InfoAnda - China official rejects U.S. complaints on currency |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Taiwan high court overrules ex-leader's release in graft probe | 29 December 2008
Too much music as "Glee" returns to TV | 13 April 2010
Funk icon Sly Stone pleads not guilty to cocaine charge | | 16 June 2011

AT&T CFO Lindner retiring, Stephens to replace him | 5 March 2011

Forum Views () Forum Replies ()

Read more with google mobile : China official rejects U.S. complaints on currency |

Edition: U.S. Article Comments (3) Save Email Print Reprints Most Popular Most Shared Marijuana legalization will be on California ballot 24 Mar 2010 Possible new human ancestor found in Siberia 24 Mar 2010 Sex toy startup has some big backers 17 Mar 2010 Scientists find how relaxed minds remember better 24 Mar 2010 PRECIOUS-Gold rebounds from 6-week low, strong dollar weighs 24 Mar 2010 Marijuana legalization will be on California ballot 24 Mar 2010 Scientists find how relaxed minds remember better 24 Mar 2010 Possible new human ancestor found in Siberia 24 Mar 2010 Inside a global cybercrime ring 24 Mar 2010 Sex toy startup has some big backers 17 Mar 2010 China official rejects U.S. complaints on currency Doug Palmer and Paul Eckert WASHINGTON Wed Mar 24, 2010 8:24pm EDT Related News China official rejects U.S. complaints on currency Wed, Mar 24 2010 WRAPUP 3-China official rejects U.S. complaints on currency Wed, Mar 24 2010 Senators vow action on China forex bill Tue, Mar 23 2010 UPDATE 1-US senators vow action on China forex bill Tue, Mar 23 2010 An employee counts yuan banknotes next to U.S. dollar banknotes at a branch of Bank of China in Changzhi, Shanxi province, March 9, 2010. Credit: Reuters/Stringer WASHINGTON (Reuters) - A Chinese official said on Wednesday China would reform its currency policy gradually and keep the exchange rate stable, rejecting mounting U.S. calls to allow the yuan to rise more quickly. World | China Chinese Vice Commerce Minister Zhong Shan, in Washington amid U.S.-China trade and political tensions, said changing the exchange rate was not the way to fix a huge bilateral trade gap and could upset the world economy. "Revaluing the renminbi is not a good recipe for solving problems," he told the U.S. Chamber of Commerce, according to a transcript obtained by Reuters. "It is in nobody's interest -- China's, the U.S.' or other countries' -- to see big ups in the renminbi or big downs in the dollar," Zhong said. U.S. Treasury Secretary Timothy Geithner said it was critical for China to allow its currency to rise. "We can't force them to make that change," he said in an interview with CNN. "But it is very important that they let it start to appreciate again. And I think many of them understand that," he said, according to an advance transcript provided by CNN. Treasury Department officials met late on Wednesday afternoon with Zhong. "They discussed the importance of fostering global growth, a range of trade issues and economic policies, including exchange rates," a Treasury spokesperson said. Many U.S. economists estimate China's currency is undervalued by as much as 40 percent. They say that gives China an unfair price advantage in international trade, takes jobs away from other countries and adds to global financial distortions. With the U.S. economy having shed 8.4 million jobs since December 2007, lawmakers have focused on China's currency. Senators are crafting a law that would slap import duties on Chinese goods to offset the low value of its currency. Sponsors of the bill, Democratic Senator Charles Schumer and Republican Senator Lindsey Graham, also want the Obama administration to formally label China a currency manipulator in a semi-annual Treasury Department report due on April 15. "VIGOROUS DISCUSSIONS" WITH TREASURY The administration twice rejected that route in 2009, as did the Bush administration. Wary of straining U.S.-China relations, U.S. President Barack Obama has instead pressed Beijing to move to a "more market-oriented exchange rate." U.S. House Ways and Means Committee Chairman Sander Levin, an influential Democratic Party lawmaker, kept up the chorus of criticism of Beijing's currency policies on Wednesday. "What seems undisputed ... is that China has a persistent economic strategy, a policy, key to which is the pegging of its currency to the dollar at an undervalued rate," he said. Levin said he intended to hold "some vigorous discussions this week" with Treasury officials on the currency issue. Declaring China a currency manipulator would require Geithner to hold talks with China, bilaterally or at the International Monetary Fund. The IMF called the yuan "substantially undervalued" on March 1. Niall Ferguson, a history and business professor at Harvard University, told Levin's hearing that failing to name China as a manipulator will make the United States "look like the wimps of the Western world." Many economists say a revaluation of the yuan or renminbi (RMB) would not bring back U.S. jobs because many of the labor-intensive products Americans buy from China have not been made in the United States for decades. Some warn against moves that would trigger a trade war with China, which holds $889 billion of U.S. government bonds and whose help is needed to tame the nuclear ambitions of Iran. Joseph Brusuelas, chief economist at Brusuelas Analytics, said in a research report that he saw "little question regarding whether Beijing targets the level of its currency." But he argues against naming China a manipulator. "Such a finding will exacerbate economic tensions between the U.S.