debt ceiling

The Facts About China’s Currency, Chinese Subsidies, and American Jobs: There is great concern in the U.S. about Chinese currency policy costing American jobs. But over two decades, there has been no evidence that a weak yuan causes high American unemployment. What American policymakers should focus on is other Chinese actions that do harm the U.S. and the entire global economy, particularly China’s market-distorting and anti-competitive subsidies. Heritage Foundation Asia economic policy expert Derek Scissors explains why the U.S. must identify and measure Chinese subsidies as the necessary first step in reducing the damage they cause.