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Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference

 

 Clyde Prestowitz giving presentation to CDI...

 

Steve Olson teaching trade negotiations at the Mekong Institute...

 

Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

(06/23/10) Prestowitz Interviewed in BusinessWeek

Five Options for Tackling Trade With China
The U.S. needs much more than an exchange-rate "head fake" from Beijing to correct the glaring trade imbalance.
Policies must be challenged

By Peter Coy

For one day?Monday, June 21?America's economic relations with China seemed to be on the right track. The Chinese currency jumped in value following a weekend announcement by the People's Bank of China that it would increase the flexibility of the exchange rate. A stronger yuan raised hopes for U.S. exporters trying to penetrate the booming Chinese market and gave domestic American producers competing with cheap Chinese imports a much-needed boost at home. Treasury Secretary Timothy Geithner said China's move would "make a positive contribution to strong and balanced global growth."

On June 22, the relationship was back to normal. The yuan gave up half of the previous session's gains as traders concluded that the central bank's commitment to flexibility did not imply a large and sudden increase in the yuan's value. U.S. labor leaders and some members of Congress argued that China's announcement was timed to deflect criticism by the U.S. and other nations at the Group of 20 summit in Toronto on June 26 and 27. "It looks to me like it was kind of a head fake. They're not contemplating anything like what we need," says Clyde Prestowitz, president of the Economic Strategy Institute, a Washington consulting firm.

Click Here to read the entire article in BusinessWeek.

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Latest Publications


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