A food safety factory shutdown has Americans hunting for baby formula. Readying themselves for a covid-19 lockdown, Chinese in Beijing emptied store shelves. Emerging from lockdown, some in Shanghai are visiting well-provisioned markets. U.S.-China agricultural trade is booming, but many are still being left hungry. Food security, sustainability and safety remain issues.
Congressional Research Service, "China's Currency: A Summary of the Economic Issues," July 11, 2007
View reports from another year:
2013 | 2011 | December 2010 | October 2010 | December 2009 | June 2009 | April 2009 | 2007 | November 2005 | July 2005
Summary
Many Members of Congress charge that China’s policy of accumulating foreign reserves (especially U.S. dollars) to influence the value of its currency constitutes a form of currency manipulation intended 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 has caused a surge in the U.S. trade deficit with China and has been a major factor in the loss of U.S. manufacturing jobs. Threats of possible congressional action led China to make changes to its currency policy in 2005, which has since resulted in a modest appreciation of the yuan. However, many Members have expressed dissatisfaction with the pace of China’s currency reforms and have warned of potential legislative action. This report summarizes the main findings CRS Report RL32165, China’s Currency: Economic Issues and Options for U.S. Trade Policy, by Wayne M. Morrison and Marc Labonte and will be updated as events warrant.
Please click here to download the report.
Click here for a listing of reports released by the Congressional Research Service.
Featured Articles
European views toward China are not uniform. Europeans recognize China's economic prowess and clearly favor continued ties, but majorities in much of Europe now have a negative view towards China.