China Undervaluing Currency for Trade Benefits?

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Lawmakers are pushing President Obama to label China as a currency manipulator.

Many economists estimate China artificially undervalues its currency by as much as 40 percent, allowing them to produce low-cost goods.

U.S. manufacturers complain that gives China an unfair trade advantage.

"If you're going to be serious about reducing U.S. unemployment incidentally in high-paying mainly manufacturing jobs, you've got to put the exchange rate front and center," said Fred Bergsten of the Peterson Institute for International Economics.

Obama called China a currency manipulator during his presidential campaign, but since taking office has refused to give the country that label.

For more on this and other issues facing China, CBN News spoke with Gordon Chang, author of The Coming Collapse of China. Click play for his comments.

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