To trade or not to trade, that is the question
By Dan Steinbock | China Daily | Updated: 2009-02-17 07:52
Debate on the Chinese currency reflects the rising ambivalence about free trade and the new pressures of financial protectionism.
"President Obama - backed by the conclusions of a broad range of economists - believes that China is manipulating its currency," noted new US Secretary of Treasury, Timothy F. Geithner in late January, hinting at a harder line on US-China relations.
Only a week later, however, Vice President Joe Biden said that there had been no judgment in the administration over currency manipulation.
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