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US currency bill would see 'retaliation'

(China Daily)

08:56, November 01, 2011

BEIJING - China's government will not sit by and will retaliate in kind against the United States if a measure targeting the yuan becomes law, said the Ministry of Commerce on Monday.

"The currency legislation proposed by the US would hurt the interests of both China and the US. We are strongly against it," said He Ning, director-general of the Department of American & Oceanian Affairs with the Ministry of Commerce.

"If it eventually passes and becomes law, we cannot ignore it and will definitely reciprocate in kind," said He, who refused to elaborate.

"We have readied ourselves with measures to deal with the possible outcome from the US", He said.

He's remarks came as Chinese President Hu Jintao is expected to attend the G20 summit on Nov 3 and 4 in Cannes, France. At that meeting, leaders from the 20 nations are scheduled to discuss how to address issues including the global economic recession and the spreading European debt crisis.


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