U.S. Warns China on Currency

From the New York Times:

The Bush administration warned on Tuesday that its policies were distorting world , and brandished the threat of retaliation against the country’s exports if Chinese leaders did not change course in the next year.

In far harsher than it has used before, the Treasury Department declared that China’s fixed exchange rate between its currency, the yuan, and the dollar posed a risk to its economy and the economies of much of the rest of the world.

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