02 Oct '11, 5am

US Senate to take up China currency bill

WASHINGTON: The US Senate this week takes up a bill to punish China for its alleged currency manipulation, a measure that has divided the Republican presidential field and put the White House in a bind. The legislation -- backed by Democrats and Republicans in the polarized Congress, but opposed by Beijing and potent US business groups -- faces a key procedural vote set for 5:30 pm (2130 GMT) Monday. Democratic Senator Chuck Schumer, a key author of the measure, predicted the bill would clear that hurdle easily on the road to an "overwhelming vote" to approve it and send it to the House of Representatives. "The time for asking China nicely is over," he said Friday. But the bill faces an uphill fight in the House, where Republican leaders have no plans to bring it up for a vote unless the issue flares up as a core dispute in the November 2012 presidential races, several aid...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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