InfoAnda - US clears China of currency manipulation

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

Xinhua website planning $158 million IPO: sources | | 23 December 2011
MasterChef off to a tasty start | | 27 July 2010
German prosecutors target nine suspects in HP probe | 17 April 2010

Peru's Humala calls Garcia a threat to democracy | | 7 December 2010

Forum Views () Forum Replies ()

Read more with google mobile : US clears China of currency manipulation

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World US clears China of currency manipulation AFP - Saturday, February 5 Send IM Story Print WASHINGTON (AFP) - – The US Treasury cleared China of official accusations of currency manipulation Friday, but said progress toward allowing the yuan to appreciate was "insufficient." In a report to Congress, the Treasury said that China, eight other countries and the eurozone had not manipulated exchange rates "for purposes of... gaining unfair competitive advantage in international trade." "Based on the resumption of exchange rate flexibility last June and the acceleration of the pace of real bilateral appreciation over the past few months," China's behavior did not qualify under the official definition of manipulation, it said in the long-delayed report. "Treasury's view, however, is that progress thus far is insufficient and that more rapid progress is needed." It pledged to "continue to closely monitor the pace of appreciation" of the yuan. In addition to China, the Treasury looked at the policies of the eurozone and eight other economies: Brazil, Britain, Canada, Japan, Mexico, South Korea, Switzerland and Taiwan. The 10 together account for about 75 percent of US trade. "Treasury has concluded that no major trading partner of the United States met the standards" of manipulation as identified by the law "during the period covered in this report." The Chinese currency policy has been a major irritant in bilateral relations with the world's second-largest economy, and was a key topic of discussion when President Barack Obama hosted Chinese President Hu Jintao on a state visit last month. The United States accuses Beijing of keeping its currency undervalued, flooding the country with cheap exports and costing US jobs. US lawmakers have pushed the Obama administration to get tough with China over the yuan. A bill threatening sanctions to punish Beijing's currency policy is lurking in Congress, which has awaited the Treasury report since it was first supposed to appear on October 15. China has pledged to allow the yuan to gain value, but at a measured pace so as not to destabilize its rapidly expanding economy. The Treasury said the yuan, also called the renminbi (RMB), had appreciated 3.7 percent against the dollar between mid-June and January 27. In fact, it added, weighing the higher rate of inflation in China, "the RMB has been appreciating more rapidly against the dollar on a real, inflation-adjusted basis, at a rate which if sustained would amount to more than 10 percent per year." The report also said that many Chinese know a more flexible exchange regime will benefit the country, and that the nascent creation of an offshore market for the yuan, mainly in Hong Kong, represents the beginning of a shift. But that was not enough to placate China's critics in Congress. Democrat Max Baucus, head of the Senate Finance Committee, slammed the findings. "China's currency practices harm ranchers, farmers, and exporters across America and around the world," the senator from the western state of Montana said in a statement. "China has been given a free pass on its currency practices for far too long. We need to hold China and our other trading partners accountable for their actions." Sherrod Brown, a Democratic senator from Ohio, also knocked the Treasury's conclusion and called on Congress to pass legislation on currency manipulation. The report "both confirms and ignores the obvious: the appreciation of the yuan is completely inadequate, and it's not by accident," Brown said. "While the administration prefers to take a diplomatic approach towards the Chinese government's unlawful practice of currency manipulation, American manufacturers and workers struggling to compete against unfairly subsidized imports can't afford to wait any longer for action," he said. The report came a week ahead of the government's December trade balance numbers. The Commerce Department is expected to report next Friday that the US trade deficit widened to $50.0 billion from $42.6 billion in November. China has appeared on track to beat its 2008 record trade surplus with the US. Over the first 11 months of 2010, the China trade gap was $252.4 billion, compared with $268.0 billion for all of 2008. Recommend Send IM Story Print Related Articles TABLE-Oracle Financial Oct-Dec net rises 24.2 pct Reuters - 2 hours 33 minutes ago Toyota exec defends higher incentive levels in US Reuters - 2 hours 34 minutes ago US-BUSINESS Summary Reuters - Saturday, February 5 Hackers penetrate Nasdaq computers: report Reuters - Saturday, February 5 Tokyo bourse to lengthen trading hours from May 9 Reuters - Saturday, February 5 News Search Top Stories Drive to unify euro economy as rescue roadmap set January snowstorms cloud US jobs market Saucy speaker's wife pic causes storm in Britain Germany, France launch new eurozone convergence plan Spanish lender Banco Popular's profits down 23% More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Saturday, 5 February 2011
Egyptians march against Mubarak on "Departure Day"
Danish cartoonist's attacker jailed nine years
US-TECH Summary
Saucy speaker's wife pic causes storm in Britain
