Communist Tax Lawyer

A news, research and discussion platform for monitoring the evolution of Communist and ex-Communist countries to market economies

 

China fires back over renminbi comments made by U.S.

The US and China have embarked on a public row over foreign exchange policy only three days after Barack Obama’s inauguration, with China denying on Friday night it was “manipulating” its currency and saying the allegation would only fan protectionist sentiment in the US, reports Financial Times.The Chinese government responded to comments made by President Obama’s Treasury secretary,  Tim Geithner, who told a Senate nomination hearing on Thursday that China was “manipulating”  its currency.

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