China denies cheap yuan

 

China denies cheap yuan

first_img Share whatsapp KCS-content Show Comments ▼ PRESIDENT Barack Obama met Chinese Premier Wen Jiabao yesterday as US lawmakers appeared closer than ever to acting on long-standing threats to penalise China for keeping its currency artificially low.Wen staged a pre-emptive defence of China’s policies ahead of the meeting, flatly rejecting any link between the level of the Chinese yuan, or renminbi, and US trade deficits.“The main reason for the US trade deficit with China is not the renminbi exchange rate, but the structure of trade and investment between the two countries,” he said in a speech to US executives and China experts in New York.Wen’s talk came after a US House of Representatives committee scheduled a vote for today on a China currency bill that would treat China’s “undervalued” currency as an export subsidy and allow the US Commerce Department to impose countervailing duties on Chinese products to offset the undervaluation.Critics say China deliberately undervalues its currency by as much as 25 per cent to 40 per cent. China denies cheap yuan Thursday 23 September 2010 8:08 pmcenter_img whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comConnecticut man dies after crashing Harley into live bearnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo - Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel's Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn't Meant To Seeautooverload.com Tags: NULLlast_img

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