The Many Definitions of Reserve Currency and the Ceaseless Resulting Confusion

By Ken Austin[1] When I was in grad school, the dollar’s reserve currency status meant something very specific – foreign central banks bought and sold dollar assets to fix (manipulate) their exchange rates. They accumulated dollars when they wished to keep their currencies depreciated to favor their export industries. Let’s call this role “Central Bank Reserve Currency”(CBRC).…

Details
Trump's Tariffs Worked

Sorry, Democrats (and Free Trade Republicans): Trump’s Tariffs Worked

Tariffs that began in 2018 have not destroyed the U.S. economy. The stock market did not crash. Tariffs weren’t the cause of inflation either. And many manufacturing industries from kitchen cabinets in Alabama to solar in Ohio are thriving because of them.

Details

Surge in Pharmaceutical Imports Threatens U.S. National Security as India/China Dominance Grows

KEY POINTS U.S. pharmaceutical imports have risen sharply in the last decade, with imports from China and India skyrocketing. India and China are increasingly the leading U.S. source for generic pharmaceuticals, which account for 91% of all prescriptions written in the U.S. China and India account for 57.6% of total pharmaceutical imports by weight last…

Details
End China Access to U.S. Capital Markets

CPA Applauds Spartz, Sherman Legislative Package to Address China’s Exploitation of U.S. Capital Markets

The legislative package will end tax breaks for Chinese stocks, restrict sanctioned Chinese companies’ access to U.S. capital markets, increase transparency on risks to American corporations, and reduce exposure to these risks for retail investors and other Americans saving for retirement.

Details
Senator Brown: IRA Tax Credits

Senator Sherrod Brown Questions Wisdom Of IRA Tax Credits For China Solar Giants In Hearing

“Our tax code is supposed to support American manufacturers in building out genuine domestic supply chains. It shouldn’t be exploited by the Chinese Communist Party,” said Brown.

Details