Title: China Currency Reserves Top Japan's, China Business News Says

Essay Details

Subject: Biographies
Author: Randell M
Date: May 23, 2016
Level: University
Grade: B
Length: 2 / 414
No of views: 0
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to relax controls on the yuan, which was revalued by 2.1 percent in July and is managed against a basket of currencies. U.S. senators Charles Schumer and Lindsey Graham, who visited China last week, are considering pushing legislation that would put punitive tariffs on Chinese imports. ``The pressure is decidedly building,'' said Brad Setser, a former Treasury official and now an economist at Roubini Global Economics in New York, said in a Feb...

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22 interview. ``China's rapid accumulation of reserves and the fact that it has to intervene so greatly to maintain the current value of the renminbi is significant.'' The yuan is a denomination of China's currency, the renminbi. It has climbed 1.1 percent against the dollar since the July 21 revaluation, a gain that has failed to satisfy the U...

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