China’s Currency: Brief Overview of U.S. Options

By Jonathan E. Sanford on November 29, 2005

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.

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Peony Lui
Topics: 
Economy
Keywords: 
Currency
Exchange Rates
Renminbi
Organization: 
Congressional Research Service

Internet Development and Information Control in the People’s Republic of China

By Michelle W. Lau on November 22, 2005

Since its founding in 1949, the People’s Republic of China (PRC) has often been accused of manipulating the flow of information and prohibiting the dissemination of viewpoints that criticize the government or stray from the official Communist party view. The introduction of Internet technology in the mid-1990s presented a challenge to government control over news sources, and by extension, over public opinion. While the Internet has developed rapidly and increased the daily convenience of many Chinese citizens, freedom of expression online, as in the media, is still significantly stifled. This report explains methods of Internet censorship and content control employed by the PRC government, as well as U.S. government efforts to promote Internet freedom in China.

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Peony Lui
Topics: 
Politics
Society
Technology
Keywords: 
Censorship
Freedom of Expression
Information Control
Internet
Surveillance
Organization: 
Congressional Research Service

U.S.-China Relations in the Wake of CNOOC

By James A. Dorn on November 2, 2005

CNOOC, a subsidiary of state-owned China National Offshore Oil Company, lost to Chevron in a bid to acquire Unocal. This loss did not occur because of Chevron's lower bid, but rather because of U.S. Congressional intervention that blocked the acquisition of the small U.S. energy company by a Chinese firm. This paper analyzes the U.S. government's protectionist policy disguised as national security and argues that although China’s competitiveness does pose a threat to certain U.S. economic interests, it also benefits American consumers and exporters. Protectionism would harm both the United States and China and would increase the likelihood of conflict. Hardliners would gain at the expense of more reasonable voices.

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Topics: 
Business
Energy
Keywords: 
Protectionism
Economy
Organization: 
Cato Institute