Treasury Says China Is Not Manipulating Currency

Law360, New York (February 4, 2011, 7:00 PM EST) -- The U.S. Treasury Department has declined to label China a currency manipulator in its most recent report to Congress on international exchange rates, but said in a statement Friday that Chinese currency is still appreciating at an insufficient rate.

The Treasury Department cited commitments Chinese President Hu Jintao made that China would increase domestic demand during his recent state visit along with the appreciation of the Chinese renminbi since June as reasons for declining to apply the currency manipulator label in its report.

China has kept...
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