Government Sends Warning to China; China's Currency System Puts U.S. Firms at a Disadvantage, Critics Say
Telegraph - Herald (Dubuque) › May 18, 2005
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Summary
WASHINGTON (AP) - The Bush administration warned China on Tuesday it must swiftly overhaul its currency system or face the likelihood of being accused of manipulations to gain an unfair trade advantage - with economic sanctions possibly following that.
The administration has been prodding China in earnest over the past two years to stop linking its currency, the yuan, to the U.S. dollar. Manufacturers and other critics, including Democratic and Republican lawmakers in Congress, contend that China's currency system puts U.S. companies at a big competitive disadvantage and has contributed to the loss of U.S. factory jobs.See the full content of this document
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Government Sends Warning to China; China's Currency System Puts U.S. Firms at a Disadvantage, Critics Say
On Wall Street, stocks moved higher in late trading after the Treasury Department announcement.
In China, central bank gov...See the full content of this document
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