A Currency Battle with China Cannot be Won
Joseph A. Massey and Lee M. Sands, New York Times | August 24, 2010
The growing US trade deficit with China should not be blamed on the exchange rate – de-linking the two currencies would have a minimal impact at best. ++ There are more effective ways for the US to benefit from China's growth. ++ Obama's goal of doubling American exports in five years is a step in the right direction. ++ With federal support, small, competitive firms could move into the global market. ++ Obama should also push for Chinese direct investment, which would bring money back home and put it into the pockets of American workers.
