Time: Obama vs. Romney: Who’s Right on China?
For me, the most misguided statement on China comes out of Romneys mouth. That concerns Chinas currency. Heres what Romney said during Mondays debate:
On day one, I will label [China] a currency manipulator, which allows us to apply tariffs where theyre taking jobs
We have to understand that we cant just surrender and lose jobs year in and year out.
Obama is much more reasoned on the currency issue. He noted in the debate that the yuan has appreciated, saying that actually currencies are at their most advantageous point for U.S. exporters since 1993.
Obama has actually struck upon a pretty good way of pressing China to improve its trade practices utilizing the World Trade Organization. Heres what Obama said on this front:
I know Americans had seen jobs being shipped overseas; businesses and workers not getting a level playing field when it came to trade
Thats the reason why we have brought more cases against China for violating trade rules than the other the previous Administration had done in two terms. And weve won just about every case that weve filed, that has been decided.
China takes its WTO responsibilities very seriously, and the organization is seen as a relatively impartial arbiter of such disputes. Rather than going head to head with Beijing, using the good offices of the WTO could produce some real results.
WHOS BEST ON CHINA?
... Romney morphs from a champion of free markets and private enterprise into a proponent of tariffs and state protection when it comes to China. I
Obama ... does see Americas relationship with China in much broader terms than Romney. Contending with China doesnt just mean fixing currencies and resolving trade disputes. Obama has a stronger, wider vision of how to make that happen.
http://business.time.com/2012/10/24/obama-vs-romney-whos-right-on-china/
Of course all of this analysis assumes that romney actually means what he says.
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