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Last Thursday, the Senate Finance Committee approved a bill, by a 20-1 vote, that would allow the Treasury to take action against China by lowering its standard for identifying currency distortion. Under existing law, the Treasury has had to prove that China intended to manipulate its currency. Under the...

Author: /time Magazine | Title: Congress Takes On China | 7/27/2007 | See Source »

Iowa Sen. Charles Grassley, the ranking Republican on the Senate Finance Committee, praised the bill and said it would end President Bush's "pussyfooting" around China's unfair trade practices. Though the White House has filed several complaints against China with the World Trade Orbanization, Republican and Democratic Senators alike...

Author: /time Magazine | Title: Congress Takes On China | 7/27/2007 | See Source »

The Senate Banking Committee has its own China bill, which would also make it harder for the Treasury to avoid labeling China as a currency manipulator. While the two committees have wrangled over jurisdiction in the case, Senate Finance Committee Chairman Max Baucus has accepted amendments from Sen. Debbie Stabenow...

Author: /time Magazine | Title: Congress Takes On China | 7/27/2007 | See Source »

'France is a country that thinks. There is hardly an ideology that we haven't turned into a theory ... Enough thinking, already. Roll up your sleeves.' CHRISTINE LAGARDE, newly appointed French Finance Minister, proposing a tax cut that would encourage the nation's people to work harder

Author: /time Magazine | Title: Verbatim | 7/26/2007 | See Source »

CHRISTINE LAGARDE, newly appointed French Finance Minister, proposing a tax cut that would encourage the nation's people to work harder

Author: /time Magazine | Title: Verbatim: Aug. 6, 2007 | 7/26/2007 | See Source »

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