China Continues to Undervalue Currency
March 3, 2006
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March 3, 2006 – A senior Chinese official has said the Chinese government has “no timetable” for further revaluing their currency, providing further evidence Congressional legislation may be the only means to halt China’s unfair currency manipulation.
China has undervalued their currency by as much as 40 percent, resulting in a record trade deficit and massive job loss for the United States. Although China revalued the yuan by a mere 2 percent in July, they have done nothing to indicate they will further revalue their currency.
Read the entire Associated Press article.
