A topic that has been the source of friction between the US and China is the intentional undervaluation of the Chinese Yuan (also known as the Renminbi) by the Chinese administration. This issue has gained traction after the global financial crisis in economic and political forums such as the G-20 as fundamental structural imbalances of global trade have been brought to blaze. In Washington the rhetoric against China has grown as the US faces an unprecedented fiscal deficit and a stubbornly high unemployment rate.
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May 25, 2011
China: Currency Manipulation and Trade Implications
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