China’s Currency: U.S. Options

Sanford, Jonathan E.

Library of Congress. Congressional Research Service.

关键词: International finance;    Foreign economic relations - China - U.S.;    Foreign economic relations - U.S. - China;    Foreign exchange rates;    Trade;   

RP-ID  :  RL33018
RP-ID  :  RL33018 2005-07-29

美国|英语

来源: UNT Digital Library

【 摘 要 】

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.