US Coalition Critical Of White House Policy On China's Subsidized Currency

TRADE WARS

Washington (SPX) Nov 25, 2005
A broad-based coalition committed to supporting U.S. manufacturing by seeking an end to Chinese currency manipulation Friday delivered harsh words critical of the Bush Administration's failure to take action on China's undervalued yuan.

Doug Bartlett, co-chairman of the China Currency Coalition, reacting to Treasury Secretary John W. Snow's remarks that the U.S. should give China a chance to show it will allow the yuan to rise as promised, said, "We have given China enough time. Any future change in China's monetary policy will be too little and too late."

The data reflect no evolution toward greater flexibility since July when China announced with great fanfare that it would no longer peg its currency to the U.S. dollar. "In short, it is business as usual for the Chinese, at the expense of U.S. manufacturers and workers who must compete against China's subsidized currency," stated AFL-CIO Secretary-Treasurer Richard L. Trumka and coalition co-chairman.

China held its currency rock steady against the U.S. dollar for almost eight years, which has led to a huge increase in China's exports to the U.S. and contributed to the ever-widening bilateral trade deficit. International economic experts suggest that the yuan is undervalued by as much as 40 cents on the dollar.

Snow's comments appeared to signal that the Treasury Department would refrain from branding China a "currency manipulator" in an overdue report on the currency policies of U.S. trading partners.

Doug Bartlett is Chairman of Bartlett Manufacturing Company, Inc., in Cary, Illinois. With $8 million sales and approximately 70 employees, the company has been a pioneer in printed circuit board interconnect services for more than fifty years. In addition to the China Currency Coalition, Bartlett Manufacturing is a member of the United States Business Industry Council (USBIC), an organization formed to champion the interests of America's domestic family-owned and closely-held firms.

Richard Trumka heads the labor federation's Industrial Union Council and is the youngest secretary-treasurer in AFL-CIO history. The AFL-CIO represents national and international labor unions comprising 9.5 million working women and men from every walk of life.

TRADE WARS

G20 Developing Nations Meet Ahead Of WTO Trade Liberalization Talks

Dalian, China (AFP) Jul 12, 2005
Ministers from the Group of 20 developing countries met Tuesday ahead of a crucial WTO ministerial meeting here to hammer out a common stance to negotiate global trade liberalization efforts with industrialized powers.

DISASTER MANAGEMENT New Tactical Wireless Emergency Broadband Network Introduced Sri Lankan Tsunami Survivors Hit By Floods Pakistan Quake Survivors Prepared For Winter, Australia Claims Says Focus On Levee Breaks	CLIMATE SCIENCE STARDEX Team Narrow Down Impact Of Global Warming On Specific Regions Nature: Nearly One-Third Of US In Compliance With Kyoto Accords Blair Urged To Back Binding Targets On Climate Change Bush Aide Hints At US Targets On Greenhouse Gas Emissions
EARTH OBSERVATION Envisat Monitors China's Largest Lake, Rivers Flooding Illegal EU Timber Imports Fuel Forest Disappearance, Poverty In Poorer Countries World's Forests Being Flushed Down The Toilet NASA'S Icesat: One Billion Elevations Served	ENERGY TECH SatCon To Join GA's Superconducting DC Homopolar Motor Development Team Clean Energy Changes Life Of People In Remote Regions Argonne Researchers Discover Ways To Make Magnets Last Longer Building a Better Hydrogen Trap
EPIDEMICS Poultry Flu Vaccines Need Independent Control: FAO Bad News In British Columbia; Hope In Vietnam For Bird Flu China Announces New Fatal Human Case Of Bird Flu 21 Bird Flu Outbreaks In China This Year, Crisis To Get Worse: Official	FLORA AND FAUNA New Measures Urged To Protect Dolphins And Other Friends In The Sea Sapling Thrives From 2,000-Year-Old Seed Pulp Mill Devastates Swans' Sanctuary In Chile West African Nations Agree To Stop Jumbo Numbers Shrinking
FROTH AND BUBBLE Harbin Residents Get Water Back After Toxic Spill 70% Of Rivers, Lakes Polluted In China Major River Pollution Confirmed In NE China China Admits Chemical Blast Polluted Major River, City Without Water	ABOUT US Imaging Technique Visualizes Effects Of Stress On Human Brain New Study Posits Evolutionary Origins Of Two Distinct Types Of Laughter One, Two, Threes not A, B, Cs California Scientists Double Volume Of Data In NIH Biotech Repository

The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement