While the Bush Administration declined to label China as a “currency manipulator” in June, Secretary of State Condoleezza Rice commented on CNBC that China could act more fairly on currency issues.
From Reuters:
U.S. Secretary of State Condoleezza Rice said on Friday that China “doesn’t play fair” on trade and currency matters.U.S. officials have repeatedly said they believe the Chinese currency is undervalued, giving an unfair edge to Chinese manufacturers, and that the country needs to live up to its obligations to reform the yuan and to open up its economy. [Full Text]
