28/05/2012
The U.S. government said on Friday that China's efforts to raise the value of its currency against the dollar is not sufficient. U.S. Treasury Department in its semi-annual report on exchange rate policy with major trading partners of the United States noted that despite the efforts made by Beijing to revalue the yuan, it remains "without actual value to a large extent."
The US Treasury Department said it will continue to monitor the pace of appreciation of the yuan closely. And the value of the yuan, for which the Washington calls to raise the value more, is the subject of controversy between the two countries, as the United States complained that the price of yuan is less than its actual value which resulted in huge U.S. trade deficit with China in 2011 that reached a record $ 295.5 billion.
