lunch, buying a made-in-China iPhone in the afternoon and drinking Italian wine in the evening. The idea of “Buying American,” or economic patriotism, might seem quaint, if not outright ridiculous.

Fact is, making things in America isn’t an obsolete idea. It’s how we built this country into the largest economy the world has ever seen. And it’s imperative for America’s future. 

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Debate Preview: The Romney-Ryan China Record

By monkeysz_uncle ( [CC-BY-2.0 (], via Wikimedia Commons

We expect tonight’s debate will include more fantastical claims from Mitt Romney, and to inoculate you against “Romnesia,” we include some notes on the actual Romney-Ryan record. Despite Romney and Paul Ryan’s history of enthusiasm for outsourcing American jobs to China and elsewhere, they claim they would somehow be “tougher on China” than the Obama administration has been. We want to make sure you know about the real Romney-Ryan record on China before Romney tries to “etch-a-sketch” it away this evening.

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Will Manufacturing Make China a Democracy?

Photo of Shanghai. Courtesy of Dainis Matisons via Flickr

This is a cross-post from The Huffington Post by Stan Sorscher, labor representative for the Society of Professional Engineering Employees in Aerospace/IFPTE Local 2001 (SPEEA/IFPTE).

The other day, I had lunch with an economist I respect and admire. I asked him, what would it take for China to become a modern democracy and build a strong middle class?

OK. I didn't ask him that. I told him that China would need strong institutions of civil society and a deeper sense of a social contract to become a stable modern democracy with a dynamic middle class.

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U.S. Olympians to Wear Uniforms ‘Made in China’

Vintage Olympics poster from 1948. Courtesy of Flickr Creative Commons.

If there was ever a time to push Made in America products, the 2012 Summer Olympics is certainly it. However, according to an ABC News report, Team U.S.A. will be wearing Ralph Lauren uniforms Made in China when they compete in London this summer.

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