Economist (October 15)
The Currency Exchange Rate Oversight Reform Act threatens a trade war with China and would, in all likelihood, be found to contravene WTO rules. On October 11, the U.S. Senate passed the legislation. The House should not pass the bill, and President Obama should promise a veto. “The global economy is sicker than a man with a bellyful of bad oysters. The last thing it needs now is a trade war.”
The Currency Exchange Rate Oversight Reform Act threatens a trade war with China and would, in all likelihood, be found to contravene the WTO’s rules. On October 11, the U.S. Senate passed the legislation. The House should not pass the bill, and President Obama should promise a veto. “The global economy is sicker than a man with a bellyful of bad oysters. The last thing it needs now is a trade war.”
