The Treasury Department's Currency Report, Dialogue with China and Related Topics

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Testimony

The Treasury Department's Currency Report, Dialogue with China and Related Topics

By Dr. Albert Keidel

Published on Jan 31, 2007

Source: Senate Banking

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.

About the Author

Dr. Albert Keidel

Former Senior Associate, China Program

Keidel served as acting director and deputy director for the Office of East Asian Nations at the U.S. Department of the Treasury. Before joining Treasury in 2001, he covered economic trends, system reforms, poverty, and country risk as a senior economist in the World Bank office in Beijing.

Recent Work

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China’s Fourth Quarter 2008 Statistical Record
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Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

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