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

{
  "authors": [
    "Albert Keidel"
  ],
  "type": "testimony",
  "centerAffiliationAll": "dc",
  "centers": [
    "Carnegie Endowment for International Peace"
  ],
  "collections": [],
  "englishNewsletterAll": "asia",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "AP",
  "programs": [
    "Asia"
  ],
  "projects": [],
  "regions": [
    "China",
    "East Asia"
  ],
  "topics": [
    "Economy"
  ]
}

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

Article
As China's Exports Drop, Can Domestic Demand Drive Growth?
- Dr. Albert Keidel
Article
China’s Fourth Quarter 2008 Statistical Record
- Dr. Albert Keidel

Economy China East Asia

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.

More Work from Carnegie Endowment for International Peace

Paper
The AI Labor Debate: Three Views on the Future of Work
AI could hollow out jobs, reshape them gradually, create entirely new ones—or do all three at once. The case for starting to act now doesn’t depend on knowing which.
Teddy Tawil
Commentary
Carnegie Politika
Russia’s Coal Industry Is Running on Borrowed Time
Powerful lobbyists and inertia led to Russia’s coal-mining sector missing an excellent opportunity to solve its structural problems.
Alexey Gusev
Commentary
Emissary
The U.S. Export-Import Bank Was Built for a Different Era. Here's How to Fix It.
Five problems—and solutions—to make it actually work as a tool of great power competition.
Afreen Akhter
Article
Leveraging Internal Security Cooperation with Vietnam Offers a Glimpse of Future Chinese Diplomacy with Southeast Asia
Despite long-standing differences, China and Vietnam are reinforcing common ground for collaboration, especially in public security. This internal security–centered diplomacy offers a strengthened road map for how China moves forward with Southeast Asia.
Sophie Zhuang
Collection
The Iran War’s Global Reach
As the war between the United States, Israel, and Iran continues, Carnegie scholars contribute cutting-edge analysis on the events of the war and their wide-reaching implications. From the impact on Iran and its immediate neighbors to the responses from Gulf states to fuel and fertilizer shortages caused by the effective shutdown of the Strait of Hormuz, the war is reshaping Middle East alliances and creating shockwaves around the world. Carnegie experts analyze it all.

More Work from Carnegie Endowment for International Peace

Humanoid robots follow technicians to learn job skills at the data collection area of an embodied AI robot innovation center on September 14, 2025 in Shaoxing, Zhejiang Province of China.

Paper

The AI Labor Debate: Three Views on the Future of Work

AI could hollow out jobs, reshape them gradually, create entirely new ones—or do all three at once. The case for starting to act now doesn’t depend on knowing which.

Teddy Tawil

Commentary

Carnegie Politika

Russia’s Coal Industry Is Running on Borrowed Time

Powerful lobbyists and inertia led to Russia’s coal-mining sector missing an excellent opportunity to solve its structural problems.

Alexey Gusev

Commentary

Emissary

The U.S. Export-Import Bank Was Built for a Different Era. Here's How to Fix It.

Five problems—and solutions—to make it actually work as a tool of great power competition.

Afreen Akhter

Article

Leveraging Internal Security Cooperation with Vietnam Offers a Glimpse of Future Chinese Diplomacy with Southeast Asia

Despite long-standing differences, China and Vietnam are reinforcing common ground for collaboration, especially in public security. This internal security–centered diplomacy offers a strengthened road map for how China moves forward with Southeast Asia.

Sophie Zhuang

Collection

The Iran War’s Global Reach

As the war between the United States, Israel, and Iran continues, Carnegie scholars contribute cutting-edge analysis on the events of the war and their wide-reaching implications. From the impact on Iran and its immediate neighbors to the responses from Gulf states to fuel and fertilizer shortages caused by the effective shutdown of the Strait of Hormuz, the war is reshaping Middle East alliances and creating shockwaves around the world. Carnegie experts analyze it all.