Resolved: The United States federal government should substantially increase its economic and/or diplomatic engagement with the People’s Republic of China


AC Solvency AT #3—Plan Takes Years



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2AC Solvency AT #3—Plan Takes Years

They say __________________________________________________, but

[GIVE :05 SUMMARY OF OPPONENT’S SINGLE ARGUMENT]


  1. Extend our evidence.

[PUT IN YOUR AUTHOR’S NAME]

It’s much better than their evidence because:

[PUT IN THEIR AUTHOR’S NAME]

[CIRCLE ONE OR MORE OF THE FOLLOWING OPTIONS]:

(it’s newer) (the author is more qualified) (it has more facts)

(their evidence is not logical/contradicts itself) (history proves it to be true)

(their evidence has no facts) (Their author is biased) (it takes into account their argument)

( ) (their evidence supports our argument)

[WRITE IN YOUR OWN!]
[EXPLAIN HOW YOUR OPTION IS TRUE BELOW]

__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

[EXPLAIN WHY YOUR OPTION MATTERS BELOW]

and this reason matters because: ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________


  1. Plan only takes a few months



Wall Street Journal, 2011 November 16, “Debate on Yuan Manipulation Moves to WTO” http://www.wsj.com/articles/SB10001424052970203503204577040133923921786
Brazil's government said Monday that the WTO had agreed to discuss the matter. The WTO on Tuesday confirmed that its 153 government members have agreed to hold a meeting on the topic, probably in the first half of next year, according to WTO spokesman Keith Rockwell. Governments are also likely to discuss the issue at a meeting next month of trade ministers in Geneva, Mr. Rockwell said. Brazil, which first raised the issue with the WTO in September, alleges the yuan's undervaluation is gravely damaging Brazil's industrial base. Though Brazil's economy is growing relatively quickly overall, the country's industrial production is now falling, partly due to a tide of cheaper Chinese goods. "Exchange-rate factors are devastating the productive structure of Latin American countries," Brazilian trade and industry minister Fernando Pimentel told reporters this week. Many countries, including the U.S., have long complained that China's weak currency gives it an unfair advantage in selling its goods around the world. Many economists say China's currency policy has contributed to its large trade surpluses by keeping the yuan undervalued. But the question of whether the policy violates WTO rules will hinge on the minutiae of international trade law, experts say.

Currency Manipulation NEGATIVE



1NC Inherency Frontline

  1. The affirmative is the status quo. We are already taking steps to resolve China’s manipulation of their currency.



Cox, May 2016 Jeff, finance editor CNBC, “The US just dropped the hammer on currency manipulation” http://www.cnbc.com/2016/05/02/the-us-just-dropped-the-hammer-on-currency-manipulation.html
The U.S. government is sending a message to countries it believes are manipulating their currencies: We're watching you. A Treasury report targets five countries in particular: China, Japan, Korea, Taiwan and Germany. Each meets at least two of the three criteria that "determine whether an economy may be pursuing foreign exchange policies that could give it an unfair competitive advantage against the United States." At a time when currency devaluation has become a major tool used by multiple countries to stimulate growth, the U.S. is looking to protect its own interests. The report is an outgrowth of the Trade Facilitation and Trade Enforcement Act of 2015, a bipartisan effort aimed at stemming the global race to the bottom. The criteria to determine whether a country should be on the "Monitoring List" of countries using unfair currency practices are: a trade surplus of larger than $20 billion, or 0.1 percent of U.S. GDP; a trade surplus with the U.S. that is more than 3 percent of that country's GDP; "persistent one-sided intervention," defined as purchases of foreign currency amounting to more than 2 percent of the country's GDP in a one-year period. No country meets all three criteria, according to the report, though the five on the list meet at least two. The act directs the president to engage each individual country on the list and tell it "to adopt appropriate policies to correct its undervaluation and external surpluses." If the countries in question do not act, the president can enact a variety of penalties, including cutting off the offending countries from Overseas Private Investment Corp. funding; asking the International Monetary Fund, which is charged with preventing currency manipulation, to step in; or reconsider whether the offending country should be engaged in trade agreements. China came under harsh criticism when it devalued in August. The Treasury report notes China has "intervened heavily" in forex markets, and the issue has become political as well, with Republican presidential front-runner Donald Trump frequently bemoaning China's undercutting of the U.S. dollar

  1. China is not manipulating their currency. Countries routinely inflate and deflate the value of their currency.



Slaughter, January 2016 Matthew, Paul Danos Dean of the Tuck School and the Earl C. Daum 1924 Professor of International Business at Dartmouth College, Jan. 8, “The Myths of China’s Currency ‘Manipulation” http://www.wsj.com/articles/the-myths-of-chinas-currency-manipulation-1452296887
Global equity markets have experienced steep declines since the new year, and many assert the devaluation of the yuan by the People’s Bank of China is a major cause of this week’s turmoil. These devaluations have fueled long-standing outcries that China is playing dirty. Presidential hopeful Donald Trump, for example, recently claimed on these pages that “the wanton manipulation of China’s currency” is “robbing Americans of billions of dollars of capital and millions of jobs.” To cut through all the hyperbole, the mechanics and consequences of China’s exchange-rate regime need to be understood—not only for this week but also for the coming year, when the yuan will be debated in the context of other issues such as the Trans-Pacific Partnership. Here are three essential points. First: The legal monopoly power to create money that each central bank enjoys allows it to fix one nominal price—which can legitimately be an exchange rate—to achieve policy goals such as price stability or full employment. Today many central banks choose to fix a nominal interest rate. The U.S. Federal Reserve targets the federal-funds rate, the interest banks charge each other for overnight loans. The European Central Bank targets the rate on the “marginal lending facility,” its version of that overnight market. Other central banks fix a nominal exchange rate; China’s central bank, for example, for years fixed the yuan-U.S. dollar rate and since last month fixes the yuan price of a basket of 13 currencies (in which the dollar still figures prominently). Opinion Journal Video Business World Columnist Holman Jenkins Jr. analyzes the economic factors, from China’s debt to the oil price, influencing market moves. Currency devaluation or revaluation is a common exercise of sovereign monetary policy. During the post-World War II Bretton Woods regime, dozens of countries pegged their currencies to the dollar while, in turn, the Fed pegged $35 to an ounce of gold. Reasonable people can and do disagree about how countries conduct their monetary policies: what price should the central bank fix, or at what pace should that fix evolve. But to label as manipulation the conduct of monetary policy itself betrays a fundamental confusion about the operation and goals of central banks. If Zhou Xiaochuan, governor of the People’s Bank of China, is a currency manipulator, then Janet Yellen is an interest-rate manipulator.


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