China Already Hitting Back Against Coming Onslaught Of Yuan Manipulation Criticism

china yuan

You know that an onslaught of criticism is coming regarding the yuan from US politicians.

Tim Geithner is talking to Congress today about the issue.

Here’s how China is responding, via Caijing.

“It is groundless for the U.S. to criticise China’s exchange rate policy simply according to the trade surplus alone,” Yao Jian, spokesman with the Ministry of Commerce, said Wednesday at a news conference.

“China’s trade surplus against the United States only reflects part of the two parties’ economic relationship,” Yao said, “The United States has massive investment in the Chinese market, with $220 billion worth of sales volume annually. Taken together, China and the United State’s economic benefits are complementary.”

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