Word: trade
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...Smith's district. Across the country, groups on all sides of the health care reform debate have been targeting swing members of Congress with costly ad campaigns. Over the coming week, as the House gears up to take a final, deciding vote on reform, issue-ad spending by corporations, trade groups, unions and advocacy organizations may top $24 million, adding to the estimated $200 million that has already been spent on health care advocacy ads. "We are going to be at parity with the other guys in spending for the week," said a pro-reform organizer who had been monitoring...
...state campaign slated to cost between $4 million and $10 million. Another conservative group, the American Future Fund, is running ads in 18 House districts that compares health care reform to a pig wearing lipstick before flashing a phone number. America's Health Insurance Plans, the industry trade group, has its own television campaign. Another secretive group called the League of American Voters, which works with former Bill Clinton adviser Dick Morris, is running additional ads targeting Democrats who may support "[President] Obama and [House Speaker] Pelosi's health care takeover." (See the top 10 players in health care reform...
...exchange rate" for its currency, the renminbi. But the policies that Wen was criticizing are in many respects what China has pursued for years. The renminbi has been pegged against the dollar since mid-2008, and overseas economists say the currency may be undervalued by as much as 40%. Trade is a key component of economic growth for China, the world's largest exporter, and the government is wary of any sort of collapse that could contribute to unemployment. Efforts to boost exports, including the currency peg, helped Chinese manufacturers weather the worst of the global downturn last year...
...trade looms even larger as a source of tension between the two sides. Last year, China's economy expanded at a robust 8.7% despite the global downturn. As the U.S. and other nations struggle to resume growth and reduce high unemployment, they are eyeing China's performance with both envy and agitation. In April, the U.S. Treasury Department will be required by law to declare whether China manipulates its currency - an announcement that could fuel calls in Congress for retaliatory measures against the nation...
...even using forceful methods to compel a country to raise the value of its currency," he said. He also worried openly about the value of China's dollar-denominated assets, including $895 billion in U.S. Treasury debt. He warned the U.S. not to depreciate its currency to boost trade, as it would hurt the value of Chinese-held assets. The U.S. depends on China's Treasury purchases to fund its budget deficit, which is forecast to exceed $1.5 trillion this year. Still, U.S. lawmakers are unlikely to give much credence to Wen's statement that he doesn't understand...