On the recordOctober 5, 2011
Mr. President, I would like to talk on the bill that we are debating on the floor about China currency. Let me say a few things. To me and to many of my colleagues on both sides of the aisle, very little we could do could be more important in both the short term and the long term than to require China to pay a price if they continue to flaunt international trade rules and manipulate their currency, causing their imports to America--their exports to America, our imports, to be much cheaper than they should be, and causing American exports to China--their imports of our goods--to be more expensive than they should be. In the short term, it has been estimated by EPI that 2 million jobs could be created over 2 years if we pass this legislation and China's currency were no longer misaligned. But there is a long-term issue, and that is this: The bottom line is, what is our future in this country? It is good, high-paying jobs. It is companies, large and small, that create high-end products, products that take a lot of know-how, products that take a lot of skill to create, products that basically are the high end in terms of both manufacturing and services. That is our future. Those are our crown jewels. When I ask--as many of us have asked the question--how in a worldwide economy can America compete, the answer is those companies. I admit that most of those companies are not large; they are smaller companies.…
Source
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