CHINA NOT RMB MANIPULATOR

Try Our New Player
tvnportal
1.5K
2 views
  • About
  • Export
  • Add to
(1228 CR M01)CHINA NOT RMB MANIPULATORDATELINE: Dec. 28, 2011LENGTH: 00:02:10PKGINTROThe U.S. Treasury Department declines to name China as a currency manipulator, saying it will closely monitor the pace of appreciation of renminbi, or the yuan.China Report has the details.PKGThe U.S. Treasury Department released its latest Semi-Annual Report to the Congress on International Economic and Exchange Rate Policies Tuesday.The report highlights the need for greater exchange rate flexibility in some major economies, most notably by China.According to the Treasury, China doesn't meet the standards of a currency manipulator.The conclusion was based on the ongoing appreciation of the yuan against the dollar since June 2010, the decline in China's current account surplus, and the country's official commitments on a more rapid move toward exchange rate flexibility.The report says since Chinese authorities decided in June 2010 to allow the exchange rate to appreciate, the renminbi has appreciated
Powered by NewsLook.com
Producer : Xinhua News Agency

0 comments