News & Comment
Blogs and Opinion
Companies Won't Hire Due to Lack of Stimulus - Two Quick, Cheap Fixes by Mike Elk, OurFuture.org | March 25, 2010
During last month's State of the Union, President Obama unveiled a bold new push to double exports. The plan is indeed bold and could create up to 2 million jobs if implemented in the right circumstances. It’s estimated that it could double export sales pushing them over $3 trillion annually. read more »With 2.4 Million Jobs Lost to China, New Trade Battle Begins by Art Levine, Truthout | March 25, 2010
A new report released by the Economic Policy Institute (EPI) underscores how between 2001 and 2008, 2.4 million US jobs were eliminated or displaced due largely to the flooding of the U.S. market with Chinese goods priced artificially low due to apparent Chinese government currency manipulation. "We have allowed the Chinese government to game the system for far too long, with serious consequences for the US economy," says the EPI report's author, economist Robert Scott. That's no longer much in doubt, but it's still not clear how far the administration will be willing to go to push China. Congressional action may force the administration's hand, at least in labeling China a currency manipulator next month, which could ultimately pave the way for tariffs on Chinese goods. read more »Change To Believe In or Focus for Hate-Mongering? by Leo Gerard, OurFuture.org | March 25, 2010
When President Barack Obama signed the historic health insurance reform bill, he said it was, “Change we can believe in.” He noted that his party has sought reform for more than half a century. The effort began long before President Harry Truman recommended to Congress on Nov. 19, 1945 a comprehensive health program, noting: “People with low or moderate incomes do not get the same medical attention as those with high incomes. read more »Pressure Rises For China Currency Fix -- Yesterday Chinese CEOs, Today Chinese Economists by Dave Johnson, OurFuture.org | March 25, 2010
Yesterday I wrote about Chinese CEOs calling for China to bring its currency up to market rates. Today Chinese economists are joining the call. Chinese economist Gong Shengli, in his book, China is Very Happy, calls for a strong yuan, read more »An unfair playing field by Mike Lux, openleft.com | March 25, 2010
Even Chinese CEOS Call For Chinese Currency Fix by Dave Johnson, OurFuture.org | March 24, 2010
The pressure from the huge Chinese currency imbalance shows up in surprising places. Even Chinese CEOs are calling for China to increase the value of its currency to market rates. China CEOs Join Obama in Supporting Yuan Appreciation read more »Even If You Didn't Lose Your Job To Chinese Trade Games ... by Natasha Chart, OurFuture.org | March 24, 2010
Sen. Chuck Schumer (D-NY) is seeking a May vote on dealing with Chinese currency manipulation. As Rachel Maddow explained about the filibuster, this falls into that category of things that are both boring and important. Boring because money and finance are unpopular topics for such common worries. read more »Find Out How MANY Jobs Have Been Lost To China Where YOU Live by Dave Johnson, OurFuture.org | March 23, 2010
Everyone knows that we have lost a lot of jobs to China since 2001. Now you can find out exactly how many, and where. read more »Google Shuts Down In China by Natasha Chart, OurFuture.org | March 22, 2010
Google announced in January that they were considering responding to hacker attacks linked to Chinese universities by ending their search result censorship in China, knowing it would probably end their access to the Chinese search market. read more »Ten Million Jobs Needed - Ten Million Jobs That Need Doing by Dave Johnson, OurFuture.org | March 22, 2010
Dot: No net job gains since 2000. 8 million jobs lost in the recession. Never mind jobs for the 86,000 new people entering the labor force every month... read more »
The Latest
More Evidence of Lack of Competitiveness of Many Chinese Exporters, nakedcapitalism.com | April 2, 2010
One argument we have made, which some readers find difficult to accept, is that China’s keeping its currency, the renminbi, at artificially cheap levels is tantamount to an across-the-board export subsidy (the proof that the RMB is artificially cheap comes via the fact that China has had to engage in massive dollar purchases to keep the RMB pegged at its target level. read more »
Holding back job growth? Workers' awesome output, The Washington Post | April 1, 2010
When workers become more efficient, it's normally a good thing. But lately, it has acted as a powerful brake on job creation. And the question of whether the recent surge in productivity has run its course is the key to whether job growth is finally poised to take off. read more »
U.S. solar startup says sold out through 2010, Reuters | April 1, 2010
The company raised $75 million last year in a financing round led by private equity firm Warburg Pincus LLC to expand its manufacturing capacity.
Demand for solar power products has rebounded after a difficult 2009, when the global credit crisis dried up financing for new projects and panel prices plummeted. read more »
Geithner visit to focus on industry, post-gazette.com | March 31, 2010
U.S. Treasury Secretary Tim Geithner is scheduled to arrive in Pittsburgh today, where he will be greeted by a chorus of calls to bolster ailing U.S. manufacturers by taking action against China's currency and trade policies. read more »
G-20 Leaders Seek Cooperation on Currencies for Balanced Growth, Business Week | March 31, 2010
President Barack Obama and four other Group of 20 leaders said currencies should be taken into account in efforts to deliver balanced global growth, a statement that may presage increased international pressure on China. read more »
GE Says European, U.K. Policy Drove Offshore Wind Investment, bloomberg.com | March 26, 2010
General Electric Co. plans to invest 340 million euros ($453 million) in developing and expanding wind-turbine operations in the U.K. and three European countries because of the region’s long-term support of renewable energy, the company’s power and water division chief said. read more »
A rail corridor along I-81 that would get traffic and the economy moving again, The Washington Post | March 26, 2010
Tool Firms Seek U.S. Aid , The Wall Street Journal | March 25, 2010
Cash-strapped small and midsize companies that supply critical parts to industrial giants are seeking a $30 billion U.S. loan-guarantee program and pressing General Motors Co. to speed up payments in hopes that other manufacturers will follow. read more »
Tool Firms Seek U.S. Aid , The Wall Street Journal | March 25, 2010
Cash-strapped small and midsize companies that supply critical parts to industrial giants are seeking a $30 billion U.S. loan-guarantee program and pressing General Motors Co. to speed up payments in hopes that other manufacturers will follow. read more »
China Officials Wrestle Publicly Over Currency, The New York Times | March 25, 2010
Chinese leaders are engaged in a bitter and unusually public struggle over whether to allow the renminbi to rise against the dollar or to escalate further a war of words with the United States over currency values. read more »
