Categorized | Currency

Rep. Camp and bipartisan cooperation to do nothing


Actions matter.  Words don’t count.

The U.S. could take its own action to protect our interests on currency.  But don’t.

Dave Camp, chair of the House Ways & Means Committee, could mark up the Currency Reform for Fair Trade Act (HR 639), but refuses to do so.  Instead, he tells the administration to do something.  In other words, Camp passes the buck, but still get in the news with his SWL (sternly worded letter).

House Ways and Means Chairman Dave Camp (R-MI), along with the Republican members of the panel, sent a letter on Friday to the Obama administration pressing leaders to address long-standing and specific concerns, such as improving U.S. market access in China, allowing more investment, protecting intellectual property, further rebalancing China’s economy and restarting bilateral investment treaty negotiations.

Secretary Geithner, of course, not to be outdone in terms of ineffective futility, continued to “urge” China to change.

Obama, of course, supported currency reform legislation, but then he became president and did nothing.

Then there’s Mitt Romney, he has strong words on China but refuses to support the currency reform bill, which makes it harder to take him seriously on the topic.

Then there’s John Boehner and Eric Cantor who said the currency reform bill was “dangerous”, so they capitulate to China in a different way.

Camp has further strong words on China as he does… exactly… nothing… in his position as Ways and Means Committee Chairman.  If you just read the words of Camp’s speech below, you would mistakenly think he was really committed to fixing the China problem.  But CPA has asked him to move on the currency issue, and he has refused.

In a Thursday speech at the Center for Strategic International Studies (CSIS), Camp said the frequently strained relationship can’t be ignored, especially as China is the U.S. second largest trading partner and third largest export market.

China presents the potential of 1.4 billion customers for our exports, yet “it purposefully impedes market access for U.S. goods and services and blatantly steals the intellectual property of American businesses,” said Camp.

“The fact is that despite benefitting significantly from globalization and a more integrated global economy, China remains stubbornly closed to U.S. companies, farmers, ranchers, and workers,” he added.

“The litany of China’s trade distorting policies is deeply troubling and cannot be allowed to stand.

“Plain and simple, we cannot allow China to continue its unacceptable trade practices, and I have concerns that countries such as India, Brazil, and Argentina are emulating some of China’s poor trade practices.  We need better engagement with these countries to prevent them from going down this slippery slope.”

Words don’t matter.


3 Responses to “Rep. Camp and bipartisan cooperation to do nothing”

  1. Tom T. says:

    In politics, words are for the voters and action is reserved for those paying them off.

    Our government is Soooooo dysfunctional. Instead of governing effectively, they are in continuous campaign mode and saying as much stuff as they can to say, “I told you so” during the campaign.

    If we only had another box on the ballot when voting that said “put them directly into jail”, I think voter turn out would be much higher and voter apathy would disappear. As it is today, voters fire them and they go directly to K Street to use their skills to undermine good and effectual government.

    I am really hoping the 85% in Congress wake up. I think the American people have. These committee chairs are much of the cause of a dysfunctional government. They are paid to make it that way.

    Tom T.

  2. David Albano says:

    This Just what we can expect from a Republicon,pass the buck.What we need is action not excuses.

  3. Sorscher says:

    Funny joke:

    Promises in 2001 when China was admitted to the WTO:

    Actually it’s not funny, at all.


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