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U.S. jobs depend on China revaluing its currency now

By Alliance Alert

Robert E. Scott writing at The Huffington Post: "Growing trade deficits with China eliminated or displaced 2.4 million U.S. jobs between 2001 and 2008. China's manipulation of its currency, the Renminbi (RMB), is responsible for at least 1 million of these displaced jobs. ... The world economy cannot afford to wait another three years for China to revalue, nor can we depend on China's central bank to act responsibly. Congress must set a firm target and deadline for China to achieve a 40% revaluation of its currency."

Full post as published by Constitutionally Correct on June 24, 2010 (boomark / email).