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kach22i kach22i is offline
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Join Date: Mar 2004
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Quote:
Originally Posted by cashflyer View Post
demanding that we revalue our currency
Are the words "demand" or "demanding" being used by the USA?

Found this doing a search for such evidence:
http://news.tradingcharts.com/futures/7/8/96054387.html
Quote:
DUBAI, United Arab Emirates, Jul 24, 2007, 2007 (IPS/GIN via COMTEX) -- Central banks in the Middle East are facing increasing pressure to revalue their currencies as the dollar continues its decline in relation to the sterling, the euro and a host of Asian currencies.
EDIT:

White House Opposes Pressuring China On Currency
By Martin Crutsinger, AP Economics Writer
Manufacturing.Net - August 01, 2007

http://www.manufacturing.net/article.aspx?id=145618
Quote:
WASHINGTON (AP) - The Bush administration said Tuesday it opposes two bills aimed at pressuring China to overhaul its currency system, saying the legislation could spark protectionist retaliation around the world.

Treasury Secretary Henry Paulson, Commerce Secretary Carlos Gutierrez and U.S. Trade Representative Susan Schwab argued in a letter to congressional leaders that two Senate bills could undermine the administration's efforts to get China to address issues that have contributed to a soaring trade deficit.

The United States could also be exposed to a ''global cycle of protectionist legislation,'' the Bush officials said.

One senator said it was incorrect to raise the threat of retaliation by China as a reason to oppose the legislation.

''If we manipulated our currency, then China should go after us. But we don't,'' said Democratic Sen. Charles Schumer.

Democratic Sen. Max Baucus disputed the administration's contention that the current system for policing misaligned currencies was working. He said his proposal would provide the administration with ''a new approach, new tools and new incentives'' to crack down on nations that were undervaluing their currencies.
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Last edited by kach22i; 08-08-2007 at 08:20 AM..
Old 08-08-2007, 08:15 AM
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