Monday, February 20, 2006
Currency Issue Rates Mere Footnote in Review of U.S./China Trade Relations
Press Release prnewswire.com
China's policy of undervaluing its currency appeared only as a footnote in an extensive U.S. government review of trade relations with China, much to the disappointment of a coalition seeking an end to Chinese currency manipulation.
Touted as a Top-to-Bottom Review of U.S.-China Trade Relations, the 29-
page report released yesterday by the Office of the United States Trade
Representative (USTR) recommends that U.S. trade resources and priorities be
readjusted to meet new challenges, and identifies trade objectives and
priority goals accompanied by key action items. 'While we support the
comprehensive approach outlined in the report, unless China stops its currency
juggling act, many of the report's goals will be rendered moot,' said China
Currency Coalition spokesman David A. Hartquist. 'That this critical issue
appeared only as a footnote in a self-proclaimed Top-to-Bottom Report is
troublesome.'
China's policy of undervaluing its currency appeared only as a footnote in an extensive U.S. government review of trade relations with China, much to the disappointment of a coalition seeking an end to Chinese currency manipulation.
Touted as a Top-to-Bottom Review of U.S.-China Trade Relations, the 29-
page report released yesterday by the Office of the United States Trade
Representative (USTR) recommends that U.S. trade resources and priorities be
readjusted to meet new challenges, and identifies trade objectives and
priority goals accompanied by key action items. 'While we support the
comprehensive approach outlined in the report, unless China stops its currency
juggling act, many of the report's goals will be rendered moot,' said China
Currency Coalition spokesman David A. Hartquist. 'That this critical issue
appeared only as a footnote in a self-proclaimed Top-to-Bottom Report is
troublesome.'
