[Congressional Record (Bound Edition), Volume 157 (2011), Part 12]
[House]
[Pages 17316-17317]
[From the U.S. Government Publishing Office, www.gpo.gov]




                                  APEC

  (Ms. HANABUSA asked and was given permission to address the House for 
1 minute.)
  Ms. HANABUSA. Madam Speaker, my home State of Hawaii just hosted an 
APEC, and I'd like to thank the people of the State for their patience 
and understanding.
  There were 21 Asian Pacific countries represented at this event. Our 
President was there, as was the Presidents of China, Russia and the 
Prime Minister of Japan, to name a few. It's important to note that 
what was dominating the conversations was the rising dominance of 
China.
  The President, our President asked China to end the policies of 
keeping the yuan artificially low, and it is artificially low at 28 to 
30 percent. Think about what it would mean to us, our economy, if they 
would just reevaluate. It would support 1.6 billion jobs. It would 
increase our GDP by $285 billion

[[Page 17317]]

in just 18 months, and our deficit would be reduced between 670 to $800 
billion in just 10 years.
  Madam Speaker, why haven't we taken up the issue of the reevaluation 
of the yuan? Our Senate passed it in October, the Currency Exchange 
Rate Oversight Act. It is time for us to act. The United States must 
maintain its dominance and its position.
  Please, bring that bill up to our floor.

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