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Congress Must Address China’s Currency Manipulation (Rep. Phil English)

by Pa. GOP Rep. Philip English - 01/04/08 11:54 AM ET

For too long, China has been skirting the rules established in the global trading system, causing devastation and disruption to U.S. employers. Despite very nominal appreciation of the yuan, the hastily growing bilateral deficit with China clearly highlights that neither the Administration nor Beijing are doing enough.

The Administration chose to turn a blind eye to China’s mercantilist trade practices, and once again, failed America’s domestic manufacturing sector. The Treasury Department’s recent report was a boilerplate from the bureaucracy that further highlights why Congress needs to take an active role in addressing Chinese currency practices.