….Until recently, the US had a coalition of allies at the G-20 to stand firm against the manipulation of the yuan. However, much to Barack Obama’s shock, they’re not as interested in scolding China for manipulating its currency while the Obama administration has done the same with its second round of “quantitative easing”….

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[….]

Many currency analysts agree with Mr. Obama that the U.S. dollar stands to gain in coming months against the euro and Japanese yen, in particular, if the Fed is successful and the U.S. recovery picks up speed.

Nick Bennenbroek, analyst with Wells Fargo Securities, said the dollar actually has strengthened since the Fed’s announcement last week because, in an “ironic twist,” the economy has been showing unexpected strength. A report on Friday showed the best private job growth since April.

“Moreover, with the initial Fed announcement now out of the way, markets have refocused their attention on the ongoing European debt-market difficulties and, in particular, concerns over the state of the Irish government’s finances,” Mr. Bennenbroek said. The result is the euro may be due for a decline against the dollar.

But the Fed’s move only seemed to provide an excuse to many nations to dig in and further resist Mr. Obama’s call to curb global trade imbalances, starting with the massive Chinese trade deficit with the United States.

A Commerce Department report on Wednesday showed that the U.S. deficit with China fell $2.2 billion to $27.8 billion in September but remained near record highs. The U.S. blames the deficit in part on China’s currency policy, which makes Chinese imports cheaper in the United States.

But Chinese President Hu Jintao, ahead of a scheduled meeting with Mr. Obama on Thursday, called on other countries to “face their own problems” rather than cast blame for their giant trade imbalances on China. Mr. Hu also defended China’s currency controls as a boon to the world economy.

…(read more)…

The UN and Planned Parenthood Support This Policy

Published November 2, 2010 by Papa Giorgio

NewsBusters h/t:

World Magazine (august 2009):

A mute woman must undergo sterilization before the government allows her to marry. A young woman hides her second child, buying a baby’s corpse from an abortion clinic to convince family-planning officials her baby died. Christian villagers hide pregnant women and children from officials seeking to levy fines for transgressing China’s population-control policies.

These are the stories the Population Research Institute discovered when it conducted a study of China’s population policies in March and May. Its just-released study concludes that even in counties where a United Nations Population Fund (UNFPA) presence is supposed to preclude coercive policies, the abuse continues. PRI president Steve Mosher said: “We are funding a program of forced abortion and forced sterilization in China through the UNFPA.

UNFPA says it spent $6.8 million in China last year and that China has demonstrated “significant progress” in achieving UNFPA goals. President Bush banned U.S. funding of UNFPA and banned funding for groups that promote abortion overseas (known as the Mexico City policy). President Obama has revoked those decisions, and so far Congress is backing him up.

House and Senate committees have approved at least $50 million for UNFPA. Rep. Chris Smith, R-N.J., failed in his efforts to pass a committee amendment reinstating the Mexico City policy, while the Senate Appropriations Committee passed an amendment backing its reversal. Both the House and the Senate generously funded family-planning programs, with the Senate Appropriations Committee allocating $628.5 million and the House increasing funding by 40 percent from 2008.

But pro-life members of Congress feel they have a chance to curtail abortion-related spending once the House and Senate confer to decide on a final budget draft. Smith told the House it was a “serious problem” to fund pro-abortion groups like Planned Parenthood and Marie Stopes International: “They are American surrogates in foreign countries. They speak for us. They certainly don’t speak and act for millions of pro-life Americans.”