Nice 1st step but time for more, US plans to tell China on yuan

Sep 30, 2005 | 09:20 AM | Philip Burgert

Treasury Secretary John Snow will be pressing Chinese officials to take additional steps toward more flexible currency valuation when he meets with them this month, a State Department official told copper industry executives.

"We've explained to China that they could pay a big price if they don't get some momentum going," William H. Crane, deputy director of economics at the State Department's China and Mongolia desk, said in response to questions about China's yuan policies during a Global Market Trends Conference organized by the Copper Development Association, New York, and co-sponsored by AMM and others.....

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