Thu, Nov 29, 2012 - Page 15 News List

No currency manipulator label for PRC

US TREASURY REPORT:A Chinese foreign ministry spokesman yesterday denied the currency is undervalued. China was last labeled a currency manipulator 18 years ago


However, the US-China Business Council, which represents US companies that do business with China, applauded the decision.

“The exchange rate has little to do with the US trade balance or employment,” council president John Frisbie said. “We need to move on to more important issues with China, such as removing market access barriers and improving intellectual property protection.”

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