Panel Urges Action vs. China on Trade

[OhioChick]

Congressional Advisory Panel's Report Urges Tough Action Against China's Economic Practices
By FOSTER KLUG

WASHINGTON Oct 28, 2006 (AP)— A congressional advisory panel's draft report is urging lawmakers to push for tough action against China on two festering trade disputes: intellectual property protection and Washington's view that China's currency is undervalued.

Recommendations in a draft of the annual report by the U.S.-China Economic and Security Review Commission, obtained by The Associated Press, deal with complaints by American manufacturers that Beijing's artificially low currency makes Chinese goods cheaper in the United States and American products more expensive in China.

U.S. lawmakers and companies also say a flood of pirated movies, computer programs and other copyrighted material in China has cost thousands of American jobs and hindered the U.S. economy's ability to compete.

Congress should urge the Bush administration to press complaints against China at the World Trade Organization for what the panel called a massive intervention by Beijing in international currency markets, the report said. The commission is calling for another WTO case against China for what it said was a failure to enforce intellectual property rights.

http://abcnews.go.com/Business/wireStory?id=2612880

[LynnTheDem]

1. China to USA:

"Sit down and just shut up."