See Below--and China Cheats, Too

Also from the NYTimes:

A bipartisan advisory group sent a report to Congress this week "that is sharply critical of China's trade practices and endorses sanctions including a tariff on imports unless Beijing takes forceful action to allow its currency to move in line with market forces," the New York Times reports (11/9).

The 222 page report, from by U.S. China Economic and Security Review Commission, "comes at a time when Congress is increasingly ready to take action against China, as that country's rapid economic ascent and it's fast growing trade surplus with the U.S. stir anxiety that jobs and wealth are being lost, perhaps unfairly," the Times says.

The commission said that Congress should consider "an immediate, across-the-board tariff on Chinese imports" unless China moves quickly to allow its currency to rise in value by at least 25%.

"It's a blunt instrument, but one intended to achieve a change in Chinese policy," said commission member Michael Wessel. "And it would be a blunt instrument that uses our market leverage," Wessel said, noting that one-third of Chinese exports go to the U.S., while China buys only 4% of American exports.

The bipartisan commission thinks that PRC is manipulating its currency (manipulation is a $25.00 word for CHEATING, folks) by 25% or more.

Even Milwaukee's talker who is MOST sympathetic to "low prices" admits that slave labor is not exactly fair competition to the US worker. He didn't mention currency-games, although similar games from the Wisconsin legislature DO get his attention--you know, the end-of-the-biennium delays in shared revenues, etc.

So if it's not exactly right for our politicians to cheat, how come the PRC gets a pass?