Don’t Press Us on Yuan, China Tells U.S. Senate – Reuters

1_222107_1_5.jpg From

China called on U.S. lawmakers on Thursday to address issues such as the valuation of the yuan through a dialogue of equals instead of trying to put pressure on Beijing.

The government was responding to a bill introduced on Wednesday by four senators that aims to ratchet up pressure on China to let the yuan rise more quickly.

The bill reflects growing frustration in Congress over the billowing U.S. trade deficit with China, which hit a record $233 billion in 2006. [Full Text]

See also: China Currency Row Heats Up in US on

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