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Washington takes aim at China's currency policy

Overview

The US-China Strategic Economic Dialogue in Beijing last week failed to find a mutual understanding on how the global imbalances that plague the two countries will be addressed. The United States upped the pressure on Beijing to let the yuan appreciate, as Federal Reserve Chairman Ben Bernanke accused Chinese authorities of providing implicit subsidies to exports. By providing a spur to a resurgent crowd of China bashers in the new Congress, Bernanke's remarks will boost the risks...

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