China’s currency policy is the most important U.S. trade issue and raising the yuan’s value would help add 500,000 American jobs, said C. Fred Bergsten , director of the Peterson Institute for International Economics.
Investigators probing the recent ransacking of International Monetary Fund computers have concluded the attack was carried out by cyber spies connected to China, according to two people close to the investigation.
Christine Lagarde , who has taken her campaign to head the International Monetary Fund to India and China while keeping her fans posted on Twitter, may be poised to defeat her main rival, Agustin Carstens .
The Obama administration, facing growing complaints in Washington that it hasn’t persuaded China to increase the value of its currency, filed two trade cases against the world’s largest exporter of goods.
The U.S. isn’t expected to return to full employment for at least six more years, and the consensus in Washington seems to be that President Barack Obama’s administration has no options to improve that dreary outlook.