Archive for the ‘appreciation’ Category

U.S. Treasury Secretary Wants Faster China Yuan Rise

October 23, 2007

By Glenn Somerville

WASHINGTON (Reuters) – Treasury Secretary Henry Paulson repeated on Tuesday that China needs to let its currency rise in value more rapidly and warned that U.S.-China relations were under threat from rising protectionism.
Treasury Secretary Henry Paulson is pictured during a G7 finance ... 
Henry Paulson

“Policy-makers in both countries must resist the impulse to discard the hard-fought and long-term gains of open economies by pursuing short-term and misguided policy responses,” Paulson told the George H.W. Bush U.S.-China Relations Conference.

He said prospects for achieving balanced growth in China and the world economy would be much greater if China let its yuan currency rise ….

A currency dealer waits for customers at a currency exchange. ...

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