Bill on China Currency Moves to Floor
Posted by jeckert on 09/24/2010
This morning a bill targeting China's currency manipulation was approved by the House Ways and Means Committee. It's now set for a House vote on Wednesday, Sept. 29.
The bill was supported in committee by Dave Camp (R-MI). According to Congressional Quarterly Politics:
The markup came the morning after President Obama, speaking at a U.N. meeting in New York, complained about China’s refusal to allow the yuan to appreciate. Despite international pressure in recent months, China has done less than expected to allow its currency to appreciate, analysts say. “This issue has been building and building,” said Ways and Means Chairman Sander M. Levin, D-Mich. “This bill is being advanced in the absence of effective action on a multilateral basis.”Read more.
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