Saturday, October 29, 2011
China Manipulates it's Currency to Hurt Our Economy.
For years China has been hurting our economy by manipulating it's own currency. By doing so, it keeps it's labor costs lower and gives it an unfair advantage in the world market. The price for doing this is not only against the U.S. but the world too. Plus, it keeps a large amount of it's own people at poverty levels. But, to be fair, everyone else does it as well, or at least to some extent. China though, is doing it so much that it is costing American's billions of dollars and loss of jobs. It has gotten so bad that the U.S. government is trying to pass new trade laws against China. The problem with that is, that it might start a trade war, that ends up costing Americans even more in the terms of jobs and money lost. My hope is that our Senate can figure out a way to counter this bu,t it will most likely take more governments across the world to step up and put a united front up.
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