House committee debates China policy

Oct 25, 2011 | 06:27 PM | Catherine Ngai

Tags  currency manipulation, China, steel, Brainard, Marantis, Tom Gibson, AISI

NEW YORK — Addressing Chinese currency manipulation is said to be a top priority for the Obama administration, although the most recent currency bills may cause the White House some concern, lawmakers and trade staff said Tuesday at a House Committee on Ways and Means hearing to discuss the economic relationship between the United States and China.

"China is both an opportunity and an obstacle when it comes to our economy and American jobs," Rep. Dave Camp (R., Mich.) said during the hearing. "While the Chinese market is a large and rapidly growing destination for U.S. exports, China willfully disregards its international obligations and impedes fair commerce. China has an important role to play in restoring global economic growth...This means sustaining meaningful RMB appreciation of its currency and complying with its obligations and commitments to open Chinese markets to U.S. exports of goods and services."....

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