Wednesday, March 29, 2006
Tweet[IWS] CRS: CHINA's ECONOMY & CURRENCY (2 Reports) [17 March 2006]
IWS Documented News Service
_______________________________
Institute for Workplace Studies Professor Samuel B. Bacharach
School of Industrial & Labor Relations Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor Stuart Basefsky
New York, NY 10016 Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code IB98014
China's Economic Conditions
Updated March 17, 2006
Wayne M. Morrison, Foreign Affairs, Defense, and Trade Division
http://www.opencrs.com/rpts/IB98014_20060317.pdf
[full-text, 17 pages]
[excerpt]
China's economy continues to be a concern to U.S. policymakers. On the one hand, China's economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on various U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments (especially in terms of protecting U.S. intellectual property rights) and change various economic policies deemed harmful to U.S. economic interests, such as its currency policy and its use of subsidies to support its state-owned firms. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
Includes TABLES and CHARTS.....
CRS
Order Code RS21625
Updated March 17, 2006
China's Currency: A Summary of the Economic Issues
Wayne M. Morrison, Foreign Affairs, Defense, and Trade Division
Marc Labonte, Government and Finance Division
http://www.opencrs.com/rpts/RS21625_20060317.pdf
[full-text, 6 pages]
[excerpt]
In response to international pressure over its policy of pegging its currency (the yuan) to the U.S. dollar, the Chinese government on July 21, 2005, announced it would immediately appreciate the yuan to the dollar by 2.1% and adopt a currency policy based on a basket of currencies (including the dollar). Many Members have long charged that China "manipulates" its currency in order to make its exports cheaper and imports into China more expensive than they would be under free market conditions. They further contend that this policy is responsible for the large and growing U.S. trade deficits with China and the loss of U.S. manufacturing jobs. China's July 2005 reforms have done
little to lessen congressional concerns. Several bills addressing China's currency have been introduced in Congress, including S. 295, which would raise U.S. tariffs on Chinese goods by an additional 27.5% unless China appreciated its currency. This report summarizes the main findings CRS Report RL32165, China's Exchange Rate Peg: Economic Issues and Options for U.S. Trade Policy, and will be updated as events warrant.
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky *
Director, IWS News Bureau *
Institute for Workplace Studies *
Cornell/ILR School *
16 E. 34th Street, 4th Floor *
New York, NY 10016 *
*
Telephone: (607) 255-2703 *
Fax: (607) 255-9641 *
E-mail: smb6@cornell.edu *
****************************************
_______________________________
Institute for Workplace Studies
School of Industrial & Labor Relations
Cornell University
16 East 34th Street, 4th floor
New York, NY 10016
________________________________________________________________________
Congressional Research Service (CRS)
Order Code IB98014
China's Economic Conditions
Updated March 17, 2006
Wayne M. Morrison, Foreign Affairs, Defense, and Trade Division
http://www.opencrs.com/rpts/IB98014_20060317.pdf
[full-text, 17 pages]
[excerpt]
China's economy continues to be a concern to U.S. policymakers. On the one hand, China's economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on various U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments (especially in terms of protecting U.S. intellectual property rights) and change various economic policies deemed harmful to U.S. economic interests, such as its currency policy and its use of subsidies to support its state-owned firms. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
Includes TABLES and CHARTS.....
CRS
Order Code RS21625
Updated March 17, 2006
China's Currency: A Summary of the Economic Issues
Wayne M. Morrison, Foreign Affairs, Defense, and Trade Division
Marc Labonte, Government and Finance Division
http://www.opencrs.com/rpts/RS21625_20060317.pdf
[full-text, 6 pages]
[excerpt]
In response to international pressure over its policy of pegging its currency (the yuan) to the U.S. dollar, the Chinese government on July 21, 2005, announced it would immediately appreciate the yuan to the dollar by 2.1% and adopt a currency policy based on a basket of currencies (including the dollar). Many Members have long charged that China "manipulates" its currency in order to make its exports cheaper and imports into China more expensive than they would be under free market conditions. They further contend that this policy is responsible for the large and growing U.S. trade deficits with China and the loss of U.S. manufacturing jobs. China's July 2005 reforms have done
little to lessen congressional concerns. Several bills addressing China's currency have been introduced in Congress, including S. 295, which would raise U.S. tariffs on Chinese goods by an additional 27.5% unless China appreciated its currency. This report summarizes the main findings CRS Report RL32165, China's Exchange Rate Peg: Economic Issues and Options for U.S. Trade Policy, and will be updated as events warrant.
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 8:31 AM
