More on the value of China's yuan and U.S. political pressure
Yesterday, the Alliance for American Manufacturing (AAM) shared a chart that shows a correlation between political pressure and the changing value of China's yuan.
Today we'd like to share more detailed information:
April 2005: China ends peg to dollar after Senate votes 67-33 to adopt Schumer/Graham currency amendment
US Dollar to Chinese Yuan Exchange Rate data by YCharts
July 2008: After 21 percent appreciation, China resumes peg to dollar as financial crisis and economic downturn begin
US Dollar to Chinese Yuan Exchange Rate data by YCharts
June 2010: China promises a “flexible” exchange rate policy just before G-20 meeting and mounting international pressure
US Dollar to Chinese Yuan Exchange Rate data by YCharts
Sept. 2010: House passes HR2378 (Currency Reform for Fair Trade Act) by a vote of 348-79
US Dollar to Chinese Yuan Exchange Rate data by YCharts
August 2011: Yuan strengthens to all-time high in advance of Vice President Biden visiting Beijing
US Dollar to Chinese Yuan Exchange Rate data by YCharts
October 2011: Senate passes S.1619 (Currency Exchange Rate Oversight Act) by a vote of 66-33
US Dollar to Chinese Yuan Exchange Rate data by YCharts
Summer 2012: Presidential candidates pledge to get tough on China, with Governor Romney pledging to cite China as a “currency manipulator”
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