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US tells China it must allow its currency to strengthen

Posted on 17 April 2014

The US has told China its currency must be allowed to rise if it and the global economy are to see stable growth. The US Treasury’s twice-yearly report to policymakers says the yuan is “significantly undervalued”.
Unlike the euro and the dollar, the value of the yuan is not set by the market but is kept within certain limits of other world currencies. The US has long argued that the bands are set too low, making Chinese goods cheaper on the world market………………………………………..Full Article: Source


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