Geithner to appear before Senate panel on China

The Economic Policy Institute (EPI) recently reported that the Chinese government's manipulation of its currency has caused the loss of 2.4 million jobs in manufacturing and other trade-related industries between 2001 and 2008. U.S. workers also experienced lower wages because competition from lower wage countries, like China, were undercutting the cost of goods sold by U.S. companies.

Finance members like Chairman Max BaucusMax Sieben BaucusClients’ Cohen ties become PR liability Green Party puts Dem seat at risk in Montana Business groups worried about Trump's China tariffs plan MORE (D-Mont.), ranking member Chuck Grassely (R-Iowa) and senior committee members like Sen. Charles SchumerCharles (Chuck) Ellis SchumerOvernight Health Care — Presented by the Association of American Medical Colleges — Trump officials move to expand non-ObamaCare health plans | 'Zero tolerance' policy stirs fears in health community | New ObamaCare repeal plan Selling government assets would be a responsible move in infrastructure deal Ignore the naysayers trying to disrupt US diplomacy with North Korea MORE (D-N.Y.) have supported legislation deeming China a currency manipulator. 

Last April, Geithner delayed issuing a semi-annual foreign exchange report that would have labeled the country a manipulator because it would likely have damaged relations between the United States and the Asian country.  

EPI predicts that ending China's currency manipulation would help create at least 1 million U.S. jobs within the next few years.