May 18,2007
Grassley on China's Move to Let Yuan Trade More Freely
Sen. Chuck Grassley, ranking member of the Committee on Finance, with jurisdiction over international trade, today made the following comment on the announcement by China’s central bank that it will let the yuan trade more freely.
“This is a positive step, but it’s too early to tell whether it’s substantive or just window dressing. China can and should move faster to allow market forces to determine its currency exchange rates. A wider trading band can facilitate that, but only if the Chinese government lets it happen. I intend to discuss this with the Chinese delegation coming to town next week.”
###
Next Article Previous Article
Recent News
- Wyden Announces Finance Committee Hearing on Consolidation and Corporate Ownership in Health Care
- Wyden Statement on Uganda Anti-LGBTQI+ Law
- Wyden Statement on House Republican International Tax Bill
- Wyden Offers Support for Biden Stance on Work Reporting Requirements
- Wyden Requests Information on How Medicare Will Administer Coverage for New Alzheimer's Medications