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The China Currency Issue: Why The World Trade Organization Would Fail To Provide The United States With An Effective Remedy, Marcus Sohlberg
The China Currency Issue: Why The World Trade Organization Would Fail To Provide The United States With An Effective Remedy, Marcus Sohlberg
Cornell Law School Inter-University Graduate Student Conference Papers
A critical issue in the global trading system that came to the forefront in 2010 concerns exchange rates. Having suffered to various degrees through the worst economic and financial downturn since the Great Depression, many large trading nations have sought to achieve economic recovery through export-led growth. In order to boost international competitiveness, many have engaged in competitive devaluations, i.e. interventions in currency markets to devalue domestic currency. According to Brazilian Finance Minister Guido Mantega this situation has escalated into a “global currency war”.
This paper focuses on China’s practice of maintaining an artificially undervalued currency, and addresses the question …