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 Country: China
 Collection: Congressional Research Service Reports
China and the CNOOC Bid for Unocal: Issues for Congress
The bid by the China National Offshore Oil Corporation (CNOOC) to acquire the U.S. energy company Unocal for $18.5 billion raised many issues with U.S. policymakers. This report provides an overview and analysis of the CNOOC bid, U.S. interests, implications for U.S. energy security, U.S. investment in the PRC’s (People’s Republic of China’s) oil industry, the process for reviewing the security and other implications of foreign investment in the United States, Congressional activity, and a listing of unresolved issues. digital.library.unt.edu/ark:/67531/metacrs8476/
China and the CNOOC Bid for Unocal: Issues for Congress
The bid by the China National Offshore Oil Corporation (CNOOC) to acquire the U.S. energy company Unocal for $18.5 billion raised many issues with U.S. policymakers. This report provides an overview and analysis of the CNOOC bid, U.S. interests, implications for U.S. energy security, U.S. investment in the PRC’s (People’s Republic of China’s) oil industry, the process for reviewing the security and other implications of foreign investment in the United States, Congressional activity, and a listing of unresolved issues. digital.library.unt.edu/ark:/67531/metacrs7905/
China and the Global Financial Crisis: Implications for the United States
This report discusses the economy of China and how it is has been affected by the recent economic downturn. China has recently enjoyed one of the world's fastest-growing economies and has been a major contributor to world economic growth, but several Chinese industries have been hard by the crisis, and millions of workers have been laid off. This report explores this issue in brief, including what actions the Chinese government is taking to combat the problem, as well as what actions China may take to assist in stabilizing the U.S. economy. digital.library.unt.edu/ark:/67531/metadc26347/
China and the Global Financial Crisis: Implications for the United States
Over the past several years, China has enjoyed one of the world's fastest growing economies and has been a major contributor to world economic growth. However, the current global financial crisis threatens to slow China's economy. China is a major economic power and holds huge amounts of foreign exchange reserves, and thus it could play a major role in responding to the current crisis. For example, in an effort to help stabilize the U.S. economy, China might boost its holdings of U.S. Treasury securities, which would help fund the Federal Government's purchases of troubled U.S. assets. However, this could raise a number of issues and concerns for U.S. policymakers. digital.library.unt.edu/ark:/67531/metacrs10821/
China and the Global Financial Crisis: Implications for the United States
Over the past several years, China has enjoyed one of the world's fastest growing economies and has been a major contributor to world economic growth. However, the current global financial crisis threatens to slow China's economy. China is a major economic power and holds huge amounts of foreign exchange reserves, and thus it could play a major role in responding to the current crisis. For example, in an effort to help stabilize the U.S. economy, China might boost its holdings of U.S. Treasury securities, which would help fund the Federal Government's purchases of troubled U.S. assets. However, this could raise a number of issues and concerns for U.S. policymakers. digital.library.unt.edu/ark:/67531/metacrs10822/
China and the Multilateral Development Banks
Congress is currently considering appropriations for U.S. contributions to the World Bank and other multilateral development banks (MDBs) as well as separate legislation that would require U.S. representatives to these institutions to oppose all concessional loans to China. This report provides a brief analysis of China’s relationship with the MDBs to highlight some issues and help Members of Congress, congressional staff, and observers better understand the context for the current debates in Congress and the multilateral agencies. digital.library.unt.edu/ark:/67531/metacrs466/
China, the United States and the IMF: Negotiating Exchange Rate Adjustment
In recent years, the United States and other countries have expressed considerable concern that China’s national currency (the yuan or renminbi) is seriously undervalued. Some analysts say the yuan needs to rise by as much as 40% in order to reflect its equilibrium value. Critics say that China’s undervalued currency provides it with an unfair trade advantage that has seriously injured the manufacturing sector in the United States. Chinese officials counter that they have not pegged the yuan to the dollar in order to gain trade advantages. Rather, they say the fixed rate promotes economic stability that is vital for the functioning of its domestic economy. digital.library.unt.edu/ark:/67531/metacrs9142/
China-U.S. Trade Issues
This report discusses the U.S.-China economic relationship and China's rapid expansion as a global economic market, both with respect to the current global economic crisis. It also examines major U.S.-China trade issues and related legislation. digital.library.unt.edu/ark:/67531/metadc94052/
