China now costly? Currency matters PDF Print E-mail
Written by Stumo   
Wednesday, 18 June 2008

Our patriotic U.S. companies are still relocating there, more than anywhere else. 

But currency makes a difference.

A long list of concerns about China is feeding the trend [of choosing other Asian countries to relocate]: inflation, shortages of workers and energy, a strengthening currency, changing government policies, even the possibility of widespread civil unrest someday. But most important, wages in China are rising close to 25 percent a year in many industries, in dollar terms, and China is no longer such a bargain.

If Congress passed bills to correct foreign currency misalignment, we would not have this drain going on so long.  These companion bills would go a long way towards addressing that portion of the trade problem. 

*    S. 796, Fair Currency Act of 2007, Stabenow, Bunning, Bayh, Snowe and Levin.

*    H.R. 2942, Currency Reform for Fair Trade Act of 2007, (Co-Sponsors Tim Ryan (D-OH) and Duncan Hunter (R-CA)

Many Senators and Representatives have signed on the bills, but these have not.  Call them.  Get them on board.

 

Trackback(0)
Comments (0)add
Write comment

busy
 
< Prev   Next >