James W. Harpel Professor of Capital Formation and Growth
America’s two political parties rarely agree, but one thing that unites them is their anger about ‘currency manipulation’, especially by China. Perhaps spurred by the recent appreciation of the dollar and the first signs that it is eroding net exports, congressional Democrats and Republicans are once again considering legislation to counter what they view as unfair currency undervaluation. The proposed measures include countervailing duties against imports from offending countries, even though this would conflict with international trade rules.
Frankel, Jeffrey A. "Chinese Currency Manipulation Not a Problem." East Asia Forum, March 9, 2015.