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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  

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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.

(03/31/10) Prestowitz Testimony Discussed in Inside US-China Trade

Inside US-China Trade

March 31, 2010

Currency Witnesses See WTO As Part Of Multilateral Push for Revaluation

Vol. 10 No. 13


If China should refuse to engage in serious discussions and actions that would deal with its undervalued currency, Prestowitz said the U.S. and interested countries should file complaints in the WTO and the IMF. The WTO case could be filed claiming that the undervalued currency is a prohibited export subsidy or that it nullifies and impairs China's obligations in the WTO, he testified.

Prestowitz strongly urged that the U.S. should also take unilateral action such as imposing tariffs on Chinese goods or initiate unfair trade actions if multilateral efforts fail to solve the currency problem. Bergsten appeared cool to the idea of unilateral action, while Ferguson strongly opposed it as leading to a dispute with China that could have devastating consequences for the global economy. Levy also warned of proceeding aggressively against China for fear of causing a major economic crisis.

Click Here to Read the Article at the China Trade Extra (subscription required).

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