China-U.S. Trade Issues
This report discusses the U.S.-China economic relationship and China's rapid expansion as a global economic market, both with respect to the current global economic crisis. It also examines major U.S.-China trade issues and related legislation. digital.library.unt.edu/ark:/67531/metadc40211/
China-U.S. Trade Issues
This report discusses the U.S.-China economic relationship and China's rapid expansion as a global economic market, both with respect to the current global economic crisis. It also examines major U.S.-China trade issues and related legislation. digital.library.unt.edu/ark:/67531/metadc26239/
China-U.S. Trade Issues
Report that discusses the U.S.-China economic relationship and China's rapid expansion as a global economic market, both with respect to the current global economic crisis. It also examines major U.S.-China trade issues and related legislation. digital.library.unt.edu/ark:/67531/metadc228037/
China's Currency: A Summary of the Economic Issues
Many Members of Congress charge that China's policy of accumulating foreign reserves (especially U.S. dollars) to influence the value of its currency constitutes a form of currency manipulation intended to make its exports cheaper and imports into China more expensive than they would be under free market conditions. Although China made modest reforms to its currency policy in 2005, Members contend the forms have not gone far enough and have warned of potential legislative action. This report summarizes the main findings CRS Report RL32165, China's Currency: Economic Issues and Options for U.S. Trade Policy. digital.library.unt.edu/ark:/67531/metacrs10596/
China's Currency: A Summary of the Economic Issues
Many Members of Congress charge that China's policy of accumulating foreign reserves (especially U.S. dollars) to influence the value of its currency constitutes a form of currency manipulation intended to make its exports cheaper and imports into China more expensive than they would be under free market conditions. Although China made modest reforms to its currency policy in 2005, Members contend the forms have not gone far enough and have warned of potential legislative action. This report summarizes the main findings CRS Report RL32165, China's Currency: Economic Issues and Options for U.S. Trade Policy. digital.library.unt.edu/ark:/67531/metacrs10597/
China's Currency: A Summary of the Economic Issues
This report explores various aspects of the Chinese economy, including specific policies that some Members of Congress consider a form of currency manipulation, the U.S.-China economic relationship, and the state of the Chinese economy with respect to the current global economic crisis. digital.library.unt.edu/ark:/67531/metacrs8782/
China's Currency: A Summary of the Economic Issues
This report explores various aspects of the Chinese economy, including specific policies that some Members of Congress consider a form of currency manipulation, the U.S.-China economic relationship, and the state of the Chinese economy with respect to the current global economic crisis. digital.library.unt.edu/ark:/67531/metadc26318/
China's Currency: Brief Overview of U.S. Opinions
Many are concerned that China’s currency is undervalued and that this injures the U.S. economy. The Chinese authorities say they are not manipulating their currency and they want to move as soon as possible to a market-based yuan. A new exchange rate procedure was announced in July 2005 but has not resulted in meaningful changes in the yuan’s international value. This report reviews the issues and discusses alternative approaches the United States might take to encourage more rapid reform. digital.library.unt.edu/ark:/67531/metacrs7951/
China's Currency: Economic Issues and Options for U.S. Trade Policy
When the U.S. runs a trade deficit with the Chinese, this requires a capital inflow from China to the United States. This, in turn, lowers U.S. interest rates and increases U.S. investment spending. On the negative side, lower priced goods from China may hurt U.S. industries that compete with those products, reducing their production and employment. In addition, an undervalued yuan makes U.S. exports to China more expensive, thus reducing the level of U.S. exports to China and job opportunities for U.S. workers in those sectors. However, in the long run, trade can affect only the composition of employment, not its overall level. Thus, inducing China to appreciate its currency would likely benefit some U.S. economic sectors, but would harm others, including U.S. consumers. Several estimates of the yuan’s undervaluation are evaluated in the report. digital.library.unt.edu/ark:/67531/metacrs8766/
China's Currency Peg: A Summary of the Economic Issues
This report evaluates that assertion, and considers other effects China’s peg has on the U.S. economy. These include the beneficial effects on consumption, interest rates, and investment spending. Nationwide, these effects should offset job loss in the trade sector, at least in the medium term. Several bills have been introduced in the 109th Congress to address China’s currency policy, including H.R. 1216, H.R. 1498, H.R. 1575, S. 14, S. 295, S. 377, and S. 593; some would impose trade sanctions against China unless it accepted a market-based system of currency valuation. digital.library.unt.edu/ark:/67531/metacrs8739/
