 I think China is manipulating their currency. I think we ought to deal with that issue honestly and openly. And I know there are disagreements as to what the right tactics might be. But the fact is that we need to deal with that issue because it does affect trade. I think our economy facing these huge challenges needs trade. We need to use every tool available to create American jobs. And I think growing exports is in many respects the power tool in our economic toolbox. Why? Because it can be done immediately. We will create hundreds of thousands of jobs. Very quickly, if we simply move forward with these existing trade-opening agreements, give the President the ability to negotiate new agreements and get those through the process as well. As a general matter, China's political and diplomatic heft is very substantial. They are the Asian Agenda Center. This was once unquestioningly the role of Japan. It has accumulated $3 trillion in foreign exchange reserves. That is one-third of the global total of exchange reserves. One-third. This gives China extraordinary flexibility to, among other things, lead a robust going out strategy. Chinese investment worldwide, most especially directed toward natural resource acquisition. This reemergence, China, has embarked on a series of domestic policy measures that in many instances are at odds with the West. And this is really a function of the other factors in part that I've talked about in China's own form of development. What you see in Chinese policy is a desire to rebalance the levers of wealth in China. Moving those levers from, in their view, a multinational corporation-dominated economy to an economy that's highly indigenized, to put it slightly differently, to view that foreigners hold too much of what is China's wealth has imbued many of these policies with significant force. Looking back for 60 years under both Democratic and Republican administrations, the United States has led on trade, starting with the first global trade round with a gap in 1947 through the creation in 95 of the World Trade Organization and the launch in 2001 of the Doha round. None of that would have occurred or be successful without the United States. And the results have been spectacular for both rich and poor nations. Most of you have heard of Dr. Gary Huffbauer's study that shows that the United States is $1 trillion per year better off by reason of our opening of markets since World War II, but it's not only the rich countries that are better off, but it's also the poor countries, countries like China that have lifted 400 million people out of poverty by opening their markets. And we're talking about the need to generate growth today. And to generate growth, the United States must again take the lead on trade, working with a larger group of nations than we've had to work with in the past. What is it that we can do with labor at the table that makes the United States more attractive for domestic manufacturing? What can we do to make it more attractive for inward investment? Okay, let's start with the fact that we're not doing half a job in education in this country we've got to do. We're not doing half the job in terms of workforce improvement, skill development that we could be doing if we do those things that would make us more attractive. We've got, as Rob Portman says, the highest corporate tax rate in the world. We've lost our mind. If we want to compete, we've got to compete in every aspect of the cost of doing business. That means our skill base, it means our tax base, it means our regulatory base. It means the whole climate around which we decide to compete.