In upcoming talks with China, the United States will try for what seems like the 1,000th time to encourage China to let its currency, the yuan, appreciate quicker, even as a growing list of sponsors add their name to a U.S. House bill, The New York Times (NYT) reported, that would require the Obama administration to impose duties or other trade barriers in lieu of currency action by Beijing. China keeps the yuan in a tight trading band, arguing that it must keep the yuan valued at a low level to protect embryonic companies and sectors.
The United States argues that the yuan's artificially-low value unnaturally draws in trade revenue via cheap exports that, under a market-value yuan, would flow to other countries.
Continue reading U.S. House May Use 'A Stick' to Nudge China on Yuan
U.S. House May Use 'A Stick' to Nudge China on Yuan originally appeared on BloggingStocks on Thu, 16 Sep 2010 15:30:00 EST. Please see our terms for use of feeds.
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United States - Beijing - China - New York Times - BloggingStocks
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