For Immediate Release: Monday, September 20, 2010
Contact: Phoebe Silag or Karen Conner, email@example.com 202-775-8810
Growing China trade deficits have contributed to the weak performance of the U.S. job market this year, and they could push the United States back into recession if the labor market weakens in the future, according to a new report released today by the Economic Policy Institute.
“Ending currency manipulation can stimulate the job creation at no cost to the Treasury,” said EPI’s Robert Scott, author of Rising China Trade Deficit Will Cost One-Half Million U.S. Jobs in 2010. “It would help rebuild demand for U.S. manufactured goods, create more than 1 million U.S. jobs, stimulate U.S. GDP growth and reduce the U.S. budget deficit by up to $500 billion over the next six years.”