Title: What China's Currency Devaluation Means | OurFuture.org by People's Action
Headings: What China's Currency Devaluation Means
What China's Currency Devaluation Means
Market Rates?
China Slowdown Fears, Capital Flight
Currency War?
A Boost For China, The Rest Of Us Not So Much
Our Trade Polices Cause U.S. Job Loss

Content: China could boost its own growth in ways that are not "bad for everyone else" by allowing a currency and trade balancing and the resulting overall increase of world trade over the longer term. But this would not provide an immediate shot in the arm in the way the mercantilist policies of currency and other manipulation have done. China's current policies essentially steal the business from other countries and do not expand overall growth and stability. Our Trade Polices Cause U.S. Job Loss
Meanwhile the U.S. will not adopt trade policies that benefit the overall U.S. economy. June's U.S. trade deficit with China was an enormous, humongous $29 billion – in just one month and just with China. This deficit is a metric for measuring the loss of jobs, factories and overall wealth from our economy. China does what China does, for China. The U.S. should do what the U.S. needs to do, for the U.S. Instead, our "free trade" ideology causes us to let mercantilist countries do what they do. Our government's refusal to confront China's currency manipulation, with factories leaving the country and shipping the same goods back, the resulting loss of jobs and drop in U.S. wages benefits a few people at the top of our system. An issue brief released Tuesday by the Economic Policy Institute (EPI), " Manufacturing Job Loss: