China currency spat decision delayed
The Obama administration announced Friday it will delay a scheduled report on whether China is manipulating its currency to gain trade advantages until after an upcoming meeting of the world’s major economies next month.
The Treasury Department said the administration will wait until after President Barack Obama meets with other leaders of the Group of 20 nations in Seoul in early November.
The administration’s announcement was certain to disappoint U.S. manufacturing companies, labor unions and lawmakers who contend that China is keeping its currency undervalued to gain trade advantages. It could also damage Obama’s struggling Democratic Party ahead of crucial congressional elections this year.
the asian times
Short URL: http://theasiantimes.com/?p=23
Posted by admin
on Oct 19 2010. Filed under Trending, World News.
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