When Romney calls China a "cheater," he's referring to their currency. Here's a primer on what he's talking about. Note there are downsides to labeling China a "currency manipulator," including the possibility of triggering a trade warChina's currency becomes election issue
By Charles Riley
HONG KONG (CNNMoney) -- Monetary policy is a hot topic this election season. But forget the Federal Reserve -- it's China's currency that is drawing the attention of Mitt Romney.
The Republican presidential candidate has pledged to label China a currency manipulator on his first day in office. And if China does not move quickly to float its currency, the yuan, Romney would slap duties on Chinese imports.