U.S. Treasury refused to label China a currency manipulator
4 U.S. Treasury Department announced the trade for the main object of the "international economic and exchange rate policy report," the report pointed out that the United States, including China, major trading partners are not manipulating currency to gain unfair trade advantage.
The report notes that China began since last June to restart the RMB exchange rate formation mechanism reform, coupled with the past few months, the yuan rise faster against the dollar, China does not meet the definition of a currency manipulator.
The report notes that since June last year, increased exchange rate flexibility in China since January 27 this year, the RMB has appreciated against the U.S. dollar has been 3.7%, in nominal exchange rates, the annual appreciation rate of about 6%; In addition, China's inflation rate significantly higher than that of the United States, the real appreciation of the RMB against the U.S. dollar rate to be greater.
The international economic situation, the report pointed out that global economic recovery strengthened, global economic growth in 2010 is even more robust than expected, but the developed economies and emerging economies, the uneven pace of growth in 2010, economic growth, large capital inflows stronger emerging economies.
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