HOUSE_OVERSIGHT_029738.jpg
1.63 MB
Extraction Summary
2
People
6
Organizations
2
Locations
1
Events
1
Relationships
5
Quotes
Document Information
Type:
Policy paper / report page (house oversight production)
File Size:
1.63 MB
Summary
This document page, marked with a House Oversight Bates stamp, appears to be an excerpt from a policy paper or testimony regarding international economics. The text discusses the risks of competitive devaluation and currency manipulation (referencing China), the need to withdraw from 'cheap money' policies, and the roles of the IMF and WTO in regulating exchange rates. The author, likely affiliated with the Peterson Institute, advocates for the U.S. to strengthen trade through the WTO and finalize aspects of the Doha Round negotiations.
People (2)
| Name | Role | Context |
|---|---|---|
| Unidentified Author | Author |
Refers to 'my colleagues at the Peterson Institute', suggesting the author is affiliated with that organization.
|
| Colleagues | Researchers/Economists |
Colleagues at the Peterson Institute referenced by the author regarding the Doha Round.
|
Organizations (6)
| Name | Type | Context |
|---|---|---|
| International Monetary Fund |
Suggested to act as a referee for exchange-rate policies.
|
|
| IMF |
Abbreviation for International Monetary Fund.
|
|
| World Trade Organization |
Suggested to help enforce agreements against currency manipulation.
|
|
| WTO |
Abbreviation for World Trade Organization.
|
|
| Peterson Institute |
Organization where the author's colleagues work; likely the Peterson Institute for International Economics.
|
|
| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'.
|
Timeline (1 events)
Doha Round of trade negotiations
International
WTO members
Relationships (1)
Author refers to 'my colleagues at the Peterson Institute'.
Key Quotes (5)
""Currency manipulation" could become a danger that reaches far beyond the debate about Chinese policies."Source
HOUSE_OVERSIGHT_029738.jpg
Quote #1
"The world economy will need at some point to withdraw the drug of cheap money and negative real interest rates."Source
HOUSE_OVERSIGHT_029738.jpg
Quote #2
"The IMF and the World Trade Organization should anticipate this risk and give effect to the existing WTO agreement that economies must "avoid manipulating exchange rates . . . to gain an unfair competitive advantage.""Source
HOUSE_OVERSIGHT_029738.jpg
Quote #3
"Third, the U.S. needs to break the logjam on opening markets."Source
HOUSE_OVERSIGHT_029738.jpg
Quote #4
"As my colleagues at the Peterson Institute have pointed out, there are gains from the stymied Doha Round of trade negotiations that should be harvested now"Source
HOUSE_OVERSIGHT_029738.jpg
Quote #5
Full Extracted Text
Complete text extracted from the document (1,281 characters)
any warning, the next tactic is
competitive devaluation, which risks a
new protectionism. "Currency
manipulation" could become a danger
that reaches far beyond the debate about
Chinese policies. The world economy
will need at some point to withdraw the
drug of cheap money and negative real
interest rates. The U.S. should anticipate
these dangers.
The International Monetary Fund also
could help set standards about exchange-
rate policies and serve as a referee that
blows a whistle, even if it cannot
penalize. The IMF and the World Trade
Organization should anticipate this risk
and give effect to the existing WTO
agreement that economies must "avoid
manipulating exchange rates . . . to gain
an unfair competitive advantage."
Third, the U.S. needs to break the logjam
on opening markets. As the leading world
economy, America should initially try to
strengthen and increase international
trade through the WTO. As my
colleagues at the Peterson Institute have
pointed out, there are gains from the
stymied Doha Round of trade
negotiations that should be harvested
now: ending agricultural export
subsidies; limiting food export controls;
eliminating tariffs and quotas for almost
all exports of the poorest countries;
facilitating customs and clearance
competitive devaluation, which risks a
new protectionism. "Currency
manipulation" could become a danger
that reaches far beyond the debate about
Chinese policies. The world economy
will need at some point to withdraw the
drug of cheap money and negative real
interest rates. The U.S. should anticipate
these dangers.
The International Monetary Fund also
could help set standards about exchange-
rate policies and serve as a referee that
blows a whistle, even if it cannot
penalize. The IMF and the World Trade
Organization should anticipate this risk
and give effect to the existing WTO
agreement that economies must "avoid
manipulating exchange rates . . . to gain
an unfair competitive advantage."
Third, the U.S. needs to break the logjam
on opening markets. As the leading world
economy, America should initially try to
strengthen and increase international
trade through the WTO. As my
colleagues at the Peterson Institute have
pointed out, there are gains from the
stymied Doha Round of trade
negotiations that should be harvested
now: ending agricultural export
subsidies; limiting food export controls;
eliminating tariffs and quotas for almost
all exports of the poorest countries;
facilitating customs and clearance
HOUSE_OVERSIGHT_029738
Discussion 0
No comments yet
Be the first to share your thoughts on this epstein document