China’s Currency: U.S. Options

Description:

In recent years, the United States and China have disagreed whether China’s national currency, the yuan or renminbi, is properly valued compared to the U.S. dollar and whether China is manipulating its currency.1 The United States has pushed China to raise the value of its currency. Chinese officials say they want to make their exchange rate system more flexible, but China also needs long-term stability in its currency value in order to avoid dislocations. Chinese officials also say they will not bow to foreign pressure. China announced a new exchange rate procedure on July 21, 2005. This report summarizes this controversy, it describes actions and positions taken by the United States, China and other countries, and it discusses various approaches the United States might use to address this concern.

Creator(s):
Location(s): China
Creation Date: July 29, 2005
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Place of Publication: Washington D.C., USA
Date(s):
  • Creation: July 29, 2005
Coverage:
Place
China
Description:

In recent years, the United States and China have disagreed whether China’s national currency, the yuan or renminbi, is properly valued compared to the U.S. dollar and whether China is manipulating its currency.1 The United States has pushed China to raise the value of its currency. Chinese officials say they want to make their exchange rate system more flexible, but China also needs long-term stability in its currency value in order to avoid dislocations. Chinese officials also say they will not bow to foreign pressure. China announced a new exchange rate procedure on July 21, 2005. This report summarizes this controversy, it describes actions and positions taken by the United States, China and other countries, and it discusses various approaches the United States might use to address this concern.

Physical Description:

22 pages.

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Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text