Senate Majority Leader Harry Reid stated on September 21st that the Senate has moved towards passing legislation that would pressure China into raising the value of its currency to the top of its agenda. The Yuan is currently undervalued to the point where U.S. companies can't compete with inexpensive Chinese products, fueling manufacturing job losses. Undervalued Yuan.
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Senate pressures China on Yuan
- Winston & Strawn LLP
- China, USA
- September 28 2011
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