THE BLOG
06/22/2010 05:12 am ET | Updated May 25, 2011

China vs. U.S. Workers: China Is Winning

Yesterday, the Senate Banking Committee held a hearing to examine "the impact of China's exchange rate practices on U.S. manufacturing"

Many experts will testify. I offer some pictures that might help.

1. Is China manipulating its currency? Yes:

2010-04-22-Chinacurrencymanipulation.JPG
Source: Yuan. Broad Dollar Index (Federal Reserve's weighted average of exchange values of U.S. dollar against the currencies of 26 major U.S. trading partners.


2. Does this have an impact on American manufacturing? Yes.

2010-04-22-ManufacturingjobdeclineChina.jpg
Source: Bureau of Labor Statistics

Any questions?