Tuesday, September 21, 2010

Former officials oppose US renminbi bill

Similar to spewing threats within a burning building. The Chinese that anything that restricts global trade will only worsen the downturn in the economy.

“Our experiences in negotiating with China make it clear that passing legislation which will result in punitive duties on Chinese imports will not induce China to move faster on exchange rate reforms,” the former officials say. “We need to find ways to achieve better market access, rather than threatening to destroy it through poorly timed legislation

Source: ft.com

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