Maybe. Governor Romney has stated that he will declare China a currency manipulator on Day One, should he be elected President. In contrast to his other policy positions – from tax rates on the upper incomes, defense spending, coverage of pre-existing health conditions, the Blunt Amendment, Afghanistan timetable, first strike on Iran – he has exhibited remarkable (and pretty unique) constancy in his desire to call China a currency manipulator. In fact, one can find news reports from 2007 onward attesting to this long-standing stance [1], [2], [3]; so if there is any promise we should believe he will follow through on, it’s this one. And from Believe In America: Mitt Romney’s Plan for Jobs and Economic Growth (under “Day One”), it is:
Author Archives: Menzie Chinn
Guest Contribution: How “Different” is the Recovery from the Financial Crisis?
By David Papell and Ruxandra Prodan
Today, we’re fortunate to have David Papell and Ruxandra Prodan, Professor and Clinical Assistant Professor of Economics at the University of Houston, as Guest Contributors
Enter the Asterisk
The magic asterisk, that is (With apologies to Bruce Lee [0] and David Stockman). How the circle can be squared, in the Romney tax plan: assume a massive supply side response! [1]
To Make the Math Add Up, Romney Needs Ryanomics
Or more precisely, Ryanomics as interpreted by the Heritage Foundation/Center for Data Analysis.
Against a Sea of Enemies: China as Currency Manipulator
One of the interesting things about the presidential debate tonight was the prominence of China. Governor Romney repeated his insistence that he would declare China a currency manipulator “on day one”. (I am surprised he didn’t mention the “yellow peril”.) If his criterion is forex intervention, he should be prepared to declare many other countries manipulators as well.
China and the Middle Income Trap
Fated to a big trend slowdown?
If You Want Faster Growth…
From the Foreign Policy survey: The Economy (released today):
Watergate! Iran-Contra! BLS 2012.10.5?
Paranoia and Conspiracy Theory in a Time of Excel
International Finance and Open Economy Macro
Michael Hutchison, Professor of Economics at UC Santa Cruz, and Helen Popper, Professor of Economics at Santa Clara University, have organized the West Coast Workshop on International Finance and Open Economy Macroeconomics, taking place on Friday, October 19th. Those interested in thinking in a serious fashion about international should take a look.
Average Monthly Employment Growth Revised Up
With the September employment release, average monthly employment figures over the last four months is 120.5 thousand, versus the three month average as of the August release of 94 thousand. Furthermore, taking into account the preliminary benchmark revision for March 2012, one sees that not only is the trajectory higher, so too is the level of employment.