Us Trade with China Policies
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Kathy Lee
Speech 130
April 7, 2010
POLICY SPEECH
TRADE IMBALANCE BETWEEN UNITED STATES AND CHINA
Introduction: America is about independence. Reliance on Chinese imports threatens our autonomy and results in loss of power due to import/export imbalance cutting the value of the dollar and increasing US debt. The lower cost of goods imported from China has reduced the cost of things in the US allowing lower income peoples to improve their quality of life, and jobs have increased within companies selling goods imported from China; however, unemployment has increased as industries which support the American economy and way of life go out of business. Despite any advantages, dependence on and debt to China is seriously and unwisely reverting control of the US economy to China.
Proposition: Trade and corporate business dealings with China should be regulated to maintain US independence.
Inherency: China controls the value of the US dollar.
Claim A: China keeps its yuan undervalued to reduce the value of the US dollar.
Warrant 1A: Keeping the yuan undervalued gives China an unfair advantage over the US.
Grounds:
1A: In a 2009 Washington times article Nobel laureate Paul Krugman and C. Fred Bergsten, director of the Peterson Institute for International Economics, charged that “The currency manipulation keeps the yuan, also known as the renminbi, undervalued by 25 percent on a trade-weighted basis and 40 percent relative to the dollar and provides China with an unfair trade advantage in violation of international trading rules.”.
2A: A report from the Economist Intelligence Unit in 2008 states, “Hong Kong's economic policy since 1983 has been the Hong Kong dollar's peg to the US dollar …. The system gives three banks … authority to issue Hong Kong dollars upon depositing US dollars … at the pegged exchange rate of HK$7.8:US$1. In return for their deposits, the … banks are issued certificates of indebtedness.”
3A: In a...
Speech 130
April 7, 2010
POLICY SPEECH
TRADE IMBALANCE BETWEEN UNITED STATES AND CHINA
Introduction: America is about independence. Reliance on Chinese imports threatens our autonomy and results in loss of power due to import/export imbalance cutting the value of the dollar and increasing US debt. The lower cost of goods imported from China has reduced the cost of things in the US allowing lower income peoples to improve their quality of life, and jobs have increased within companies selling goods imported from China; however, unemployment has increased as industries which support the American economy and way of life go out of business. Despite any advantages, dependence on and debt to China is seriously and unwisely reverting control of the US economy to China.
Proposition: Trade and corporate business dealings with China should be regulated to maintain US independence.
Inherency: China controls the value of the US dollar.
Claim A: China keeps its yuan undervalued to reduce the value of the US dollar.
Warrant 1A: Keeping the yuan undervalued gives China an unfair advantage over the US.
Grounds:
1A: In a 2009 Washington times article Nobel laureate Paul Krugman and C. Fred Bergsten, director of the Peterson Institute for International Economics, charged that “The currency manipulation keeps the yuan, also known as the renminbi, undervalued by 25 percent on a trade-weighted basis and 40 percent relative to the dollar and provides China with an unfair trade advantage in violation of international trading rules.”.
2A: A report from the Economist Intelligence Unit in 2008 states, “Hong Kong's economic policy since 1983 has been the Hong Kong dollar's peg to the US dollar …. The system gives three banks … authority to issue Hong Kong dollars upon depositing US dollars … at the pegged exchange rate of HK$7.8:US$1. In return for their deposits, the … banks are issued certificates of indebtedness.”
3A: In a...