Obama forms new trade body to monitor China
January 30, 2012 Category Foreign trade, Weekly
U.S. President Barack Obama says he will step up pressure on China and other countries that America accuses of unfairly subsidizing exports. In his state-of-the-union address, Obama announced a push to shore up American manufacturing and create jobs, and said he would establish a new government body dedicated to fighting errant countries. Obama mentioned China four times in his address. “I’m announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trade practices in countries like China,” he told Congress. “We’ve brought trade cases against China at nearly twice the rate as the last administration – and it’s made a difference.” Neither the Chinese government nor state-run media reacted to Obama’s charges, as China was still in the middle of the week-long Lunar New Year holiday. “The recent escalation of rhetoric is putting pressure on U.S. politicians, and particularly the President, to stand up to China during an economic downturn and a politically sensitive election year,” said Professor Shi Yinhong, Director of Renmin University’s Center of American Studies. Professor Tao Wenzhao, Researcher at the Institute of American Studies of the Chinese Academy of Social Sciences (CASS), said the Obama administration would get tougher, further stoking bilateral tensions this year. “We can see the escalating rhetoric over China this year, compared with [2008 and 2004],” Tao said, referring to previous U.S. presidential election years. The Republican challengers have criticized Obama for weak handling of China. Former Massachusetts Governor Mitt Romney has promised a tougher stance, saying he would start by labeling China a currency manipulator, the South China Morning Post reports.
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