Treasury Reiterates Stance that China is not a Currency Manipulator

By Webmaster on June 7, 2011 7:59 PM
On May 26, in its second 2011 Semiannual Report on International Economic and Exchange Rate Policies, the United States Treasury Department retained its longstanding position that China is not a currency manipulator, though its currency remains substantially undervalued. In the report, Treasury again urged China to make "more rapid progress," but it noted that, accounting for China's rapid inflation, the yuan had appreciated roughly 9% against the dollar in the last year. Treasury also emphasized that more rapid appreciation of the yuan against the dollar could help China to counter inflation.

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