The US-China Exchange Rate Stand-Off |
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"You can not have free trade when your partner is cooking the currency."1 - Donald Manzullo, US Congressman, on March 05, 2007. "It needs both sides to take the principle of mutual respect to increase understanding and strengthen communication rather than resorting to pressure or threats."2 - Qin Gang, Chinese Foreign Ministry spokesman, on March 29, 2007. Introduction
Though a majority of the bills that are introduced in the US Congress do not cross the first stage of deliberation and investigation, Senator Charles Schumer, a New York Democrat, and Senator Lindsey Graham, a South Carolina Republican - two leading supporters of the bill and bitter critics of China's currency policy - expected the Congress to pass the bill "veto proof"5 by the end of the year. The senators were sure that the final bill, that would be carefully crafted to abide by WTO6 rules,7 would force China to raise the value of the Yuan against the US Dollar.
The US-China Exchange Rate Stand-Off - Next Page>> 1]
"Ruan, Hunter up the Volume in a Bid to Buoy their Fair Currency Act," www.
amm.com, March 05, 2007. |
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