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US Treasury: Chinese Currency Still 'Significantly Undervalued'

The Obama administration has again criticized China for significantly undervaluing its currency, but stopped short of labeling Beijing a currency manipulator. In its twice-yearly report to Congress on Wednesday, the United States Treasury acknowledged the value of China's currency, the renminbi, is rising, "but not as fast or by as much as is needed." Washington has long accused Beijing of keeping the value of its currency artificially low, giving Chinese companies an unfair ...

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