China’s Currency: U.S. Options
In recent years, the United States and China have disagreed whether China’s national currency, the yuan or renminbi, is properly valued compared to the U.S. dollar and whether China is manipulating its currency.1 The United States has pushed China to raise the value of its currency. Chinese officials say they want to make their exchange rate system more flexible, but China also needs long-term stability in its currency value in order to avoid dislocations. Chinese officials also say they will not bow to foreign pressure. China announced a new exchange rate procedure on July 21, 2005. This report summarizes this controversy, it describes actions and positions taken by the United States, China and other countries, and it discusses various approaches the United States might use to address this concern. digital.library.unt.edu/ark:/67531/metacrs7298/
China's Exchange Rate Peg: Economic Issues and Options for U.S. Trade Policy
The continued rise in the U.S.-China trade imbalance and complaints from U.S. manufacturing firms and workers over the competitive challenges posed by cheap Chinese imports have led several Members to call for a more aggressive U.S. stance against certain Chinese trade policies they deem to be unfair, such as China’s policy of pegging its currency (the yuan) to the U.S. dollar. Some Members assert this policy constitutes a form of “currency manipulation” intended to give China an unfair trade advantage and is contributing to the loss of U.S. manufacturing jobs. digital.library.unt.edu/ark:/67531/metacrs6790/
China's Holdings of U.S. Securities: Implications for the U.S. Economy
This report examines the importance to the U.S. economy of China's investment in U.S. securities, as well as U.S. concerns over the possibility that China might unload a large share of those holdings, including the likelihood that this would occur, and the potential implications such action could have for the U.S. economy. The report concludes that a large sell-off of Chinese Treasury securities holdings could negatively affect the U.S. economy, at least in the short-run. As a result, such a move could diminish U.S. demand for Chinese products and thus could lower China's economic growth as well. digital.library.unt.edu/ark:/67531/metadc96796/
China's "Hot Money" Problems
China has experienced a sharp rise in the inflow of so-called "hot money," foreign capital entering the country supposedly seeking short-term profits, especially in 2008. Chinese estimates of the amount of "hot money" in China vary from $500 billion to $1.75 trillion. The influx of "hot money" is contributing to China's already existing problems with inflation. Efforts to reduce the inflationary effects of "hot money" may accelerate the inflow, while actions to reduce the inflow of "hot money" may threaten China's economic growth, as well as have negative consequences for the U.S. and global economy. digital.library.unt.edu/ark:/67531/metacrs10775/
China's Sovereign Wealth Fund: Developments and Policy Implications
China's ruling executive body, the State Council, established the China Investment Corporation (CIC), a sovereign wealth fund, in September 2007 to invest $200 billion of China's then $1.4 trillion in foreign exchange reserves. Congress and financial analysts raised concerns about the CIC after its creation, partly because it was a comparatively large sovereign wealth fund, partly because it was government-owned, and partly because it reported directly to the State Council. These concerns raise question about U.S. policies on inward foreign direct investment (FDI) and the global competitiveness of U.S. financial institutions. Certain commentators suggest that more should be done to protect the United States from China's rising role in international capital markets. digital.library.unt.edu/ark:/67531/metadc29612/
U.S. International Trade: Trends and Forecasts
This report discusses the U.S. trade deficit in light of the 2008 global financial crisis, with emphasis on international trade and U.S. trade policy, most recent developments in trade of goods and service, trade forecasts for the future, and how issues such as the U.S. trade deficit and international trade, particularly with China, are commonly perceived. digital.library.unt.edu/ark:/67531/metadc31414/
U.S. International Trade: Trends and Forecasts
This report discusses the U.S. trade deficit in light of the 2008 global financial crisis, with emphasis on international trade and U.S. trade policy, most recent developments in trade of goods and service, trade forecasts for the future, and how issues such as the U.S. trade deficit and international trade, particularly with China, are commonly perceived. digital.library.unt.edu/ark:/67531/metadc29678/
World Bank Lending to China
Lending to China from the multilateral development banks (MDBs) increased four-fold between 1985 and 1994, from $1.1 billion to $4.3 billion. China is now the MDBs' largest single borrower country. There is considerable debate today, however, whether the MDBs should continue lending to China. In particular, there is sharp debate whether the World Bank should continue making concessional loans to China. digital.library.unt.edu/ark:/67531/metacrs330/