Division and diversion help the one percent capture government, securing policies that further enrich the rich, like trickle-down economics under which no benefits ever actually descend, bailouts for Wall Street but not Main Street and job-destroying trade deals like NAFTA and the proposed Trans-Pacific Partnership.
Currency manipulation has become our trade competitors' favorite maneuver for skirting massive trade deals as soon as they sign them, and it's about to happen again. The result of currency manipulation, as it occurs after trade agreements, is that it's nearly impossible for the U.S. to get a fair shake in these deals.
What are President Obama's goals in the international trade area when President Xi visits the United States next week? I worry that there is not one among them that will change the U.S. trade picture. And unfortunately, when we look at the trade relationship with China, there is much that needs to be changed.