Excerpt: Republican presidential nominee Mitt Romney has pledged to declare China a currency manipulator on his first day in office. It may not be that easy, or have the desired effect.U.S. law requires the Treasury Department to consider whether other nations are controlling exchange rates to gain an unfair trade advantage and issue a report on the subject twice a year. A Romney administration may not have the personnel in place to take such action on Inauguration Day, Jan. 21.”The most likely thing is once in, he would direct his secretary of the Treasury to accelerate issuance of the report,” William Reinsch, president of the National Foreign Trade Council, a Washington-based business group, said in an interview. “There’s no penalty for issuing it earlier.”Romney could issue an executive order to name China a currency manipulator, according to Reinsch. “The relevant question, of course, is whether the Chinese would pay any attention,” he said. http://www.bloomberg.com/news/2012-10-24/romney-s-pledge-on-china-currency-won-t-be-met-in-a-day.html
Category: NFTC In the News
Opportunity for Course Correction in Ecuador
Excerpt: As much of the world economy struggles to find firm footing, it is an important time to remember that foreign direct investment and commercial development work best when rule of law is placed front and center, especially in developing countries.Without proper safeguards and the enforcement of treaties, foreign investors often find themselves marginalized to the benefit of domestic industries. When this occurs, other investors frequently pull out of the host country, taking with them valuable capital, expertise, training and improvements in infrastructure.The result can be devastating to the host country’s economy, and a blow to the standard of living of its people.One country that currently is heading down this perilous path is Ecuador. In recent months, the country has set several dangerous precedents against free trade and the rule of law.http://thehill.com/blogs/global-affairs/guest-commentary/262265-national-foreign-trade-council-president-bill-reinsch-opportunity-for-course-correction-in-ecuador
What Interest Groups Are Doing for the Debate
Excerpt: In the “if interest groups were moderators” category comes National Foreign Trade Council president Bill Reinsch, who has written “Four questions that should be asked tonight — but won’t.” (Not optimistic there, are we?). The questions touch upon climate change, education, innovation and America’s long-term role in geopolitics.http://influencealley.nationaljournal.com/2012/10/what-interest-groups-are-doing.php
