Tags: china | lindsey graham | currency

Graham: We Need To Be Tougher on China

Friday, 09 Jul 2010 01:21 PM

China's recent moves to end a peg between its yuan and the dollar were mere gestures and not real reform, a Republican senator said on Friday as he urged Congress to take action against Beijing.

Senator Lindsey Graham of South Carolina said the decision by the Treasury Department on Thursday not to name China a currency manipulator underlined the ineffectiveness of the U.S. effort to persuade Beijing to let its currency appreciate.

"This report reinforces (that) the only remedy available is for Congress to pass legislation addressing currency manipulation," Graham said. "The distortion of the Chinese currency has gone on too long and cost too many American jobs."

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Headline
China's recent moves to end a peg between its yuan and the dollar were meregestures and not real reform, a Republican senator said on Friday as he urgedCongress to take action against Beijing.Senator Lindsey Graham of South Carolina said the decision by the...
china,lindsey graham,currency
108
2010-21-09
Friday, 09 Jul 2010 01:21 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved