CCTV.com - CNTV English - CCTV News

Romney's stance on China debated

08-31-2012 03:05 BJT

It is common knowledge that the economy is foremost in US voters' minds as the 2012 presidential and congressional elections approach. Less clear is the domestic economic impact of international trade, especially with China and Latin America, according to experts attending this week's Republican National Convention.

At the same time, trade between the United States and China has been politicized this election year despite the risks of harming the lucrative relationship between the world's two biggest economies.

Mitt Romney, who was formally nominated on Tuesday at the Republican convention in Tampa, Florida, has been outspoken in his views on China. The former Massachusetts governor and co-founder of private-equity firm Bain Capital has accused President Barack Obama of lacking toughness in handling trade issues with China. Romney claims renminbi is kept artificially cheap, giving Chinese exports an unfair advantage over US goods.

John Engler, a former Michigan governor and now president of the pro-trade Business Roundtable, said on Tuesday that the US must contend with other aspects of trade policy, including free-trade agreements with other countries. Currency undervaluation is "not just a China problem", he said.

"China is exacerbated because of the size of the trade volume that flows back and forth," Engler said during a panel discussion on trade inside the convention arena.

Romney has vowed several times during the campaign that he would label China a "currency manipulator" on his first day in office if he's elected.

Participants on the panel, which was organized by financial news provider Bloomberg LP and the convention's Tampa Bay Host Committee, questioned that pledge, however. Several said Romney either wouldn't attempt to make such a move immediately as president or, more likely, that it's merely "campaign rhetoric".

"It would be a delicate challenge for the Romney administration," said Engler, adding that there are "many other urgent issues".

Editor:James |Source: China Daily

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program