Has Beijing been stealing U.S. jobs?

o One is largely political and charges China with using an undervalued currency to snare American jobs. It may well die down after the U.S. presidential elections in November 2004.
o The second has more serious long-term implications because the U.S. business community is growing more impatient in its calls on Beijing to do more to meet its pledges.
· Currency debates
o The reports by the two key business groups--which last year showed more patience with Beijing's difficulties in complying--followed a surge of criticism by American politicians and corporate leaders blaming China for the loss of 2.7 million industrial jobs in the past three years.
o They charge Beijing with keeping its currency undervalued, giving China an unfair export advantage that led to a record U.S. trade deficit of more than $100 billion last year.
o The renminbi (Beijing $) is pegged to the dollar, so the U.S. currency's slide this year has made Chine...