Schumer Says Dealing with China Currency Issue an ‘Economic Imperative’

Senator Chuck Schumer (D-NY) says “lawmakers should act on legislation retaliating against Beijing’s alleged currency manipulation,” the AFP reports.

"Confronting this issue is an economic imperative," Democratic Senator Chuck Schumer said in a statement that noted he met last week with People’s Bank of China Governor Zhou Xiaochuan.

"I am more convinced than ever that legislation is needed to force countries like China that manipulate their currencies to play by the rules and let their currencies freely float," said Schumer.

US lawmakers charge Beijing keeps its currency — and thereby its exports — artificially cheap, hurting their US competitors at a time of deep US worries about historically high unemployment.


Leave a comment

Filed under China, Currency

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s