The Senate took aim Thursday at what supporters call “egregious and prevalent” currency manipulation by foreign countries. But economists say such manipulation is no longer prevalent and that the longtime poster child of currency manipulation — China — has gradually stopped doing it.
Nonetheless, most Senate Democrats and Republicans supported a bill that would punish countries — particularly China — that they say manipulate their currencies to make their exports cheaper and gain unfair trade advantages. The measure would force the Commerce Department to investigate allegations of manipulation and determine offsetting import duties.........................................Full Article: Source
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