Should U.S. Deem China A Currency Manipulator?
The Romney campaign has accused the Obama administration of being too soft on China. Critics of China's trade policy say Beijing keeps its exchange rate artificially low in order to make Chinese products cheaper than products made in the U.S., thus giving China an unfair trade advantage. President Obama, like his predecessors, has declined to identify China officially as a "currency manipulator," saying that designation would have no beneficial effect and could spark a new trade war. Governor Romney says he would reverse that policy on his first day in office. We take a look at what that would mean.