| The U.S. and China have made progress on their exchange-rate debate over the years while the Asian nation’s ability to control excess capacity will be central for expanding its economy, Treasury Secretary Jacob J. Lew said Sunday in Beijing.
Lew, speaking to students at Tsinghua University, said China’s government is moving in the right direction on its currency. He, however, added that the People’s Bank of China in August “was not clear” in its communication about the currency...............................................Full Article: Source
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