14 Oct '11, 3pm

US must stand up to China on currency: Clinton

NEW YORK (AFP) - The United States (US) must stand up to China to prevent Beijing from taking unfair advantage in trade through its currency policy, US Secretary of State Hillary Clinton said on Friday. 'They continue to try to game the system to their advantage and our disadvantage,' Ms Clinton said after a speech to The Economic Club of New York. 'I think it's appropriate and fitting and timely for us to be standing up and saying, 'This is not acceptable.'' The top US diplomat said other countries suffering from China's yuan policies could join forces. 'It is not only distorting the market, it's not only making our exports more expensive, it is now beginning to impact on other countries as well. It's not the United States alone saying 'China needs to rebalance this artificial policy of depreciation,' Clinton said. Please enable JavaScript to view the comments powered by ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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