-China and could push the Obama administration to adopt a counterproductive set of policies that would endanger the nascent global economic recovery," he wrote. Ferguson urged naming China a manipulator but, citing the U.S. tariffs that helped trigger the 1930s Great Depression, added: "I do not think this is a good moment to threaten or impose retaliatory tariffs against China." "INDIGENOUS INNOVATION" CONCERNS Zhong warned U.S. business leaders that a stronger yuan might not be a solution to American economic problems. "A dip in the value of the dollar will undoubtedly bring great repercussions to the global financial system and the world economy," he told the U.S. Chamber of Commerce. "The right way to reach trade balance between China and the U.S. should be expanding exports from the U.S. to China, rather than limiting China's exports to the U.S.," Zhong added. U.S. exports to China hit about $70 billion in 2009, unchanged from 2008. In a global economic slowdown, China was the third-biggest market for U.S. exporters and it remains the fastest-growing one. But U.S. business leaders increasingly complain they are hitting a protectionist wall in China as a result of government policies favoring domestic industries and that Beijing is increasing state involvement in the economy. "Regrettably, China is moving in a direction that is inconsistent with international best practice in developing an innovative economy," said Myron Brilliant, senior vice president of the U.S. Chamber of Commerce. China's policies are undermining business leaders who have long defended Beijing from U.S. protectionist pressures. "The ongoing policy approaches by China are eroding the support of their long-standing advocates in the United States, diminishing the many good arguments we have used historically in support of this relationship," Brilliant said. China and the United States have been at odds throughout 2010 over issues such as Google's decision to defy Chinese Internet censorship, Tibet, U.S. weapons sales to Taiwan, and sanctions against Iran's nuclear program. Zhong also visited the U.S. Treasury Department, Commerce Department and the Trade Representative's office. It was not clear whether he would meet lawmakers during his two-day visit. A Commerce Department official said U.S. officials who hosted Zhong discussed trade remedy issues, anti-dumping and countervailing duties. "We also took the opportunity to raise our broader trade-related concerns, such as indigenous innovation," she said, referring to Beijing's buy-Chinese directives that U.S. businesses in China cite as a major and growing trade barrier. (Reporting by Doug Palmer and Paul Eckert; Writing by Paul Eckert; Editing by Andrew Hay, Dan Grebler, Phil Berlowitz) World China Comments See All Comments (3) | Post Comment Mar 24, 2010 10:08pm EDT in 2008, the the huge earthquake shaked Sichuan Province, china, the Chinese needed to buy equipments like helicopters from the U.S., Uncle sam said no because he refuse to sell “high tech” goods to china. chinese then bought them from Russions. what dose this story mean? urgod Report As Abusive Mar 24, 2010 11:41pm EDT Are these economics experts who say that the rmb is undervalued the same ones that never saw the financial crisis coming? Does anyone remember the Plaza accord with Japan in the 1990’s? Ask yourself this: If you were China would you bow to the wishes of the very people who perpetrated the fiasco upon Japan, and the jobs and financial crisis in America? Most of those folks with all of those fancy initials behind their names, don’t have a clue…. edgyinchina Report As Abusive Mar 25, 2010 12:40am EDT edgyinchina: I have being in China several times for business. The reality is that China is based in cheap labor and not in productivity. There are some basic production factor that does not change. Amounts of energy and materials, cycle times etc. These factor does not change and they define the productivity levels. So if China is producing at a very low cost and not using high productive tools then it is fair to think that the currency is artificially low. China can’t continue selling goods and the rest of the world buying them. It is a cylce that needs and will end soon. axiom321 Report As Abusive See All Comments (3) Add a Comment More from Reuters Inside a global cybercrime ring It was a full-fledged company with a call center, HR department, and company parties. Employees cranked out code at a frenzied pace. The product? Computer viruses. Full Article Law would identify cybercrime havens Technology China is tougher. Get used to it China's stubbornness on the yuan is just a glimpse of the country's budding assertiveness. Full Article China must change yuan strategy: U.S. China official rejects yuan complaints China Personal Finance: A pain-free way to file taxes Nothing's worse than filing your taxes and owing more money than you have in the bank. Here's how to avoid a crunch. Full Article Employers brace for tax hit Economy © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Thursday, 25 March 2010
