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© 2010 American Chamber of Commerce in Shanghai Blog
With a vote expected this week in the House on the Ryan-Murphy bill (Currency Reform for Fair Trade Act) that would allow the U.S. to impose tariffs on countries that undervalue their currency, the AmCham Shanghai-led delegation began its annual Washington, D.C. Doorknock.
While AmCham Shanghai agrees China’s currency is undervalued, it is our position that legislation meant to force RMB revaluation won’t create American jobs and could in fact have the opposite effect.
During the first day of meetings, AmCham Shanghai communicated its message that the key to creating and supporting high-paying jobs in the United States requires increasing U.S. export promotion in China, which is the world’s fastest-growing market, while at the same time, continuing to press China for full market access.
The Doorknock delegation, including AmCham Shanghai President Brenda Foster, Chairman Robert Roche and Doorknock Chair Phillip E. Branham, with Clyde Prestowitz, president of the Economic Strategy Institute
Today’s meetings included a breakfast with Erin Ennis, vice president of the US-China Business Council, where the delegation discussed the political environment in Washington, D.C. as well as ways U.S. exports to China can create and support new jobs at home. Delegation members also met with Clyde Prestowitz, president of the Economic Strategy Institute and Ambassador Carla Hills of Hills & Company to discuss the U.S.-China commercial relationship.
A group of delegates also visited the U.S. Capitol to meet with Senator Dan Inouye (D-HI), president pro tempore of the U.S. Senate who also serves as chairman of the Senate Committee on Appropriations. The delegates engaged Sen. Inouye on the merits of increasing U.S. exports to countries like China and discussed the potential impact of the pending currency legislation.
The Doorknock delegation speaks to Senator Dan Inouye (D-HI)
AmCham Shanghai delegates also engaged two of the premier think tanks in Washington, D.C. to ensure that the on-the-ground experience of American companies in China is clearly communicated in the nation’s capital. Delegates met with Kenneth Lieberthal, director of the John L. Thornton China Center at the Brookings Institution and Nicholas Lardy, senior fellow at the Peterson Institute for International Economics to discuss the future of the U.S.-China commercial relationship and the impact of economic policies in both nations.
A traditional “D.C. doorknock” consists of 3-4 days on the Hill jam-packed with meetings with Members of Congress and their staff. AmCham’s doorknock was certainly no exception; we had more than 40 meetings on the Hill including sit-downs with congressional leaders from both sides of the aisle in the House and the Senate. However, early on the planning process it was decided that on this doorknock we would also target key China policy experts working in highly influential D.C. think tanks. Well known in policy circles, think tanks are often critical to developing U.S. government policy on a range of issues and populated with former (and future) Administration officials with strong connections to key government decision makers. For AmCham Shanghai, meeting with these organizations and developing longer term relationships is a part of our effort to ensure the voice of American business in China is being heard at the highest levels in Washington, D.C.
During our trip, the delegation met with the Peterson Institute, led by C. Fred Bergston, a former Ass’t Secretary of Treasury credited with driving the “G-2” (China and the U.S.) concept. Delegates also met with Charles Freeman of the Center for Strategic and International Studies. Formerly the US Trade Representative for Greater China, Charles is a long time friend of AmCham Shanghai. And finally we met with the Brookings Institute led by well known China expert and author, Ken Lieberthal.
For a run-down on Monday’s discussion at Brookings, please see the post – A Roundtable with Brookings.
