Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

China Rejects Currency Manipulation Charge

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Topic Forums » Economy Donate to DU
Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 01:03 PM
Original message
China Rejects Currency Manipulation Charge
BEIJING The central bank of China on Saturday rejected an accusation by President Obamas nominee for Treasury secretary that China was manipulating its currency to give it an unfair advantage in exporting goods to the United States and other markets.

The assertion was made by the nominee, Timothy F. Geithner, in written remarks to the Senate Finance Committee as part of his confirmation hearing. The remarks were in documents made public on Thursday.

President Obama backed by the conclusions of a broad range of economists believes that China is manipulating its currency, Mr. Geithner said.

Xinhua, the state news agency, reported Saturday that Su Ning, the deputy governor of the Peoples Bank of China, the countrys central bank, said that Mr. Geithners accusation would sidetrack efforts to determine the real cause of the global financial crisis.

Also, we should avoid any excuse that might lead to the revitalization of trade protectionism, because it will do no good in the fight against the crisis, nor will it help the healthy and stable development of the global economy, Mr. Su said, according to Xinhua
Printer Friendly | Permalink |  | Top
MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 01:16 PM
Response to Original message
1. ......the real cause of the global financial crisis
That "real cause" is probably hiding out with that "real killer" of Nicole Brown who can never seem to be found.

It's easy to manipulate "value" of an item when you don't have to factor in LABOR COSTS. Prisoners over there don't get paid.
Printer Friendly | Permalink |  | Top
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Fri Mar 24th 2017, 11:51 AM
Response to Original message
Advertisements [?]

Home » Discuss » Topic Forums » Economy Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC