America postpone the issuance of a report on whether China's influence in the currency

15-10-2011 | (Voice of Iraq) - (Reuters)

She said the U.S. Treasury Department said on Friday it will postpone until later this year, a ruling on whether China affect the value of its currency at the time tried to Democratic lawmakers to overcome the objection to the Republicans on a bill that would impose sanctions on Beijing because of its policies with respect to the currency.
The decision to postpone the sixth semi-annual report to the U.S. Congress during the government of President Barack Obama just days after the approval of the U.S. Senate a bill designed to put pressure on Beijing to allow its currency, the yuan to appreciate faster.

The Treasury Department said in a statement that the delay "will give us an opportunity to assess progress made ​​in the wake of several international meetings."

It is scheduled to meet with leaders and ministers from the Group of Twenty of the world's major economies and Economic Cooperation Forum for Asia and the Pacific in October and November.

The President expressed the Barack Obama and key figures in the administration sympathized with the author's argument that China is deliberately House devalue the yuan to give companies an advantage in price on world markets, although they have stopped short of accepting a bill of currency.

Said U.S. Secretary of State Hillary Clinton in a speech in New York on Friday that "China is manipulating the system and reduce the value of commercial operation to give the companies an advantage. Its currency value rises, but not enough."

Clinton also raised the concern that some items could constitute a violation of WTO rules. And repeated Clinton's remarks about the currency in Obama's remarks last week.

Beijing says it is committed to the gradual reform of the currency and urged the White House a bill to stop the currency, which it says protectionist and inconsistent with WTO rules.

And approved by the U.S. Senate, controlled by Democrats on Tuesday, a majority of 63 votes to 35 votes on a vacation that will allow the bill to the United States to impose duties on goods from countries with currency appreciation is less than its value.

But the move blocked in the House of Representatives controlled by Republicans as opposed to John Penner, President of the Council and described the move as "dangerous."
And vowed Democrats in the House of Representatives on Friday to continue to press for a vote on the bill, saying the currency of this law, which hampered by Republican leaders is important for the ability of U.S. trade competitiveness.

Steny Hoyer said the second man in the leadership of the Democrats in the House of Representatives, "estimates suggest that currency manipulation cost the economy more than a million jobs.

"I urge the Republican leadership to put the currency bill to a vote."