USTR - No Mention of China's Currency Manipulation in Report

The Office of the United States Trade Representative has issued a report on foreign trade barriers. Contained within is no mention whatsoever of Chinese currency manipulation. There is mention of VAT manipulation, tariff-rate quotas and even a 35% tariff on raisins. (who knew?)

While the press is calling this report hard line, I find it kind of wimpy and even question some of the trade figures quoted.

If you wish to read some real stuff on China, go to the U.S.-China Economic and Security Commission site and read their reports and hearings. Just take this one, on China's industrial policy and look at China's strategic short and medium term plans. This is what they intend to dominate in just Science and Technology:

Under China's S&T Plan, key projects cover a number of priority sectors:

  1. core electronic components, high-end general chips and basic software;
  2. the technology for manufacturing extremely large integrated circuits;
  3. new-generation broadband wireless mobile telecommunications;
  4. high-end numerical controlled machine tools and basic manufacturing technology;
  5. development of large oil and gas fields;
  6. large nuclear power plants with advanced pressurized water reactor, high-temperature gas-cooled reactors;
  7. control and treatment of pollution in water bodies;
  8. nurturing new, genetically modified biological species;
  9. development of important new drugs;
  10. control and treatment of major contagious diseases such as AIDS and viral hepatitis;
  11. large aircraft; high-resolution earth observing system;
  12. manned space flights;
  13. lunar exploration projects.

Right, we have one trade representative who dares not mention the most obvious problem with China while China has teams, divisions, strategic short, median and long term planning and how to go about capturing and developing industries, complete with a host of trade tools and strategies to protect those very endeavors.

We're talking about raisin tariffs, China is busy with a long term manufacturing and industrial policy. Does the U.S. have one of those? Not that I am aware of.

Here is the complete USTR report, National Trade Estimate on Foreign Trade Barriers (warning, large pdf). I strongly suggest reading it to at least realize, there are many ways to restrict imports coming into your country, not just tariffs.

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Que sorpresa!

It's not like we didn't expect our government to back down yet again.
Sure, there are reasons for China's surplus outside of just currency manipulation (like slave labor for export), but that doesn't mean we should overlook the manipulation.

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Ron Kirk

Ron Kirk is yet another free traitor, so this isn't a surprise.

One thing the report claims is China is the 3rd largest US export market. I have to pull up those numbers, because what the U.S. imports into China is a trickle in comparison to what China exports to the U.S. What is in those numbers? U.S. Treasuries?

The Obama administration put into place, so many who will simply do the same things the Bush administration did.

The real surprise is there is movement in Congress to declare by law China as a currency manipulator. So, any action on trade at all, and obviously getting Congress to do anything that isn't a lobbyist grade A stamp of approval is almost impossible, would be a miracle. I think a key reason we might get action is because China is busy screwing over U.S. multinationals operating in China, quite a bit. Recently they claimed intellectual property must be "domestically sourced" in order to be honored. That means (as if they haven't been doing this, including industrial espionage) it sounds like they are going to rip off some highly valuable patents and advanced technology and maybe, just maybe our MNCs will actually not take that one lying down.

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That's news

Recently they claimed intellectual property must be "domestically sourced" in order to be honored.

First I've heard of that. This would explain the sudden tough talk out of Congress. Their corporate puppet-masters are not happy about this development. It costs them money.

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I hear some blog, picks up on these stories and posts them

Can't remember which one (sic ;))

China's "Indigenous" Intellectual Property Government Procurement Policy.

If one clicks on those meta tags (taxomony), all of the posts with that tag are shown, in order of publication date.

They aren't just search terms, those meta tags actually create links.

Here is the China meta tag.

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The Fix is in!

Seems the Chinese President is coming to D.C., so the New York Times predicts the Treasury will not label China a currency manipulator.

Then they conjecture that China will "slowly" revalue their currency. This is the same crap we've been hearing for years. China is smart, they will re-evaluate their currency to give some token, but in reality, absolutely not enough to make any difference in terms of repressed wages, costs to to continue to give them an unfair advantage.

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