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U.S. Treasury declines to name China as currency manipulator


08:28, December 28, 2011

WASHINGTON, Dec. 27 (Xinhua) -- The U.S. Treasury Department on Tuesday declined to name China as a currency manipulator, saying that it would closely monitor the pace of RMB appreciation.

The latest Semi-Annual Report to the Congress on International Economic and Exchange Rate Policies released on Tuesday highlighted the need for greater exchange rate flexibility, most notably by China, but also in other major economies.

"Based on the ongoing appreciation of the RMB against the dollar since June 2010, the decline in China's current account surplus, and China's official commitments at the G-20, APEC, and the U.S.-China Strategic and Economic Dialogue (S&ED) that it will move more rapidly toward exchange rate flexibility," the Treasury concluded that China did not meet the standards of a currency manipulator.

"Treasury will closely monitor the pace of RMB appreciation and press for policy changes that yield greater exchange rate flexibility, a level playing field, and a sustained shift to domestic demand-led growth," noted the Treasury.


Leave your comment4 comments

  1. Name

ASEAN at 2011-12-28220.255.1.*
USA is the main currency manipulator.They do this by printing more and more money.
PD User at 2011-12-2898.207.151.*
"He who points a finger at others points three at himself"!
helen at 2011-12-28203.82.92.*
The United States is very good at playing "Medusa Politics" with all branches of the US government and the US Congress pursuing different routes, strategies and pronouncements on the same issue! Their credibility is in great doubt since there is no common stand among themselves.Medusa with its many snakes on her head is representative of American politics and US Global Tyranny. No one sane sovereign nation should be taken in by them.
PD User at 2011-12-28175.136.55.*
The US Treasury concluded that China did not meet the standards of a currency manipulator. Then why are the US lawmakers keep on harping that China is manipulating the Yuan all the while? Isn"t it a slap on your own face for the unfair and irresponsible accusation? Shame on you.

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