Currency issues heating up

SO, the United States has once again intensified its political pressure on China to hasten the appreciation of the latter’s currency, the yuan, as a new legislation to allow tariffs to be imposed on imported goods from “countries with undervalued currencies” was passed by the US House of Representatives over the week.

It is obvious that the bill was mainly targetted at imported goods from China, whom the United States have long accused of currency manipulation to gain an unfair trade advantage and contribute to global imbalances.