JenGC
October 25th, 2007, 04:19 PM
US Treasury Secretary Henry Paulson said it was in China's own interest to let the yuan rise, given the clear signs of overheating. -Beijing's policy of holding down the yuan through purchases of US and other foreign bonds has caused reserves to mushroom to $1,430bn, driving up inflation to 6.5pc.
Japan said yesterday its exports to the US plummeted 9.2pc in August, a sign that contagion from the US downturn may be spreading.
In Washington, Congress has already drawn up plans for sanctions against China, accusing the regime of stealing market share by manipulating the yuan.
http://www.telegraph.co.uk/money/main.jhtml;jsessionid=J04ZRZCMNTJWBQFIQMFSFFWAVCBQ 0IV0?xml=/money/2007/10/25/cnchina125.xml
OH BOY!
Japan said yesterday its exports to the US plummeted 9.2pc in August, a sign that contagion from the US downturn may be spreading.
In Washington, Congress has already drawn up plans for sanctions against China, accusing the regime of stealing market share by manipulating the yuan.
http://www.telegraph.co.uk/money/main.jhtml;jsessionid=J04ZRZCMNTJWBQFIQMFSFFWAVCBQ 0IV0?xml=/money/2007/10/25/cnchina125.xml
OH BOY!