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China pressed on currency

Old 03-21-06, 09:45 AM
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China pressed on currency

BEIJING - Two U.S. senators who are proposing possible trade sanctions on Beijing said Tuesday they hope for progress toward easing China's controversial exchange-rate controls in talks this week with Chinese officials.

A delegation including Sens. Lindsey Graham of South Carolina and Charles Schumer of New York was in Beijing to discuss currency, intellectual property protection and other trade issues.

The visit comes ahead of a March 31 deadline for a Senate vote on a bill proposed by Schumer and Graham to impose punitive tariffs of 27.5 percent on Chinese goods to counter what they say is manipulation of the value of China's currency, the yuan.

Who thinks the Senate has guts to impose the sanctions? I'm guessing they'll delay the vote.
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Old 03-21-06, 10:05 AM
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Nothing will come of this. China will threaten to dump all the dollars it is holding now and kill us with the deficit spending we're doing (which they are funding). We'll fold up like a cheap suit.
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Old 03-21-06, 10:06 AM
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they can't dump the dollars since it's going to kill the value of their currency as well
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