Congressional bashing of China's currency slows down RMB appreciation
The article investigates how political contributions and constituent interests influence Congress members' criticism of China's currency policy. Results show that more PAC contributions from groups against China lead to more accusations of currency manipulation. Also, districts with more manufacturing workers are more likely to label China as a currency manipulator. Interestingly, bashing China for currency manipulation seems to slow down the appreciation of the Chinese currency against the US dollar, rather than speed it up.