Tags: china | revalue | currency

Reid Urges China to Revalue Currency

Friday, 11 December 2009 03:20 PM EST

U.S. Senate Majority Leader Harry Reid urged Chinese President Hu Jintao to address his country's huge trade imbalance with the United States through a "significant revaluation" of China's currency.

"I know China is committed to moving to a free floating currency eventually. But China's currency policy has been causing major distortions in the world economy for too many years already, and is continuing to do so now," Reid said in a December 9 letter released on Friday.

"In the mean time, I hope you would consider a significant revaluation to bring the value of the RMB in line with economic fundamentals, and after that, to return to a more robust version of the 'managed float' that your government previously maintained," Reid said.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
U.S. Senate Majority Leader Harry Reid urged Chinese President Hu Jintao to address his country's huge trade imbalance with the United States through a "significant revaluation" of China's currency."I know China is committed to moving to a free floating currency eventually....
china,revalue,currency
122
2009-20-11
Friday, 11 December 2009 03:20 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

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