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China's Exchange Rate
Essay specific features
Written by:
John B
Date added:
February 27, 2016
Level:
University
Grade:
A
No of pages / words:
8 / 2118
Was viewed:
2587 times
Rating of current essay:
Essay content:
Some have gone as far as calling it "currency manipulation." The outcome has been loss of U.S. manufacturing jobs and a U.S. trade deficit (Labonte & Morrison, 2005).
Political Pressure
According to the Bush Administration, China's undervalued currency has contributed to America's record $16 billion trade deficit with China last year and is responsible for the loss of 3 million U...
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manufacturing jobs since 2000. The G-7 discussions addressed the issue, but opinions differed. China felt that linkage to the U.S. dollar was a necessity. Expressing that currency volatility could disrupt the nation's fragile banking system. The U.S. has placed political pressure on China by introducing bills to both the House and Senate to impose economic sanctions on China, if it does not move to a floating currency, such as 27...
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