Home>News Center>China
       
 

Snow: Trade action against China won't work
(Reuters)
Updated: 2006-01-06 15:15

WASHINGTON - U.S. Treasury Secretary John Snow urged China on Thursday to allow further revaluation of its currency, the yuan, saying it would help world economies adjust from trade and current account imbalances, but warned against retaliatory trade measures.

Snow: Trade action against China won't work
Treasury Secretary John Snow, pictured here in 2005, warned against trade measures against China in a call-in TV program on January 5, 2006. [AFP]
"The trade deficit is influenced by lots of things, differential growth rates, differential savings rates and investment rates and so on. But clearly, getting the yuan more appropriately valued will be helpful to the global adjustment process," he said on CSPAN television.

But Snow defended the administration's decision not to formally cite China as a currency manipulator, saying U.S. pressure on Beijing has been effective and that Chinese policy-makers recognize further revaluation is in their national interest.

"They are putting in place mechanisms to allow their currency to have greater flexibility... so I think we're on the right course," Snow said.

If the United States tried to pressure China to adopt a more flexible currency through trade actions against Chinese imports, it might only result in corresponding measures against the United States and create market uneasiness, he warned.

U.S. manufacturers complain that, even after a modest revaluation of its yuan currency last July, China's currency remains seriously undervalued and that lets China unfairly run up steadily mounting surpluses on its trade with the United States.

"China's behavior is inviting lots of negative reaction in the Congress," Snow said in response to questions after an address to the U.S. Chamber of Commerce.

"They do need to clean up their act on intellectual property, they do need to understand that trade is a two-way street," Snow said. "We're not satisfied one bit on the currency issue, but it's awfully important we resist these protectionist pressures."



Fire kills 5 in Northeast China
Aerobatics show in Hunan
Final rehearsal
  Today's Top News     Top China News
 

Australia, US, Japan praise China for Asia engagement

 

   
 

Banker: China doing its best on flexible yuan

 

   
 

Hopes high for oil pipeline deal

 

   
 

Possibilities of bird flu outbreaks reduced

 

   
 

Milosevic buried after emotional farewell

 

   
 

China considers trade contracts in India

 

   
  EU likely to impose tax on imports of Chinese shoes
   
  Bankers confident about future growth
   
  Curtain to be raised on Year of Russia
   
  Coal output set to reach record high of 2.5b tons
   
  WTO: China should reconsider currency plan
   
  China: Military buildup 'transparent'
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China restates yuan to rise gradually
   
China c.bank advisor: Yuan to rise slowly
   
China reforms forex rate forming mechanism
   
Snow 'astonished' by changes in Shanghai
   
Snow: Punitive bills on China 'ill-conceived'
   
Snow says China moving to flexible yuan
   
Snow urges faster China reform
   
Snow: China should get credit for yuan moves
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 百合潮湿的欲望| 亚洲五月综合网色九月色| 手机在线观看视频你懂的| 九九热在线视频观看这里只有精品 | 99在线视频免费| 市来美保在线播放| 厨房里摸着乳丰满在线观看| 国产v片成人影院在线观看| 国产精品成人va在线观看| 99国产精品免费视频观看| 好吊妞788gaoc视频免费| 中国熟女仑乱hd| 色片网站在线观看| 日韩视频中文字幕专区| 亚洲欧美日韩精品久久| 爱豆传媒视频在线网址最新| 全免费a级毛片免费看| 美女内射无套日韩免费播放| 国产一精品一av一免费爽爽 | 青柠直播在线观看高清播放| 国产日韩欧美综合| 777成了人乱视频| 国产精品多p对白交换绿帽| 91高清免费国产自产| 在线黄视频网站| baoyu116.永久免费视频| 女人是男人未来1分50秒| 一本一本久久aa综合精品| 成人免费的性色视频| 中文字幕亚洲欧美| 扒开双腿疯狂进出爽爽爽动态图| 久久久久99精品成人片欧美 | 香蕉大视频在线播放持久| 国产成人无码网站| 黑人巨茎大战欧美白妇| 国产成人无码一二三区视频| 99rv精品视频在线播放| 国产女人好紧好爽| 鲤鱼乡太大了坐不下去| 国产又黄又爽胸又大免费视频| 高清性色生活片97|