Huge crowds turn out for Mubarak 'departure day'
January snowstorms cloud US jobs market
Verizon halts iPhone orders after record first day
Egypt set for Tunisia-style change: UN rights chief
'Cocaine clothes' found in Italy drug bust
Drive to unify euro economy as rescue roadmap set
Jordan Islamists demand speedy political reform |
Police beat, arrest Sudanese at short-lived protests
Trotsky assassination 'planned from US drug store'
Egyptian censor-busting Moroccan website hacked
Spanish lender Banco Popular's profits down 23%
Germany, France launch new eurozone convergence plan
Britain wants international rules on cyberspace
Iran's leader hails "Islamic" uprising in Arab world
Small plane crashes in Iraq, 7 killed |
Cisco to buy digital video firm Inlet for $95 million
Belarus leader fires diplomatic, oil officials |
Tunisia bets revolution will boost tourism |
Iran says Stuxnet claims need investigating
Myanmar's parliament appoints Thein Sein president |
Congo gets first rehab centre for rape victims |
Israel, Palestinians float Gaza gas rapprochement |
Japan protests Russian defence chief's Kurils visit
Two dead in Thai-Cambodian border clash
Nagatomo realising a dream at Inter
Sri Lanka parties clash over jailed army general
Strong quake hits India-Myanmar border
BBC defends Mexico jokes on Top Gear
Quake of 6.4 magnitude rocks eastern India
Kazakh hosts extend winning streak at Asian Games
US comic book to depict British royal romance
US-ENTERTAINMENT Summary
Stephen Colbert sells his portrait to benefit the arts
New SeaWorld whale show has trainers out of water
Swedish actress Lena Nyman dies at 66
Food prices triggering global unrest: UN
Kusturica to adapt Bosnian epic for the big screen
Britain wants international rules on cyberspace |
Pakistani stocks, o/n rates end up; rupee weakens
Africa's biggest film fest takes aim at piracy
BBC defends "Top Gear" jokes about Mexico
Zorlu secures $37 million for Pakistan wind farm-bank
Documentary Inside Job has inside track to Oscar |
Stephen Colbert sells his portrait to benefit the arts |
New SeaWorld whale show has trainers out of water |
Obama hopes Mubarak will make "the right decision"
Berlusconi fights back as sex trial looms
Corning makes upbeat glass forecast, shares rise
CORRECTED
Drive to unify euro economy as rescue roadmap set
Berlusconi dismisses legal troubles as 'farce'
January snowstorms cloud US jobs market
Witness: Egypt police keep firm grip in Cairo's slums
Verizon reins in data hogs before unleashing iPhone
Al Jazeera says Cairo office destroyed by "thugs"
Mubarak hangs on after mass protests in Egypt |
Leaked files show details of Assange allegations
Britain calls for cooperation on cybersecurity
Israel, Palestinians float Gaza gas rapprochement
85 percent of US adults own cellphone: survey
Witness: Egypt police keep firm grip in Cairo's slums |
Corrected(OFFICIAL)-ElBaradei says sees himself as change agent
Factbox
Thai and Cambodian troops in deadly clash near temple |
85 percent of US adults own cellphone: survey
Northern Mexico cold snap paralyzes Ciudad Juarez |
Justin Bieber to appear on Saturday Night Live
Philippine Muslim rebels hope for peace deal in a year |
Dead Guantanamo prisoner was no enemy, lawyer says
Okazaki joins Japanese exodus to Germany's Bundesliga
Torrential downpours pile misery on Australia
Rebels admit major split ahead of Philippine talks
Ten more dead in Philippine floods
Sumo tournament 'to be cancelled over scandal'
Lady Gaga collaborator talks "Born This Way" album
Ten killed in China bus accident: media
James Franco in early talks for "Oz"
Justin Bieber to appear on Saturday Night Live
Thai and Cambodian troops in deadly clash near temple
Documentary "Inside Job" has inside track to Oscar
China's hostile space capabilities worry US: official
US envoy to Japan, S.Korea on child abductions
Hackers penetrate Nasdaq computers: report |
Japan's major firms enjoy 24% profit gain: survey
US clears China of currency manipulation
Facebook to unveil Menlo Park campus next week |
Mitsubishi expands production at US plant
Slim's Telcel pitches new fee proposal to rivals |
Canada court overturns government ruling on Globalive |
Corning makes upbeat glass forecast, shares rise |
Justin Bieber to appear on Saturday Night Live |
Lady Gaga collaborator talks Born This Way album |
Facebook to unveil Menlo Park campus next week
Canada court overturns government ruling on Globalive
James Franco in early talks for Oz |
Slim's Telcel pitches new fee proposal to rivals
Russian rebel leader vows year of 'blood and tears'
Clinton urges accountability across Mideast
UK's Cameron says multiculturalism has failed
Polio returns to cripple Angola and its neighbours
Quartet prioritize Egypt's impact on MidEast talks |
Chechen rebel threatens Russia with more attacks |
Cuba seeks 20 years for American 'spy'
U.S. urges Yemen opposition to avoid provocation |
Bush's Swiss visit off after complaints on torture |
Nipah virus kills at least 15 in Bangladesh
Iraqi premier says will give up half his salary |
Sen. Hatch: Kagan should sit out health care case
Ahmadinejad chides parliament for sacking minister |
Zimbabwe parties condemn spate of political violence |
COLUMN: All a-chirp over fighting bugs
Myanmar state media asserts junta head's role
Troops replace tourists at Egyptian Museum
Northeast India rebels announce peace talks
Horses bring relief in rough Mexico City
Sri Lanka opposition warns of Arab-style uprising
15 dead in Bangladesh as Nipah virus returns
India goes after 'black money' hoarders
Indian Kashmiris protest student's killing by army
Nokia likely to sack several executives: report |
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