Feb 3 – President Obama said that the US must examine the role of China’s currency value in international trade. Deborah Lutterbeck reports.

One Response to “Obama on China currency "challenge"”

1. 

   David V 3 February 2010 at 5:33 pm #

   Governments that subsidize export industries only rob their taxpayers to pay foreign buyers. When China subsidizes their exports, American export manufacturers lose money, but Americans get cheaper consumer goods, and “free” dollars to buy goods that would have belonged to Chinese workers. These “new” dollars are spent on both American and Chinese goods.
   The net effect is to boost American wealth at the expense of Chinese workers. Obama is only bitching about this because the export lobby is far more concentrated than American consumers.

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