久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

US pressures China for more currency moves
(chinadaily.com.cn)
Updated: 2005-10-07 08:52

Growing high-level visits between China and the United States underline the importance of the bilateral relations, though officials from Washington often bring with them pressures and directives to the other.

On the eve of a trip to Beijing, U.S. Treasury Secretary John Snow said yesterday during a testimony to the Senate Finance Committee at the Capitol that he would ask China for more currency flexibility.


People's Bank of China Governor Zhou Xiaochuan and U.S. Treasury Secretary John Snow shake hands before they hold private talks at International Monetary Fund Headquarters in Washington, Saturday, Sept. 24, 2005.[AP]

"We will be meeting with Chinese authorities ... to make the case it is time to see greater (yuan) flexibility," Snow said. He and Federal Reserve chief Alan Greenspan are scheduled to visit Beijing from October 11-16 for the annual Sino-U.S. Joint Economic Conference.

U.S. manufacturers and their allies in Congress allege that China undervalues its currency, giving its producers an unfair trade advantage. ‘’Greater flexibility’’ is code for allowing the yuan to appreciate further versus the dollar. Washington assumes that market forces would push the Chinese currency higher due to China's large bilateral surplus with the United States.

In July, in the wake of strong pressure from the United States, China’s central bank allowed the yuan to appreciate 2.1%, and dropped its dollar peg and set up a managed float system against a basket of currencies, including the yen, euro and won.

"The commitment has been made, the initial step has been made, but we need to see more flexibility incorporated into the currency reflecting real demand and supply in the market," Snow said.

Not everyone sees Washington pressure on Beijing as a fair one. It has been reported the U.S. Treasury Department wanted the IMF (International Monetary Fund) to support its claims that China is a currency manipulator.

``We don't see evidence'' that China is violating the IMF rules against maintaining an artificially cheap currency, IMF managing director Rodrigo de Rato told the Washington Post earlier this week

De Rato's comments were in response to ones made days earlier by Tim Adams, U.S. Treasury undersecretary for international affairs. Adams accused the IMF of being ``asleep at the wheel'' on monitoring currencies.

Chinese central bankers have time and again since the July 21 yuan revaluation said it would be in everyone’s interests to adhere to “gradualism” in adopting further currency reform measures, because any more drastic moves would entail grave risks to China’s economy. A sudden breakdown of the Asia’s fasting growing economy will drag many down, they asserted.

Secretary Snow sidestepped questions on whether Beijing would be branded a currency manipulator in the Treasury's semiannual report due in early November.

Snow spoke during an exchange with Senator Charles Schumer, Democrat of New York, who is co-sponsoring a measure to impose tariffs of 27.5 percent on Chinese imports unless Beijing adopts a more flexible currency. Schumer and Lindsey Graham, Republican of South Carolina, agreed in June to delay their bill after Snow and Greenspan assured them China was about to change its policies.

The yuan traded at 8.09 to the dollar on Thursday, as compared with the 8.30 yuan vs a dollar prior to July 21

``The yuan has appreciated less in 10 weeks than China said it would allow in one day,'' Schumer said. ``To me that's greater evidence of currency manipulation. Clearly they aren't letting market forces take hold, they are afraid to let go.''



Wu Yi meets with Kim Jong Il
Shenzhou VI ready for launch
New Yangtze river bridge opens to traffic
  Today's Top News     Top China News
 

China sends aid, rescue team to earthquake-hit Pakistan

 

   
 

Vice Premier Wu Yi meets Kim Jong Il

 

   
 

Why does US rev up China threat?

 

   
 

Help on the way to South Asia quake victims

 

   
 

Traffic mishap kills 20 in Zhejiang

 

   
 

Japan to dispose of WWII chemical weapons

 

   
  Chinese benefit from space technology
   
  Water diversion vs heritage protection
   
  Official: Hope dim for eliminating sandstorms
   
  Japan to dispose of WWII chemical weapons
   
  Police blame fireworks material for explosion
   
  Frequent assaults on policemen get concerns
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 欧美人禽杂交狂配毛片 | 久久亚洲国产伦理 | 日韩欧美国产精品第一页不卡 | 亚洲欧美日韩天堂 | 亚洲毛片免费在线观看 | 国产成人18黄网站在线观看网站 | 99在线观看巨臀大臀视频 | 久久久久久国产精品视频 | 美女一级ba大片免色野外 | 美女图片1314mm爽爽爽 | 日韩一级欧美一级 | 精品国产91久久久久 | 亚洲日本aⅴ片在线观看香蕉 | 国产高清三级 | 国产精品九九久久一区hh | 久久―日本道色综合久久 | 美女叉开腿让男人捅 | 给我一个可以看片的www日本 | 精品久久久中文字幕二区 | 国产系列在线播放 | 美女黄视频网站 | 亚洲精品在线播放视频 | 日本黄大片影院一区二区 | 在线观看欧洲成人免费视频 | 国产不卡影院 | 欧美一级高清片免费一级 | 俄罗斯一级毛片免费播放 | 亚洲精品在线播放 | 久草免费在线播放 | 亚洲欧美日韩国产一区二区精品 | 国产四区 | 九九久久九九久久 | www.黄色大片 | 狠狠色噜噜狠狠狠米奇9999 | 亚洲精品久久精品h成人 | 欧美大片aaaa一级毛片 | 美女很黄很黄免费 | 欧美日韩国产58香蕉在线视频 | 欧美一级成人一区二区三区 | 写真片福利视频在线播放 | 一级特黄aaa大片在 一级特黄aaa大片在线观看 |