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 Collection: Congressional Research Service Reports
The Future Role of U.S. Trade Policy: An Overview

The Future Role of U.S. Trade Policy: An Overview

Date: July 14, 2008
Creator: Morrison, Wayne M. & Cooper, William M.
Description: The United States has become increasingly integrated with the rest of the world economy. This integration has offered benefits and presented challenges to U.S. business, agriculture, labor, and consumers. Those who can compete in the more integrated economy have enjoyed opportunities to broaden their success, while those who are challenged by increased foreign competition have been forced to adjust and some have exited the market or relocated overseas. Some observers contend that, in order to remain globally competitive, the United States must continue to support trade liberalization policies, while assisting those hurt by trade. Others have raised doubts over whether free trade policies benefit the U.S. economy. This report provides an overview and background on the debate over the future course of U.S. trade policy.
Contributing Partner: UNT Libraries Government Documents Department
Foreign Investment and National Security: Economic Considerations

Foreign Investment and National Security: Economic Considerations

Date: June 27, 2008
Creator: Jackson, James K.
Description: This report assesses recent international developments as the leaders from a number of nations work to reach a consensus on an informal set of best practices regarding national restrictions on foreign investment for national security purposes. This report also provides one possible approach for assessing the costs and benefits involved in using national policies to direct, or to restrict, foreign direct investment for national security reasons.
Contributing Partner: UNT Libraries Government Documents Department
China's Currency: Economic Issues and Options for U.S. Trade Policy

China's Currency: Economic Issues and Options for U.S. Trade Policy

Date: May 22, 2008
Creator: Morrison, Wayne M. & Labonte, Marc
Description: This paper reviews the various economic issues raised by China's present currency policy, including: the economic concerns raised by the United States over China's currency policy and China's concerns over changing that policy; how China's fixed exchange rate regime works and the various economic studies that have attempted to determine China's real, or market, exchange rate; trends and factors in the U.S.-China trade imbalance; economic consequences of China's currency policy for both China and the United States; China's massive accumulation of foreign exchange reserves and purchases of U.S. federal debt instruments; and policy options on how the United States might induce China to reform its present currency policy, including current legislation introduced in Congress.
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The Overseas Private Investment Corporation: Background and Legislative Issues

The Overseas Private Investment Corporation: Background and Legislative Issues

Date: May 22, 2008
Creator: Langton, Danielle
Description: This report outlines challenges faced by Tajikistan since its five-year civil war ended in 1997. It discusses U.S. policy and assistance. Basic facts and biographical information are provided. This report may be updated. Related products include CRS Report RL33458, Central Asia: Regional Developments and Implications for U.S. Interests, updated regularly.
Contributing Partner: UNT Libraries Government Documents Department
U.S. Taxation of Overseas Investment and Income: Background and Issues

U.S. Taxation of Overseas Investment and Income: Background and Issues

Date: May 21, 2008
Creator: Marples, Donald J.
Description: This report analyzes how the current U.S. tax system applies to foreign investment undertaken by U.S. firms abroad, and how that application was changed by recent legislation. It also assesses the impact of the tax system and legislation, and concludes by discussing a variety of issues in international taxation that Congress may face in 2008 and beyond. It begins with a brief examination of the data on international investment.
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China's Currency: A Summary of the Economic Issues

China's Currency: A Summary of the Economic Issues

Date: May 8, 2008
Creator: Morrison, Wayne M. & Labonte, Marc
Description: 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.
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Currency Manipulation: The IMF and WTO

Currency Manipulation: The IMF and WTO

Date: May 8, 2008
Creator: Sanford, Jonathan E.
Description: The International Monetary Fund (IMF) and World Trade Organization (WTO) approach the issue of "currency manipulation" differently. The IMF Articles of Agreement prohibit countries from manipulating their currency for the purpose of gaining unfair trade advantage, but the IMF cannot force a country to change its exchange rate policies. The WTO has rules against subsidies, but these are very narrow and specific and do not seem to encompass currency manipulation. Several options might be considered for addressing this matter in the future, if policymakers deem this a wise course of action.
Contributing Partner: UNT Libraries Government Documents Department
The Multilateral Debt Relief Initiative

The Multilateral Debt Relief Initiative

Date: April 1, 2008
Creator: Weiss, Martin A.
Description: In Juen 2005, G8 finance ministers proposed the new Multilateral Debt Relief Initiative (MDRI). The MDRI proposes to cancel debts of some of the world's poorest countries owed to the International Monetary Fund, World Bank, and African Development Bank. This report discusses MDRI's implementation and raises some issues regarding debt relief's effectiveness as a form of foreign assistance for possible congressional consideration.
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China's Holdings of U.S. Securities: Implications for the U.S. Economy

China's Holdings of U.S. Securities: Implications for the U.S. Economy

Date: February 27, 2008
Creator: Morrison, Wayne M. & Labonte, Marc
Description: 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.
Contributing Partner: UNT Libraries Government Documents Department
U.S. Direct Investment Abroad: Trends and Current Issues

U.S. Direct Investment Abroad: Trends and Current Issues

Date: January 19, 2007
Creator: Jackson, James K
Description: None
Contributing Partner: UNT Libraries Government Documents Department