BIZCHINA / Photos
China: Don't press us on yuan
(Reuters)
Updated: 2007-06-15 11:02
Yuan notes are counted at a currency exchange office in Hong Kong January
11, 2007. [Reuters]
China called on U.S. lawmakers on Thursday to address issues such as the
valuation of the yuan through a dialogue of equals instead of trying to
put pressure on Beijing.
The government was responding to a bill introduced on Wednesday by four
senators that aims to ratchet up pressure on China to let the yuan rise
more quickly.
The bill reflects growing frustration in Congress over the billowing U.S.
trade deficit with China. Many lawmakers believe China's currency
practices contribute to the deficit by giving Chinese companies an unfair
edge in global markets.
"We hope the U.S. Senate and Congress can view from a strategic
perspective the importance of the healthy development of China-U.S.
economic relations...and not politicize economic and trade issues, and
not resolve issues by exerting pressure," Qin Gang, a Foreign Ministry
spokesman, told reporters.
Speaking at a regular news conference, Qin said such issues should be
resolved "through dialogue and equal consultation."
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