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The United States was expected to decide whether to formally label China a “currency manipulator,” in its congressionally mandated,hermes birkins, twice-a-year report on global currencies that was scheduled for release Friday.
Chinese Commerce Ministry spokesman Yao Jian said Friday it is unfair for the U.S. to criticize the yuan’s exchange rate by simply pointing at the Chinese trade surplus.
On Wednesday,prince 03, U.S. Senator Max Baucus said there is a “very real possibility” the U.S. Senate will pass a bill that would penalize China because of the value of its currency.
China posted a $16.9 billion trade surplus in September. That was less than the $20 billion surplus in August but enough to prompt new demands for the world’s second-largest economy to let the yuan trade more freely on financial markets.
Baucus is chairman of the Senate Finance Committee, which may soon consider legislation that would let U.S. companies ask for duties on Chinese products to compensate for the effects of an artificially weak yuan.
In the Thai capital,hollister clothing store, Bangkok, a senior U.N. official spoke out Friday against pressuring China to revalue its currency. Supachai Panitchpakdii, who heads the United Nations trade and development agency, UNCTAD, said forcing a rapid appreciation of the yuan could cause turmoil in markets,nike dunk basketball shoes, and stall China’s economic growth and the global recovery.
U.S. lawmakers and businesses accuse China of keeping its currency, the yuan, artificially low,bose headphone discount, giving Chinese-made goods a price advantage on world markets.
The G20 finance ministers and central bank chiefs meet in Seoul beginning October 22. The fifth G20 summit takes place on November 11 and 12.
A U.S. statement Friday said the report will not be issued until heads of state, finance ministers and central bank governors of the G20 and Asia-Pacific region meet in the next few weeks.
Some information in this story was provided by Bloomberg and Reuters.
US to Delay Release of Currency Report
The U.S. Treasury Department says it is delaying the release of a report on the currency practices of China and other trading partners.

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Today I am leaving for a two week vacation to Europe. My long lost college roommate and I are going to be hitting up Spain and Italy and in Italy Vlad will be meeting up with us for a Gondola ride or two! I am super excited for this vacation and this time will actually be vacationing. We are lucky enough to have someone who will write posts for me while I am gone, Nerdphanie! You all remember her as a guest blogger! Now she is signed on as a two week blogger to fill my spot. She will bring you lots of new bags and goodies to look at. I will be posting sporadically, but not my usual four or five posts a day