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US concern on China currency fades

Posted on 12 March 2013

After years of grabbing the spotlight in US-China economic relations, US concerns over the value of Beijing’s currency appear to be fading, giving ground to newer issues like cyber-security and trade secret theft. Some lawmakers continue to argue a weak Chinese yuan is robbing jobs from the United States. But action to force a change is unlikely and the issue will probably remain on the back burner as long as the US economy continues to improve.
An increase in the value of the yuan, a big drop in China’s global trade surplus and a rise in labor costs that has made Chinese products less competitive have conspired with a pickup in US job growth to take the wind out of Washington’s sails………………………………………..Full Article: Source


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VRS - who has written 36568 posts on Opalesque Commodities Briefing.


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