Senator wants China revaluation by end-2006 – Reuters

From the (link)

The co-author of a bill that would punish China if doesn’t revalue its currency said on Wednesday that a 7-10 percent rise in the Chinese yuan by year’s end would show was serious about reform.

“My hope is that between now and the end of the year you will have a revaluation somewhere in the double-digit area,” said South Carolina Republican Sen. Lindsey Graham.

Graham and Democrat Sen. Charles Schumer in March decided to delay until September 29 a vote on their bill, which threatens to impose a 27.5 percent tariff on China’s to the if it does not revalue the yuan further.

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