China’s Currency Manipulation: A Policy Debate
Friday, October 26, 2012
At least one reason is that America’s biggest multinational companies, like Apple, Boeing, Caterpillar, and GE, are now benefitting from off-shoring their manufacturing to China. As think tank analyst Alan Tonelson notes: “We can never forget that when China manipulates currency, when China provides illegal subsidies
of all sorts—for manufacturing, for the act of exporting itself—these US-owned companies benefit. They like the status quo, they want to protect it, and they have paid a lot of [lobbying] money for it.”Click here to read the article...