Asia Bizz: The United State of America has said, China is not at all a currency manipulator, as it was thought the country did so to gain a strong unfair advantage at the International Trade Fair 2010. The statement regarding China and its currency manipulation issues was reported by the US Treasury Department.
After keeping an account of the flexible rates between the two countries since the month of June last year, and keeping in mind the appreciation done in China’s currency, the country does not fall in the category of a manipulator. A semi-annual report in context to China was presented by the US at the International Economic and Exchange Rate Policies.
Ten major economies were accounted and investigated in the report and none of them have fallen in the category of a manipulator. As per China, since the month of June and keeping the flexible exchange rates into consideration, the country’s currency has been appreciated by only 3.7% since last year against the dollar.