US is the true money meddler
By Zhang Monan | China Daily | Updated: 2010-03-23 07:51
Washington has chosen to depreciate the dollar as a tool to cut down on its foreign debts since World War II
A group of 130 lawmakers from the United States sent a letter last Monday to the US Treasury calling on the Obama administration to pressure China on its exchange rate.
Accusing the Chinese government of subsidizing exports, they claimed that the "artificially undervalued" yuan is unfair to foreign competitors and puts China's exporters at an advantage.
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