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Dean Doug Guthrie

Doug GuthrieDoug Guthrie, dean and professor of international business and management, was quoted in several major stories on the U.S. Senate’s China currency bill, including an Oct. 2 Reuters story, “U.S. senators court 2012 voters with China currency bill,” and an Oct. 4 AP story, “Bill Punishing China for Currency Manipulation Moves Closer to Senate.”

From the AP article:

“But Doug Guthrie, dean of the George Washington University School of Business, argues that the legislation would do little to put Americans back to work and could saddle consumers with higher-priced Chinese goods.

“He said it was difficult to see how any currency adjustment would close the wage gap between Chinese and American workers and that most economists predict that American importers would simply switch from China to other low-wage countries such as Vietnam or Indonesia.  Moreover, big sellers of Chinese goods such as Wal-Mart are heavily investing in the Chinese market, and are not likely to stop buying from Chinese factories.  ‘Wal-Mart is so deeply embedded in China that there is no way’ they will leave, and the end result will be higher prices for American consumers, he said.”

Dean Guthrie was also quoted in an Oct. 5 Bloomberg Businessweek article:

“ ‘This is a lot of posturing, and I don’t know why,’ Doug Guthrie, dean of the George Washington University School of Business, said in an interview. ‘Rather than dealing with our own problems with job creation, we can just say there is another problem; we can say the economic pain is because China manipulates its currency.’ ”

 

Posted by gwsb on October 11, 2011 | Filed under: Getting Ink,GWSB News.


1 Comment »

  1. I think Dean Guthrie is being polite when he says he doesn’t know why politicians are making such a big deal over China’s currency manipulation. Briefly stated, in many cases it’s a combination of both misunderstanding and perception management. This is not to say all politicians are unaware of the real internal impact currency manipulation is having on prices within China, or the fact (as Guthrie stated) that manufacturing will simply slide to surrounding Asian countries, but many are bandwagoning on ignorance. Perhaps more importantly, though, it really helps to have an easy target to deflect economic blame onto. If I’m not mistaken, American nationalism is starting to bubble and froth again like when we were taking on those “Ruskies”. It’s important to remember that is usually the tool of last-resort for desperate governments, and not what Americans, nor their government, should condone or stand for.

    Comment by Tim Gilday — October 13, 2011 @ 3:10 pm

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