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US Treasury: China 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 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." Responding to the report, Chinese foreign ministry spokeswoman Hua Chunying on Thursday said Beijing had made progress on currency ...

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