Schumer Undervalues Trade with China | Daniel Griswold | Cato Institute: Commentary

Schumer Undervalues Trade with China | Daniel Griswold | Cato Institute: Commentary: "We run a large bilateral deficit with China not because of an undervalued yuan, but because China specializes in making consumer goods — such as shoes, clothing, toys and household appliances — that American consumers love to buy. Because of our low national savings rate, we in turn offer attractive assets, such as Treasury bills, that the Chinese are equally eager to buy from us."