Political Quotes

“Madam President, over the last few days, we have watched President Obama's Cabinet Members and leaders of the G20 nations in Toronto for an economic summit. Our trade relationship with China has been one of the most important among many issues the world's leaders have addressed. We know Ohio's workers and manufacturers can compete with anyone in the world, but China's currency manipulation imposes an enormous and an unfair competitive disadvantage to our workers and our manufacturers. While last week's announcement that China will allow a gradual appreciation of the value of the yuan is encouraging, we have all too often seen China revert to its old tricks when the spotlight fades. In fact, China made its announcement on a Saturday--a minimalist announcement at that--and the next day backpedaled even on that announcement. China's systemic intervention in the currency market, where they continue to buy Western currency, has led to the undervaluation of the yuan by up to 40 percent--some economists say even more than that. That means China has a distinct advantage for its exporters and puts our exporters at a distinct disadvantage when they try to get into the Chinese market. That is why we asked the Commerce Department to make the important decision to investigate China's currency manipulation on behalf of paper manufacturers in Ohio and several other States.…”