The Political Election Selects Rmb

in Congress
Like every year the U.S. Congress asked the Department of Defense Analysis Report on Chinese military power, as the RMB exchange rate against the congressional hearings, and almost every year. But the result is often the thunder, rain, hearing the debate in full swing, in fact, did not submit any proposal to be passed by Congress. However, the situation seems a bit different this year. Some analysts have pointed out that the RMB exchange rate coincided with the U.S. mid-term election hearing the peak of combat readiness, not before the U.S. economic downturn, high unemployment situation, the transfer of domestic conflicts and voter attention, the two parties is likely to exchange rate of RMB under the ruthless hand. Therefore, compared with previous years, the RMB exchange rate-related proposal passed by Congress this year, more likely. The RMB exchange rate issue, Obama has so far been cautious wait and see attitude, and Congress ready to make a stark contrast. White House chief of staff, Emanuel (Rahm Emanuel) had earlier met with Schumer personally urged the Congress not to vote on proposals to deliver. However, with midterm elections approaching, Democrats Barack Obama to retain the majority party in Congress for his seat and the presidential election two years later, paving the way Congress is likely to need to adjust the yuan may take action. The speculation that Barack Obama has sent the National Economic Council President Lawrence Summers (Larry Summers) visit one of the missions is to let high-level understanding of the Chinese government on the currency issue Obama faces congressional pressure, can only hope that the appropriate to adjust the RMB exchange rate of RMB to help Obama and the common escape this "catastrophe." Bill can not stand pressure on RMB Yuli For the U.S., the sanctions of course, the RMB is the most thorough way to the Congress passed the proposal to levy additional taxes to improve the way the price of Chinese products into the United States the threshold, and thus reduce the trade deficit between China and the U.S.. In addition to the lead in the Senate, Schumer's "exchange rate surveillance reform bill", the Congressman Ryan (Rep. Timothy Ryan, D-OH17) coordination number of House of Representatives also recently proposed a "fair trade, monetary reform bill." Both proposals are required to allow U.S. companies import goods from China to impose anti-dumping and countervailing duties, in order to offset the yuan "undervalued" by the impact. But in fact, to promote the legislation to sanction the RMB risky. Obama has the government and commercial interests in China, U.S. companies are aware, the relevant proposal, if passed will quickly lead to China trade retaliation, a serious impact on U.S. exports, so that the two countries into a trade war and the diplomatic impasse. So far, Congress has not the proposal will be sent to any voting phase of the RMB, the White House has always uphold that type of negative attitude towards the bill. However, even if this proposal did not pass, Congress and the U.S. government has to be surging through the proposal to pressure the Chinese government. In recent days, the currency against the dollar on the market a modest decline. RMB chaired the House Ways and Means Committee hearing on Congressman Levin (Rep. Sander Levin, D-MI12), said it is because the Chinese know that the U.S. side to hold hearings. Summers, may now be privately pleased his visit to China is still worked (China manufacturers). From: wholesale electronics
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The Political Election Selects Rmb

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This article was published on 2010/10/05