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US presses China to let yuan strengthen, avoids ‘currency manipulator’ label (www.scmp.com)

submitted 2 weeks ago by rss@news.abolish.capital to c/china@news.abolish.capital

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The United States has urged China to allow the yuan to appreciate, accusing Beijing of a lack of transparency and describing the currency as “substantially undervalued”. “It is important that the Chinese authorities allow the RMB exchange rate to strengthen in a timely and orderly manner in line with market pressure and macroeconomic fundamentals,” the US Treasury said in a report released on Thursday. China’s exchange-rate policies stood out among major US trading partners for their “relative...

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