Chuck Schumer actually said...

"Deficit countries like the U.S. need to rely less on consumption, but surplus countries like China must increase their domestic demand, if the global economy is going to thrive."

"The overwhelming consensus in New York, as you know, is that it should not be there, and I just strongly urge you to make sure that that does not happen and to find a better alternative."

"Okay. Now if it is in China's interest to do it, why don't they do it?"

"I understand why some advocates would want to have a purely independent agency that would have this as the top priority."