US Treasury Report Criticizes Chinese Regime on Currency
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[LESS INFO] 0 VIEWS | ADDED 20:20:28 12/29/11
US Treasury Report Criticizes Chinese Regime on Currency
For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ on.fb.me The US Treasury Department has once again criticized the Chinese regime's currency policies, calling the yuan "undervalued" in a semi-annual report. But the report, which was delayed two months, avoids calling China a "currency manipulator." The US Treasury Department issued a report Tuesday on Chinese currency policies. The report cited the process of value appreciation in the Chinese yuan as "insufficient." The Obama administration has continued previous administrations' policy of expressing displeasure over the value of the yuan, but falling short of using the label "currency manipulator" for the Chinese regime. US law requires that the Treasury Department make twice-yearly determinations whether US trading partners are manipulating their currencies. This year, as in all previous since 1994, the determination was that Chinese currency is not undervalued so seriously as to trigger that designation. Current figures put the yuan at 6.3185 on Thursday, and the Treasury report defined the pace of appreciation since June 2010 as approaching 12 percent. Yet many in American government, and especially in the US Congress, have suggested that the yuan is indeed being manipulated in order to unfairly boost exports--and that the decision not to use the "manipulator" label, is simply to allow room for continued private discussion on the issue between Chinese and American ... From: NTDTV Views: 80 2 ratings Time: 01:35 More in News & Politics
US Treasury Delays ...
0 Views 20:22:06 10/17/11
US Treasury Delays China Currency Ruling
For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ me.lt The US Treasur...
[LESS INFO] 0 VIEWS | ADDED 20:22:06 10/17/11
US Treasury Delays China Currency Ruling
For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ me.lt The US Treasury Department has held its tongue over whether the Chinese regime is a currency manipulator. It's delaying a key report to Congress until later in the year. The decision comes as Democrats battle to pass legislation that punishes China for its currency practices despite Republican opposition in the House of Representatives. The United States Treasury Department said it would wait until several key international meetings before ruling on whether the Chinese regime has been manipulating its currency, with both the Group of Twenty major global economies and the Asia Pacific Economic Cooperation Forum to meet in the next two months. It comes as Democrat lawmakers face tough Republican opposition to a bill that would allow the US to impose trade penalties on countries that manipulate their currency. The bill was approved in the Democrat-controlled Senate on Tuesday. President Barack Obama has not endorsed the bill but his administration has made increasingly staunch public comments about China's artificially low yuan. Officials believe it's costing US jobs and has allowed China to accumulate around $3.2-trillion in foreign exchange reserves. [Hillary Clinton, United States Secretary of State]: "China has been gaming the trading system to hold down the value of its currency to give its companies a leg up. Its currency has appreciated, but not enough%mdashand ... From: NTDTV Views: 126 8 ratings Time: 01:54 More in News & Politics