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

Commentary
Emissary
The Xi Doctrine Zeros in on “High-Quality Development” for China’s Economic Future
In the latest Five-Year Plan, the Chinese president cements the shift to an innovation-driven economy over a consumption-driven one.
Damien Ma
Commentary
Europe Is Falling Behind in General-Purpose Robotics. Here’s What It Can Do to Catch Up.
The continent needs to improve conditions for production of complete AI robotic systems and preserve its edge in hardware.
Pavlo Zvenyhorodskyi
Commentary
Emissary
Europe’s New Industrial Policy Can Learn From U.S. Mistakes
Although the IAA often differs from the IRA, European policymakers can still take note of the U.S. act’s shortcomings.
Milo McBride
Report
Implementing the Biden Administration’s China Strategy
At the heart of Biden’s approach to China was the consolidation of a framework for strategic competition with an eye toward coexistence.
Christopher S. Chivvis, Senkai Hsia
Commentary
Emissary
The Diverging U.S. and Israeli Goals in Iran Are Making the Endgame Even Murkier
The cracks between Trump and Netanyahu have become more pronounced, particularly over energy and leadership targets.
Eric Lob

More Work from Carnegie Endowment for International Peace

Xi walking into a room with people standing and applauding around him

Commentary

Emissary

The Xi Doctrine Zeros in on “High-Quality Development” for China’s Economic Future

In the latest Five-Year Plan, the Chinese president cements the shift to an innovation-driven economy over a consumption-driven one.

Damien Ma

A white humanoid robot with a black head and hips stands behind a rope barrier. It stands with its feet apart, knees bent, and elbows raised at its sides.

Commentary

Europe Is Falling Behind in General-Purpose Robotics. Here’s What It Can Do to Catch Up.

The continent needs to improve conditions for production of complete AI robotic systems and preserve its edge in hardware.

Pavlo Zvenyhorodskyi

Worker pushing machinery toward a car frame

Commentary

Emissary

Europe’s New Industrial Policy Can Learn From U.S. Mistakes

Although the IAA often differs from the IRA, European policymakers can still take note of the U.S. act’s shortcomings.

Milo McBride

Report

Implementing the Biden Administration’s China Strategy

At the heart of Biden’s approach to China was the consolidation of a framework for strategic competition with an eye toward coexistence.

Christopher S. Chivvis, Senkai Hsia

Commentary

Emissary

The Diverging U.S. and Israeli Goals in Iran Are Making the Endgame Even Murkier

The cracks between Trump and Netanyahu have become more pronounced, particularly over energy and leadership targets.

Eric Lob