Sunday, April 04, 2010

Shouldn't the President or Secretary of State be making this decision? Not the Treasury Secretary.....

U.S. delays report on alleged China currency manipulation -
Lawmakers from both parties have called on the Obama administration to speak out against China's refusal to let its currency appreciate.

China has kept its yuan about 6.83 to the dollar for almost two years. Many U.S. economists say the currency is undervalued by as much as 40 percent.

Keeping its currency low makes China's goods cheaper on the world market and more likely to be purchased by other countries. But, analysts say, it hurts American businesses, which cannot then compete.

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