US lawmakers told not to 'politicize' currency (China)

[TexasLawyer]

Source: AP

US lawmakers told not to 'politicize' currency

Updated: 2007-06-14 20:33

China appealed to US lawmakers on Thursday not to politicize a currency dispute or resort to pressure after four senators announced legislation to penalize Beijing. Foreign Ministry spokesman Qin Gang called on Washington to recognize Beijing is making progress in easing controls that critics say keep its currency undervalued and add to swollen Chinese trade surplus.

"We hope the US senators can view the importance of the healthy development of China-US economic relations from a strategic perspective, properly handle the frictions in our economic ties and trade between the two sides, not politicize the economic issue and not solve the issue by exerting pressure," Qin said.

US Senators Charles Schumer and Lindsey Graham said Wednesday they were introducing legislation to penalize countries with a "fundamentally misaligned currency." It would allow tariffs and other punitive measures against violators.

Senate Banking Committee Chairman Christopher Dodd and Senator Richard Shelby of Alabama said they were introducing a measure that would direct the US government to pursue currency cases before the International Monetary Fund and World Trade Organization.

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Read more: http://www.chinadaily.com.cn/china/2007-06/14/content_894644.htm

[Vincardog]

1. If you piss them off they will sell all those TBills. Watch the $ crash

[Theduckno2]

3. We could raise the T-bill interest rate to make them more attractive.

But wait a minute, that would mean increasing the payments to all the foreign holders of our debt!

It is so hard to play a good game of poker when you owe money to everyone at the table.

[Vincardog]

6. Duh chalkup another victory to the CONservatives.

[billyoc]

2. Free market communists.

The Times They are a Changin'. :eyes:

[Art_from_Ark]

4. They're just selling us the rope to hang ourselves with

[Javaman]

5. Selling? we grew the hemp, made the rope and are now throwing it

over the rafter ourselves.