G2TT
来源类型Policy Brief
规范类型简报
来源IDPolicy Brief14-2
Addressing Currency Manipulation Through Trade Agreements
C. Fred Bergsten
发表日期2014
出版年2014
语种英语
摘要

Currency manipulation—governments of foreign countries intervening to suppress the value of their currencies to lower the prices of their exports and increase the prices of their imports—has vexed the United States for many years. Because most of the intervention takes place in US dollars, the dollar has been pushed to systemically overvalued levels. The US current account deficit has averaged $200 billion to $500 billion per year higher as a result of the manipulation. Several other countries, including the weak euro area economies, emerging-market countries such as Brazil and India, and many small and poor countries, have also suffered the ill effects of currency manipulation. In light of large and widespread trade effects, Bergsten calls for addressing the issue through trade agreements, especially when the International Monetary Fund and other institutions have failed to resolve it for so long. He recommends adding a currency chapter in the Trans-Pacific Partnership (TPP), which is currently under negotiation and could be the earliest trade agreement to come before Congress for approval. Including clear obligations to avoid currency manipulation in the TPP and other future trade agreements, along with an effective dispute settlement mechanism and sanctions against violators, would very likely deter future manipulation.

主题United States ; Currency Manipulation ; International Monetary Fund ; Disputes ; Free Trade Agreements ; Trade Policy
URLhttps://www.piie.com/publications/policy-briefs/addressing-currency-manipulation-through-trade-agreements
来源智库Peterson Institute for International Economics (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/454822
推荐引用方式
GB/T 7714
C. Fred Bergsten. Addressing Currency Manipulation Through Trade Agreements. 2014.
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