It is well known that China manipulates its currency to steal jobs and prosperity from the United States. Here is a strident commentary that clearly acknowledges the problem:
“China has manipulated its currency for years in order to gain an unfair advantage over the United States in trade. Unfortunately, the Administration has failed to effectively challenge or change China’s behavior.”
Who said this? The answer, of course, is Barack Obama, and he made the point clearly when he was running for office four years ago. These days, however, Chinese policy remains unchanged; only Obama's views have changed. As many folks know, Mitt Romney has promised to deal with the Chinese currency manipulation starting on day one of his presidency. Obama and his spokesmen have denounced this rhetoric as promoting a trade war. Huh? Obama acknowledged four years ago that China was acting improperly and illegally and promised to do something about it. Obama, as with all of his promises, did not even make an attempt to deal with China. Four years of Chinese manipulation led to thousands of bankrupt American firms, millions of lost jobs and a general weakening of the already struggling American economy. Richard Trumpka, the head of the AFL-CIO, estimated not long ago that China's currency manipulation had led to the loss of five million American jobs. Let me repeat that: FIVE MILLION JOBS!!!!
As Americans decide who is best to lead the country for the next four years, they would do well to remember the Chinese and their currency games. All the BS in the world about green jobs will do nothing at all to save American jobs from unfair competition. We need a president who will defend American interests, someone who will combat the unfair actions by the Chinese, not bow to them.
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