Riyadh says arrests militants planning oil attacks
Sarkozy vows reforms despite vote defeat
Clearwire calls for one global mobile technology
Private onboard guards kill Somali pirate for first time
Nigeria rights group to appeal Facebook ruling
Five soldiers killed in latest attacks in Iraq
China official rejects U.S. complaints on currency |
Sharks, elephants to reappear on CITES agenda
China joins big-power talks on Iran sanctions
Books get the 3-D treatment in South Korea
Portugal vows austerity after debt downgrade
Britain hits rich in pre-election budget
Jerusalem building plan not new
Japanese publishers organise to discuss e-books
Africa's gorillas face bleak future: report
General Mills Q3 Profit Jumps On Sales, Margin Growth
Dell says China sales to near $5 billion this year
Russia, China press Iran on nuclear programme
Kids’ Choice Awards Launches Free iPhone App For Event
Inside a global cybercrime ring
Justin Bieber's Manager Arrested For Refusing To Tweet
Drivers In I-95 Afternoon Road Rage Charged
Nigeria's acting leader to meet ex-rebel leaders |
Bank Of America Launches Principal Foregiveness Program To Help Borrowers
Head of Canadian army shuffled out of job |
New Home Sales Hit Record Low In February
Japanese publishers organise to discuss e-books
Katherine Heigl Confirms She’s Leaving “Grey’s Anatomy”
Infantino Recalling SlingRider and Wendy Bellissimo Infant Slings
Former Gov. Corzine Back On Wall Street; Appointed Princeton Professor
Jesse James' Ex-Wife Janine Lindemulder Says Former Husband Is A "Chronic Cheater"
Cuban Americans filling planes to homeland
Russia, U.S. reach deal on new arms pact
Taliban-linked group to meet with UN
Curbing Taliban opium trade risks loss of support
Russia, US set to sign new nuclear treaty: Kremlin source
Popular baby-carrier recalled in North America
Nepal's ex-king believes monarchy can return
Hong Kong tycoon's Internet group cuts ties with Google
Climate change puts Australian reef on 'knife edge'
Philippine media group awarded AFP press freedom prize
US detainee had joined protests against N.Korea: activist
Cambodia army says 88 Thais dead in two-year border clashes
Alleged arms supplier of Philippine massacre clan arrested
Afghan leader visits China, signs economic pacts
Frenchman hacks Obama's Twitter account |
GoDaddy plans to stop China domain registrations |
Twitterers go offline in the name of charity |
Sweden's Electrolux bids for S.Korean Daewoo Electronics
Malaysia may post 5.5% growth in 2010: central bank
Taiwan chip tycoon warned over storming out of court
China says stronger yuan would have global impact
Swedish, Iranian companies bidding for Daewoo
Verizon Wireless to open app store March 29 |
Madrid opera's new director promises 'innovative' first season
Former Samsung chairman Lee returns to top post
Clearwire calls for one global mobile technology |
Dell's new servers designed for the cloud |
Pakistani stocks end at 19-month high; rupee firms
Belgian author wins Astrid Lindgren prize
China to try swingers over group sex parties
Books get the 3-D treatment in South Korea |
S.Korea c.banker: uncertainties high over economy
Hard times hit US blacks, Latinos harder than whites: study
Nigeria rights group to appeal Facebook ruling |
Indonesian brewers fret over excise tax hike
Akon postpones Sri Lanka tour after Buddha uproar
Killer icicles terrorise Russians
Sri Lanka plans to bar entry to R&B singer Akon
Population growth should be curbed: UK conservationist
Craig Ferguson: dragon slayer |
Akon saddened by Sri Lanka uproar |
Pete Wentz looks to life without Fall Out Boy |
MGMT give French fans peek at new album |
Italian swaps physics for writing and wins plaudits |
Netanyahu says progress made in U.S. Mideast talks
Britain hits rich in pre-election budget
Netanyahu says progress made in U.S. Mideast talks |
China joins talks on Iran sanctions, still no deal
Cold War defence alliance to wind down
China official rejects U.S. complaints on currency |
From the age of labor to the labor of age |
U.S. plays down hopes for Afghan reconciliation |
China joins talks on Iran sanctions, still no deal |
Santos leading race for Colombian presidency
AT&T sees big cash in small gizmos like dog collars
High-profile resignation in Irish church abuse scandal |
