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发帖数: 90 | 1 http://finance.yahoo.com/news/China-currency-is-manipulated-cnnm-3425398431.html?x=0&sec=topStories&pos=5&asset=&ccode=
China continues to manipulate its currency and the nation's "exclusionary"
trade policies have contributed to a massive deficit with the United States,
a special commission said Wednesday.
According to a draft of its annual report to Congress, the U.S.-China
Economic and Security Review Commission said lawmakers should urge the Obama
administration to respond to China's policy of undervaluing its currency
and look for ways to overcome trade barriers with the world's most populous
country.
The commission, made up of 12 experts in trade and defense issues, was
created in 2000 to provide lawmakers with advice on how to manage America's
economic and military relationship with China.
"China's currency manipulation continues to harm U.S. manufacturing and
employment," the commission's chairman, Ohio businessman Dan Slane, said in
prepared remarks. "There appears to be no real motivation by the Chinese to
adopt market-based approaches with regard to its currency."
Critics argue that China's currency, the yuan, is kept artificially low by
hoarding reserves, keeping its exports cheap and undercutting international
competitors. China has expressed concerns that a stronger currency could
hurt its economy and undermine social stability.
The Obama administration should work with its trading partners to pressure
China, the report recommended. But U.S. officials should also act
independently to "encourage China to help correct global imbalances and to
shift its economy to more consumption-driven growth."
President Obama and Treasury Secretary Tim Geithner have already raised the
currency issue with China, most recently at the Group of 20 meeting of
global economic powers in South Korea last week. But the talks have failed
to gain traction.
While the G-20 meeting ended with a pledge to avoid"competitive devaluation"
of currencies, the leaders postponed more difficult decisions on how to
rebalance the global economy.
China announced in June that it would allow its currency to fluctuate in a
narrow range according to market forces. But the commission and other
critics say the move has been insufficient. The yuan has only appreciated 2.
3% so far this year.
The commission also said Congress should look for tools to deal with
policies that China uses to block access to its markets that are not covered
under World Trade Organization regulations.
"The Chinese government quite simply intends to wall off a majority of its
economy from international competition," said Slane.
Under its "indigenous innovation" policy, China has given its domestic
manufactures an advantage and forced U.S. companies to disclose "sensitive
technological information" to compete for lucrative government contracts,
the report said.
These policies and others have contributed to America's trade deficit with
China of a whopping $1.76 trillion annually, the report said.
"The resultant unbalanced nature of the trade and economic relationship
between the United States and China has helped give China the financial
resources and new technological capabilities that have enabled it to
strengthen and grow its economic, military and political power," the report
read.
The commission also advised Congress to direct the Treasury Department to "
fully account" for how much U.S. debt is sold to foreign governments, as
well as how much they currently hold.
The report acknowledged that China's position as the largest holder of U.S.
debt "has raised concerns about the degree of influence China has on the U.S
. economy." But the commission downplayed those worries, suggesting that
China could hurt its own interests if it stopped lending money to America.
"The lack of alternatives and the potential detrimental impacts on China's
economy make it unlikely that China would stop buying U.S. debt or liquidate
its holdings altogether," the report read. | y****e
发帖数: 23939 | 2 可以仿效日本当年对华贷款一样，低息或者无息给英美法等国贷款呀 | s**********w
发帖数: 866 | 3 "These policies and others have contributed to America's trade deficit with
China of a whopping $1.76 trillion annually, the report said."
Huh? 我的阅读理解有问题? |
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