Thursday, Jun 14, 2007
They got it every which way, exporting themselves to wealth at the expense fo the rest of us
guardian: US Treasury report lambasts China
Strongly backed by the US manufacturing sector, the hawks on Capitol Hill say that the Chinese currency is undervalued by 40%, leading to a surge of cheap imports that cost US jobs.
Rob Carnell, economist at ING bank in London the data continued to "put upward pressure on already elevated bond yields, and it further raises expectations of Fed rate hikes later this year or early next".
Posted by chris @ 03:48 AM (126 views) Add Comment
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