Car bomb kills 9 in Colombian port town |
Senators form caucus on global Internet freedom
Head of Canadian army shuffled out of job |
Man Arrested For Trying to Break Back Into Prison
Quake near Philippine capital, no damage reported |
Quake strikes near Philippine capital Manila
Sodomy trial 'rotten' and 'malicious,' says Anwar
Australians upset over LA kangaroo stunt
AT&T sees big cash in small gizmos like dog collars |
Pentagon poised to raise bar for kicking out gays
Malaysia verdict overturned in police torture case
CBS in step with Dance competition series |
Dracula creator's relative seeks Dublin memorial |
Some 25 mln air passenger bags lost in 2009: industry
Sodomy trial of Malaysia's Anwar to resume in May
China eyes 500 million web users
Three weeks to save iconic Hollywood sign: trust
Robert Culp, 79, dies after fall
Tesco's S.Korean unit to open eight new stores
Noel Gallagher describes onstage attack
Veggie Oil Van Sets Record
Toyota domestic plant review aims to slash costs
'Mr Shuffles' elephant calf trumpets new name
NZ dollar recovers from dip, looks to EU summit
Playgirl Offers Jesse James $500,000 To Pose Nude
Former President Bush Wipes Hands Clean On Former President Clinton After Shaking Hands With Haitians
Google Inc's deals in doubt amid spat with Beijing
Ex-Khmer Rouge leader hospitalized for a cold
Paychex Q3 Earnings Dip On Revenue Decline
PAKISTAN
U.S. Markets Slide On Global Economic Concerns
More Than 10 Congressmen Receive Threats Following Health Care Reform Vote
S.Korea firms turn cautious about outlook -survey
'very important' for China to move on currency: US
U.S. Senate Confirms New Ambassador To The Philippines
S.Korea's Lee calls for close look at household debt
Congress Considers Limiting Information Used In Credit Scores
Westerners follow Thai brides to live in hard-up northeast
Australian author Patricia Wrightson dies at 88
Frenchman arrested, targeted Obama's Twitter account
Europe moves towards Greek aid deal
US-TECH Summary
Abuse victims demand pope open files on pedophiles |
Russia says top militant killed in North Caucasus
Greek debt looms over EU summit
Playgirl Offers Jesse James $500,000 To Pose Nude
U.N. envoy meets Afghan insurgents in Kabul |
Justin Bieber's Manager Arrested For Refusing To Tweet
Berlusconi faces key test in regional elections |
A virtual farm turns new ground for game developers
Jesse James' Ex-Wife Janine Lindemulder Says Former Husband Is A "Chronic Cheater"
Pakistan faces tough task rejuvenating battered Swat |
LG aims at 25 percent of global 3D TV market
U.N. slams rights abuses in North Korea |
Russia says may support Iran nuclear sanctions |
UK Conservatives lag in seats they must win |
Cablevision goes 3D, beginning with hockey match
Somalia insurgents take over radio stations |
US Senate panel clears plan for tighter cybersecurity
Verizon Wireless to open app store March 29
Carla Bruni not keen on 2nd term for husband Sarkozy |
US-TECH Summary
'I Spy' star Robert Culp dead at 79
Obama health bill to face new House vote
U.S. healthcare changes headed back to House
Israeli PM fails to resolve settlement spat with US
Pope faces fresh claims of child sex abuse cover-up
Obama condemns Cuba's 'clenched fist' repression
Philippine court orders arrest of 189 in massacre
11-year-old Wins Stinky Sneakers Top Prize
Landslide lake threatens massive floods N.Pakistan
Doctors Warn About Relying On Web For Medical Information
Body Of Child Found; Believed To Be Missing New York Boy
Donny Osmond “Upset” About Lady Gaga’s “Telephone”
China says it agrees with Afghanistan on politics
FDA Warns Of Muscle Damage Associated With Cholesterol-Lowering Drugs
Citigroup Commits To Second-Lien Program To Keep Families In Homes
UN head in Afghanistan meets with militant group
California To Vote On Legalizing Marijuana
Chinese investors eye New Zealand's dairy sector
A virtual farm turns new ground for game developers |
PetroChina's 2009 net profit falls 9.7 percent
Cablevision goes 3D, beginning with hockey match |
Green Day And AFI To Embark On Tour Together
Supreme Court Stays Texas Death Row Inmate's Execution
Robert Culp, 79, dies after fall |
Chinese Boy With 15 Fingers, 16 Toes Undergoes Surgery To Remove Extra Digits
Indonesian man convicted of people smuggling
Widespread Use Of ‘Liquid Glass’ Germ And Dirt Repellant Predicted
James Cameron takes film studios to task over 3-D |
Filmmaker, Former Political Official Upset Over Porn Mix-up
Cambodia PM to attend regional meeting in Thailand
Bollywood film breaks new ground on sex in India |
China suffering 'diabetes epidemic'
Noel Gallagher describes onstage attack |
Japan unveils willing dental patient -- a robot
N.Korea forces South into tourism talks
German Police Kill Marauding Wild Boar
Taiwan Braces For Severe Sandstorm, May Close Schools
Good-hearted Thief Returns Some Stolen Money
Twitterers go offline in the name of charity
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01