The Exchange Rate Squeeze.

WASHINGTON -- Say there was a way to create a half-million American jobs over the next two years without adding a dime to the debt or deficit. And say it would also revive moribund Rust Belt factories, reduce the country's gaping trade deficit and help stabilize the international economic system. All of this would occur, some economists say, if only China would stop manipulating its currency, keeping it artificially undervalued as a means of boosting its exports and fueling its tremendous economic growth. [ABSTRACT FROM PUBLISHER]