The United States warned Beijing
on Monday that the recent depreciation of the Chinese currency could
raise "serious concerns" if it signaled a policy shift away from
allowing market-determined exchange rates.
Washington has
been pressing China for years to allow its currency to trade at
stronger values. A weak yuan makes Chinese exports cheaper for U.S.
consumers at the expense of U.S. producers. A weaker yuan also makes
Chinese consumers less able to buy foreign goods.
Last month, U.S. Treasury Secretary Jack Lew welcomed a decision by
China to allow its currency to vary more against the dollar in daily
trading.
No comments:
Post a Comment