Search

This article reports that the organization, China Currency Coalition, is planning to declare that China's currency remains undervalued by 40 percent or more against the dollar and is calling on U.S. President George W. Bush's administration and the U.S. Congress to take a more aggressive stance against China's currency policy. Skip Hartquist, who is counsel to the labor, agricultural and manufacturing coalition, said that China's revaluation of the yuan by 2 percent in July 2005 was insignificant and its policy continues to result in cheaper Chinese exports. Hartquist said that his group is urging the Bush administration to reconsider its decision not to take the issue to the World Trade Organization.