Dr. Albert Keidel presented testimony at a hearing on "The Treasury Department's Report to Congress on International Economic and Exchange Rate Policy (IEERP) and the U.S.-China Strategic Economic Dialogue" for the U.S. Senate Banking, Housing and Urban Affairs Committee on Wednesday, January 31, 2007. Dr. Keidel argues in his remarks that the U.S.-China strategic economic dialogue (SED) can be a very effective means for both sides to address trade issues and the U.S. should use SED wisely. Keidel also commented that China’s currency rate should not be blamed for the large U.S. current account deficit; he emphasized that the U.S. has a large deficit with the global supply chain as a whole. Dr. Keidel suggests that instead of focusing on China’s currency exchange rate, the U.S. should focus on issues at home such as education, pension mobility and heath care in order to strengthen its own global competitiveness.
Please click on the links above to read Dr. Keidel's oral and written remarks.