@ Brookings Podcast: China’s Currency Policy

China’s long practice of undervaluing its currency continues to take a toll on the U.S. economy; it has led to a growing increase in the trade deficit between the two countries, reduced U.S. GDP and has eliminated more than two million Americans jobs, by some estimates. As Congress and the Obama administration wrangle over ways to even the playing field for U.S. interests, expert Kenneth Lieberthal takes a closer look at China’s currency policy.