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China's Industrial Policy ' Not its Currency Policy ' Threatens American Competitiveness

By ALM Staff | Law Journal Newsletters |
July 31, 2006

Over the last 6 months, China has embarked on a series of economic policies that, taken together, shed light on what may be the beginnings of an industrial policy aimed at increasing competitiveness in high-technology industries. Surprisingly, this effort has all taken place without much notice inside Washington, where politicians exaggerate the effect of China's overvalued currency on U.S. competitiveness while ignoring a possibly more profound transition in the Chinese economy.

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