What policy stance should the United States and the EU adopt toward China with regard to...
What policy stance should the United States and the EU adopt toward China with regard to how it manages the value of its currency?
Homework Answers
Currency Manipulation as done by China has serious effects on Global Market , for example - loss of jobs in Unites States and Europe.
Following policy measures should be adapted by United States and EU:
- Impose Tariff- Charge tariff on imports sourced from China.
- Strict Import Quota on Chinese goods so as to allow only limited number of underprice exports from China to come into Unites States and EU market.
- US and EU should approach International Institutions like World Trade Organization (WTO) and International Monetary Fund (IMF) to combat currency manipulation. WTO and IMF may cooperate together. If IMF found any violations, then WTO authorise complainant to impose tariffs against offending country.
- Plurilateral Agreement: US and EU, with like minded countries, form an agreement, outside boundary of WTO, to exert peer pressure on offenders and bargain for their interests.
Following these stances, may help US and EU to slow and reduce the loss inflicted by Chinese Currency manipulation.
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