News release: “China relies on heavy-handed government control over its economy to maintain an export advantage over other countries. The result: China has amassed nearly $2 trillion in foreign exchange and has increasingly used its hoard to manipulate currency trading and diplomatic relations with other nations. These are among the concusions in the sixth Annual Report to Congress of the U.S.-China Economic and Security Review Commission. “Rather than use this money for the benefit of its citizens—by funding pensions and erecting hospitals and schools, for example–China has been using the funds to seek political and economic influence over other nations,” said Larry Wortzel, chairman of the Commission, at the official release of the group’s 2008 report to Congress on Thursday.”