The U.S. Puts Off Currency Report
The U.S. Puts Off Currency Report
  • Jung-In Bae
  • 승인 2010.05.18 12:17
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The Ministry of Finance in the US postponed announcement of its currency report, in order to ease friction between the U.S. and China. The US seemed to have found some common ground when they attended the Nuclear Security Summit on April 12th and 13th. The US has been applying pressure to China regarding the valuation of their currency. The U.S. had planned to name China as a manipulator of its currency in the Currency report, but President Barack Obama had to deal with a backlash from the U.S. Congress. The Congress was afraid of jeopardizing recently established diplomatic relations with China that could also jeopardize jobs and exports. President Obama seems to have been successful in inducing China to revaluate their currency on their own, but he still has to address internal divisions.

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