Commentary

Bipartisan Foolishness in the Quest to Stop China’s Currency Manipulation

By Troy Senik
Wednesday, October 12 2011

The world is an upside-down place when Mitt Romney is supporting a policy championed by Paul Krugman. Yet that’s precisely what’s happening as a bill that seeks to deter China from manipulating the value of its currency winds its way through Capitol Hill. The legislation, which passed the Senate on Tuesday, may still fail to secure passage in the House. But if it becomes law, it will have a serious negative effect on the struggling American economy.

At issue is the fact that China has consistently undervalued its currency, the yuan, to make Chinese goods cheaper…

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