NFTC Releases Draft Trade Promotion Authority Act of 2013
In April the NFTC released its draft bill, Trade Promotion Authority Act of 2013, developed to initiate and facilitate debate over the objectives of future trade agreements and ensuring an efficient “fast track” process for Congressional consideration of implementing legislation. This draft legislative text is an updated version of the NFTC’s draft Trade Negotiating Authority Act of 2009. Click here to read more and to view the full text and summary of the bill, as well as a list list of major changes from the 2002 law.
Moving Beyond Currency Manipulation in U.S.-China Trade Relations
(Originally published by The Fletcher Forum of World Affairs at fletcherforum.org)
China has long been accused—this year’s presidential campaign not withstanding—of currency manipulation–keeping the value of the Chinese Renminbi (RMB) artificially low in order to stimulate exports and discourage imports. One result of this policy has been China’s high current account surplus with countries such as the United States and the European Union, which leads to considerable political anxiety.